Wal*Mart May Abandon New York Plans
America’s largest retailer -- and third-largest CE retailer -- may be backing off plans to expand into the nation’s largest market. The chief executive of Wal*Mart, Lee Scott, expressed doubt that the Arkansas-based retail giant would ever set up shop in the Big Apple.
“I don’t care if we are ever here,” Scott told a group of New York Times reporters and editors for a story published Wednesday. Later in the day, Wal*Mart posted a statement on its corporate Web site stating that Scott had merely been referring to the possibility of expanding into Manhattan, while retaining the hope that Wal*Mart could still build a location in one of the city’s four other boroughs.
Wal*Mart has been kicking the tires on the possibility of entering the New York market for several years, with the most likely landing spots expected to be either Queens or Staten Island (Manhattan, a densely populated area with few areas available for large development, has never really been a Wal*Mart candidate.)