Obama shops at Gap

|By:, SA News Editor

President Obama paid a surprise visit to a Gap (GPS -1.8%) store in New York City yesterday and spent a reported $150 on his wife and kids.

The retailer was rewarded after striking out on its own to raise the minimum wage for 65K of its employees to $10.10 per hour.

Most retailers are fighting for a more modest minimum wage hike from the current $7.25/hour level than what Gap instituted.