“The hits merchants are taking from the Covid-19 pandemic were apparent in the second-quarter financial results the big retail and cobranded card issuer Synchrony Financial reported Tuesday, results which include a 19% year-over-year drop in purchase volume. Stamford, Conn.-based Synchrony posted purchase volume of $31.2 billion versus $38.3 billion in 2019’s second quarter. Excluding the sales of its Walmart and Yamaha consumer card portfolios last October and this January, respectively, volume on a so-called core basis declined 13% year-over-year.”