Sell a lot at a narrow profit margin, and you have a business model so well known it’s become part of the language: pile ’em high and sell ’em cheap. Sell a little at a high margin, and you can happily survive, perhaps in luxury fashion or advanced manufacturing. But sell a lot at a high margin, and you’re either a nasty monopoly or a disruptive technology company, or both. These days, the biggest companies have high profit margins. There’s a vital question for investors: Will those margins fall now that wage pressures are...

Source: Wall Street Journal April 23, 2018 16:56 UTC