Apparel

A new deal could give Amazon a foothold in the Middle East.   Amazon has agreed in principle to buy Souq.com, a leader in the Middle East's online shopping market, according to a report in Reuters.   

The department store chain is putting a new spin on formalwear rentals.   Through its partnership with tuxedo rental startup The Black Tux, Nordstrom hopes to attract male millennials to its new formalwear showrooms in six stores, according to ReCode.  

Highly promotional activity and increased multichannel initiatives not only helped Shoe Carnival hit its expectations, but exceed $1 billion in net sales for the year.   For the quarter ended January 28, 2017, the retailer’s net sales were $234.2 million, a 0.2% increase, compared to net sales of $233.7 million for the fourth quarter of fiscal 2015. While it was in line with its goals, this was just shy of Wall Street’s prediction for sales of $235 million.  

Payless could be the newest retailer headed toward bankruptcy.   The struggling retailer could file for bankruptcy as soon as next week. In the meantime, Payless is already making plans to reorganize operations by shuttering stores, according to Bloomberg.   

Jo-Ann Fabric and Craft Stores is getting merchandise into its shoppers’ hands faster.   The arts and crafts retailer is launching buy online, pick-up in-store (BOPIS) — a free service that allows its digital shoppers to pick-up online orders at any of its 862 stores chainwide.  

A combination of sluggish mall traffic, a shaky sporting goods industry, and poorly performing merchandise took a toll on The Finish Line in the fourth quarter and fiscal 2016.  

Hy-Vee shoppers will soon be able to buy new clothes while they grocery shop.    Two Hy-Vee locations in Nebraska will soon feature F&F clothing boutiques through the Iowa-based retailer’s franchise agreement with the British clothing line owned by supermarket company Tesco, reported The Anchorage Press.  

Five Below Inc. reported its 11th consecutive quarter of positive same-store sales results amid bullish growth plans for the current year.   The value retailer, which targets tweens and teens with a wide array of goods all priced at $5 or below, said it will open 100 stores in 2017, including its first ever locations in the state of California. The chain opened 85 net new stores in 2016.