Wal-Mart Is New Lead Sponsor of New York Veterans Day Parade

The world's largest retailer, Walmart, is the lead sponsor of the New York City Veterans Day Parade for the first time in the parade's history.

Wal-Mart is considering opening its first store in New York City, and has reportedly been checking out properties in Brooklyn.

But Wal-Mart says that's not reason Walmart became a sponsor of the parade. This year, the company and its foundation made a $10 million commitment to support veterans on a variety of issues, including unemployment, mental health and education.

Spokesman Steven Restivo noted that Wal-Mart is one of the largest employers of veterans and is sponsoring parades in other cities as well.  

Walmart paid $100,000 to become the parade's lead sponsor and company executives will join the procession. Other sponsors include U-Haul, HBO, NBC and the History Channel.