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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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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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Best Buy To Shutter US Mobile Phone Stores

PYMNTS

Facing high operational costs and changes in the smartphone market, Best Buy plans to shutter its 250 mobile phone stores in the U.S. Fast forward to 2018 and the mobile-phone business has matured, margins have compressed and the cost of operations in our mobile stand-alone stores is higher than in our big box stores.”. by May 2018.

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India’s Struggling Yes Bank Sees Share Boost From $1.2B Offer

PYMNTS

Yes Bank is a private-sector bank that mainly operates as a corporate bank, but it also does asset management and retail banking. Yes Bank was founded in 2004; it grew rapidly, but was affected by more corporate defaults in the country. The deal is still awaiting approval by the bank’s shareholders and the board.