He is opening exactly 5 stores across the entire city, in areas where private stores have pulled out due to lack of profits. This will have minimal impact on local businesses. No more than if new privately owned stores opened up, which happens all the time in a city like NY. No one, except those that are struggling financially are going to out of their way to the one store in Manhattan that has 30% lower prices.

You clearly have not spent much time in NYC.