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Retail Bankruptcies On Track This Year To Hit 2010 Levels

PYMNTS

Brick-and-mortar retailers felt the pain at exaggerated levels due to the pandemic, according to the bi-annual BDO Bankruptcy Update. That means the year is on pace to rival the 2010 numbers during the Great Recession. That will have the effect of speeding up bankruptcies going into the end of the year, the report stated.

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Turkeys Selling At Lowest Price Since 2010

PYMNTS

The cost of the traditional Thanksgiving centerpiece, the turkey, is at its lowest since 2010, as retailers try to push product for another holiday that’s falling victim to the coronavirus pandemic. The average cost of this year’s Thanksgiving dinner is the lowest since 2010,” said Newton in the release.

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Retail Heading For Its Biggest Year Of Layoffs Since 2010

PYMNTS

With the waves of announced layoffs coming from what seems like every corner of the retail ecosystem these days, the latest consensus out of analysts that 2016 will be the worst year for retail segment layoffs sine 2010 probably comes as a shock to just about no one.

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UK Avoids Recession Amid Worst Economic Slowdown Since 2010

PYMNTS

economy ducked a recession but the economy grew at its slowest annual rate since the third quarter in 2010, Reuters reported on Monday (Nov. A May survey of British retailers by the Confederation of British Industry (CBI) said retailers were witnessing the poorest sales performance this month in 10 years. Economic output grew 0.3

Survey 101
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Retailer Gap Partners With BNPL Platform Afterpay To Boost Holiday Shopping

PYMNTS

Buy now, pay later (BNPL) payments platform Afterpay is teaming up with retailer Gap to offer flexible spending options as the holiday shopping season gears up. The Australian startup founded in 2010 has added a number of new brands over the summer, including Charlotte Tilbury, Fenty Skin, Fila, Huda Beauty, Puma and Vineyard Vines.

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High Rent Costs Hurting Retailers

PYMNTS

Retailers are feeling the heat from high rent costs. According to a report in The Wall Street Journal , while commercial retail rents are down, rent costs still remain higher than prerecession levels in many prime shopping areas, including Manhattan, Los Angeles and Dallas. The retailer fought the rent increase but lost.

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Retailers Ready To Drop Credit Card Signatures

PYMNTS

With fraud on the rise, credit card networks have realized that customer signatures are simply not a reliable way to authenticate someone’s identity — and some of the country’s largest retailers agree. And Visa is making signatures optional in North America, but only for retailers with payment systems that read chip cards.

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