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NEW YORK - Wal-Mart is looking to open its first store in the five New York boroughs, Crain's New York Business reported on Sunday.
The world's largest retailer has looked at some of the city's biggest retail spaces -- including Manhattan's Pier 40, the redeveloped Farley Post Office at 34th Street and 8th Avenue, the former Washburn Wire Factory site in East Harlem, the Sunset Park area in Brooklyn, and the former Kmart on Bay Parkway in Brooklyn.
The $244.5 billion company recently opened a store in Los Angeles, leaving Detroit and New York as the only big cities without a Wal-Mart.
Wal-Mart could face some serious obstacles to opening in the city, including restrictive zoning in some neighborhoods, community opposition that has negatively impacted other big retailers such as Costco, higher rents, and distribution challenges.