Wal-Mart to Close New York Apparel Office in Focus on Basics
This article is for subscribers only.
Wal-Mart Stores Inc., the world’s largest retailer, is closing its New York apparel office as it works to reduce costs and focus on more basic clothing.
The office on Broadway between 37th and 38th Streets opened in 2009 and has about 275 employees handling functions including product development and buying for Bentonville, Arkansas-based Wal-Mart. Those functions will be transferred to offices in the company’s hometown by Feb. 1, Wal-Mart said in a memo obtained by Bloomberg News.