Walmart really wants to break into New York City, but its latest attempt has fallen apart.
The world's largest retailer says that it failed to agree on economic terms for opening its first store in the city, which was supposed to be at a development in Brooklyn's East New York neighborhood, reports Matt Townsend at Bloomberg.
Walmart has some serious opposition in NYC, mostly from unions and politicians. They say Walmart will devastate local businesses.
Competitors Target and Costco already have a few locations around the city.
Here's the full statement from Steven Restivo, Walmart Senior Director of Community Affairs:
"Walmart today announced that we were unable to agree upon economic terms for a project in East New York. We remain committed to bringing new economic development and shopping options to New York City, especially in the neighborhoods that need them most. Two things remain constant: most New Yorkers want us here and we remain interested in providing more convenient access to Walmart for local residents.
We appreciate all our supporters – the Mayor's office, Borough President Markowitz, Reverend Youngblood and countless others in and outside East New York – who helped us strengthen local relationships and build bridges with the community. In addition to providing good jobs and affordable groceries, residents want a retailer in Brooklyn that would hire and buy local, and look to make a positive economic impact by hosting job fairs, workforce development initiatives and supplier summits. Walmart will continue to evaluate local opportunities across all five boroughs."
“It’s a win all around, but it’s more about the win for the community, then a loss for Walmart,” said Patrick Purcell, a spokesman for the United Food and Commercial Workers Union Local 1500 tells Bloomberg.
