Wal-Mart Scouts Out New York, Plans New China Store
Bentonville, Ark.-based retailer Wal-Mart Stores, Inc. is surveying potential store locations in New York, according to Crainsnewyork.com. After renouncing the initiative several years ago, due to opposition from labor unions and surrounding communities, the company now feels that the current economic recession has provided a unique opportunity to expand into the city.
“Now, more than any other time in recent memory, New York City residents want and need better access to our stores so they are not forced to travel to New Jersey or Long Island to benefit from the savings Wal-Mart provides for working families,” said Philip Serghini, a Wal-Mart spokesman. “Hopefully we will be able to bring a store to New York in the near future.”
In other news of the world’s largest retailer, the Bentonville, Ark.-based company plans to open its first store, a Sam’s Club, in Guangzhou, the capital city of southeast China’s Guangdong Province, at the end of November 2009, according to SinoCast Daily Business Beat via COMTEX. The $30 million project -- reportedly Wal-Mart’s highest investment in a store in China -- will measure 24,000 square meters (260,000 square feet) and offer nearly 1,000 parking spaces. The Guangzhou store is a joint venture between the retail giant and a local company. Wal-Mart, which is said to be planning further stores in Guangzhou, has had a presence in China for the past 13 years.
“Now, more than any other time in recent memory, New York City residents want and need better access to our stores so they are not forced to travel to New Jersey or Long Island to benefit from the savings Wal-Mart provides for working families,” said Philip Serghini, a Wal-Mart spokesman. “Hopefully we will be able to bring a store to New York in the near future.”
In other news of the world’s largest retailer, the Bentonville, Ark.-based company plans to open its first store, a Sam’s Club, in Guangzhou, the capital city of southeast China’s Guangdong Province, at the end of November 2009, according to SinoCast Daily Business Beat via COMTEX. The $30 million project -- reportedly Wal-Mart’s highest investment in a store in China -- will measure 24,000 square meters (260,000 square feet) and offer nearly 1,000 parking spaces. The Guangzhou store is a joint venture between the retail giant and a local company. Wal-Mart, which is said to be planning further stores in Guangzhou, has had a presence in China for the past 13 years.