GO
Loading...

Enter multiple symbols separated by commas

Wal-Mart to pull out of D.C. after minimum-wage vote

143391048DA010_
Getty Images

Wal-Mart is not happy with recently passed legislation to raise the minimum wage in Washington, D.C. So much so that the retail giant has said it will scrap three planned stores in the area.

Following the vote, Wal-Mart spokesman Steven Restivo issued a statement regarding the future of D.C. Wal-Mart stores.

"‪Nothing has changed from our perspective: we will not pursue Skyland, Capitol Gateway, and New York Avenue and will start to review the financial and legal implications on the three stores already under construction. This was a difficult decision for us—and unfortunate news for most D.C. residents—but the Council has forced our hand," he said.

The decision to pass the bill came after a team of Wal-Mart executives and lobbyists delivered their ultimatum personally to D.C. Council members less than 24 hours before the vote.

By CNBC's Jeff Kagan.

  • Christina Cheddar Berk is editor of CNBC.com's Consumer Nation and chief trend spotter.

  • Courtney-Reagan-140.jpg

    Courtney Reagan is CNBC's Retail Reporter.

  • Tom Rotunno

    Tom is a Senior Editor and Assignment Desk Manager for CNBC TV. He also writes about the business of beer for CNBC.com.

  • Staff Writer

  • Stephanie Landsman is one of the producers of "Fast Money."

Retail