McKenzie blog

Wal-Mart plans first stores in Washington, D.C

NEW YORK (Reuters) – Discount retailer Wal-Mart Stores Inc (WMT.N) said it plans to open its first four stores in Washington, D.C., its latest effort to boost its presence in major U.S. cities.

Wal-Mart said it plans to open the smaller format stores in the District of Columbia in late 2012 and said its plans have popular backing. It also said it would create 1,200 jobs in the city.

The retailer said a poll of 800 locals it commissioned found nearly three-quarters of Washingtonians favored Wal-Mart coming to the city.

Wal-Mart has sought to convince city governments to allow it to open stores. Earlier this year, it won approval from the Chicago City Council to open two additional stores there, although it still has no stores in New York City.

A Wal-Mart spokesman told Reuters the retailer would need city permission to open one of the stores, but was free to open the other three.

Wal-Mart shares were up 60 cents, or 1.1 percent at $54.37 in midday trading.

(Reporting by Phil Wahba; editing by Andre Grenon)