NEW YORK CITY-With Walmart continuing its slow, controversial march into New York City, questions linger about what size stores might be on the way. Additionally, opponents wonder if New York needs Walmart or if the retailer, which has been experiencing slipping sales, needs New York City.

The Related Cos. has been in talks with the retail giant to secure a location for its entry into the New York City market. The proposed site is Gateway Estates II, a parcel of land in the East New York section of Brooklyn.

Walmart reported a drop in same-store sales for the fourth quarter of 2011, noting in a release that they had declined 1.8% for the quarter. Overall, net sales for the year were buoyed by a 2.7% increase in Sam’s Club same store sales, and increased to $419 billion.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.