UPDATE 2-Wal-Mart Stores to hike pay for 1.2 mln workers in 2016

Jan 20 (Reuters) - Wal-Mart Stores Inc said Wednesday that more than 1.2 million employees would get a raise in 2016, and the retailer will allow paid days off to be carried over into the next year as it aims to retain workers amid a tight U.S. labor market.