Wal-Mart Fails in NYC Bid

Discount giant can’t reach “economic terms” for Brooklyn project.

The exterior of a Wal-Mart store in Mexico City, Mexico.

Wal-Mart Stores Inc. has yet to find a New York City home.

The retailer said Friday it was unable to agree to economic terms for store in the East New York neighborhood of Brooklyn.

“We remain committed to bringing new economic development and shopping options to New York City, especially in the neighborhoods that need them most,” said Steven Restivo, senior director of community affairs at Wal-Mart. “Two things remain constant: most New Yorkers want us here and we remain interested in providing more convenient access to Wal-Mart for local residents.”