Wal-Mart fails to land first NYC store; search continues

Fri Sep 14, 2012 5:39pm EDT

Anti-Walmart protesters gather on the steps of City Hall in New York, February 3, 2011. REUTERS/Brendan McDermid

Anti-Walmart protesters gather on the steps of City Hall in New York, February 3, 2011.

Credit: Reuters/Brendan McDermid

(Reuters) - Wal-Mart Stores Inc (WMT.N) said on Friday it had failed to reach a deal with a developer to have a store in Brooklyn's East New York neighborhood, dealing the company a setback in its attempt to open its first location in the largest U.S. city.

Wal-Mart, the world's largest retailer, had been in talks with Related Companies to open a store that would have anchored the Gateway Two Plaza development in Brooklyn. A Shop Rite supermarket will instead occupy that space.

In a statement, Wal-Mart said it would continue to look for a site, adding that most New Yorkers want the discount giant to open a store in their city.

"We remain committed to bringing new economic development and shopping options to New York City, especially in the neighborhoods that need them most," Steven Restivo, Wal-Mart's senior director of community affairs, said in the statement.

Wal-Mart has faced opposition from some groups in New York that say it does not pay its workers adequately and would drive out small local businesses.

(Reporting by Martinne Geller, Ilaina Jonas and Phil Wahba in New York; Editing by Dale Hudson)

(martinne.geller@thomsonreuters.com; 646 223-6023; Reuters Messaging: martinne.geller.reuters.com@reuters.net)

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Comments (1)
Geodude001 wrote:
I discovered when I lived in Manhattan that it’s a fabulous place to shop for furs, diamonds, first editions, and original art, and sucks if you want any ordinary goods beyond rat traps and thumb tacks. If you want anything beyond the utterly mundane, any suburban mall is more convenient than Manhattan. Well done, New York.

Sep 16, 2012 1:05pm EDT  --  Report as abuse
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