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Why Does The Path To Retail Innovation Go Through So Many Labs?

PYMNTS

It’s not enough to be a retailer these days, not if a merchant intends to survive in a world of commerce dominated by the likes of Amazon and other tech-focused competitors. Innovation is one of the keys to advancement — and that increasingly means opening tech hubs, incubators and other such operations. New Efforts.

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Apple Loses A Key Retail Innovator

PYMNTS

It often seems that technology makes retail innovation. Ive has earned a place in the history books, at least when it comes to the history of this particular era of retail. For example, Apple Park – this was a project that started in 2004 … a couple of weeks ago, we had our official opening of the Park.

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American Dream Megamall Announces First Shops To Open In Spring

PYMNTS

The American Dream megamall in New Jersey is preparing to open a round of retail stores after nearly two decades in waiting. Triple Five Group said there will be other retailers opening their doors at the megamall throughout 2020, with a luxury wing called The Collections set to open in September.

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PayPal Sells Consumer Loans to Long-Time Partner Synchrony Financial

Bank Innovation

Synchrony Bank has been PayPal’s banking partner since 2004. Yesterday, the San Jose, Calif-based PayPal said it agreed to sell $5.8 billion in consumer credit receivables to Stamford, Conn-based Synchrony Bank, a unit of Synchrony Financial. In addition to selling its credit […].

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Dialing Up Performance in Home Equity Lending

Gonzobanker

With the inefficient, circa-2004 borrowing processes resident in many banks’ loan departments today, too few lenders are equipped to deal with the rising tide of home equity volumes that will descend like a tsunami on their operations the moment Fed chairman Jerome (What-Are-We-Waiting-For) Powell announces a rate cut.

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Last Major US Video Rental Chain Is Closing All Brick-And-Mortar Stores

PYMNTS

on its brick-and-mortar operation. Family Video , which operates some 200 stores in 17 Midwest and Southern states, announced this week that it’s closing all physical locations after four decades in the business. Industry leader Blockbuster Video went from a peak of more than 9,000 stores in 2004 to filing for bankruptcy in 2010.

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Sears Files For Bankruptcy; To Close 142 Stores

PYMNTS

The bankruptcy filing is the culmination of years of effort on the part of Sears and chief executive officer Eddie Lampert to turn the company the billionaire acquired in 2004 around. Lampert had long vowed to bring Sears back to the days when it was a leading retailer, but his efforts failed to take off with consumers.

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