Executives said the pay increase would drive up prices for consumers.
So how much would a higher minimum wage cost shoppers at Walmart?
About 46 cents per trip, reports Caroline Fairchild at The Huffington Post.
That figure is based on a 2011 study by CUNY's Stephanie Luce and University of California Berkeley's Ken Jacobs and Dave Graham-Squire.
"Even if Walmart decided to pass 100 percent of the cost on to customers, store prices would still only increase by 1.1%," Fairchild writes.
Because the average customer spends $1,200 per year, that would amount to about $12 annually.
A Walmart spokesperson said that anyone who thought price increases would be small had "limited understanding of how a business operates."