The world's largest retailer was once again forced to beat a retreat in New York City, where it's been trying for years to open a store. Last year, it seemed possible the discount giant might finally enter the market by anchoring Related Companies' shopping center project in East New York, Brooklyn. But according to a report from Reuters, the retailer wasn't able to reach a deal on the site.
The space that Wal-Mart was eyeing will be taken by a ShopRite supermarket instead.
In a statement, Wal-Mart executives said they will continue to pursue a store in New York 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.