Wet Seal became the fourth US apparel retailer to file for bankruptcy in two months as the sector struggles with growing competition and lower spending by teen shoppers.
The company said its shift away from fast-fashion clothing,
Azadea Group, a retailer with franchise rights for brands such as Gap, Zara and Superdry across the Middle East, aims to raise up to $500 million with the sale of a minority stake in the business, sources aware of the matter told Reuters.
Dubai-based Souq.com, one of the Middle East's largest e-commerce businesses, aims for high double-digit revenue growth as it introduces Black Friday-type discount events to help lure shoppers from the city's retail malls.
Saudi Arabian retailer Jarir Marketing Co plans to invest SR1.1 billion ($293 million) over the next five years to roughly double the number of its stores in Saudi Arabia and the Gulf, its chairman said.
The kingdom's largest
Al Meera, a leading retail chain in Qatar, said work was on track for the opening of all the eight new malls in the country by the end of this year.
The company officials announced this at the launch of its new branch in Legtaifiy
Al Meera, a leading retail chain in Qatar, said its net profit for the first half grew by 95.8 per cent to QR112.8 million ($30.9 million) compared to QR57.6 million for the same period last year.
Dr Mohamed Nasser Al Qahtan
Saudi Arabian retailer Fawaz Abdulaziz Alhokair proposed doubling its capital through a one-for-one bonus issue, the firm said on Wednesday.
Alhokair, which franchises brands such as Zara and Marks and Spencer in the kingdom, said
Al Meera, a leading retail chain in Qatar, has announced plans to launch a wide array of amazing offers in all its branches across Qatar for Ramadan.
The offers will include sale of 1,000 consumer products at cost price, said the
India could allow global online retailers such as Amazon.com to sell their own products as early as next month, removing restrictions that could boost competition in one of the world's biggest, and most price-sensitive, retail markets.
Al Meera, a leading retail chain in Qatar, said it has achieved a 29.4 per cent growth in sales for 2013 which soared to QR1.94 billion ($532 million) from QR1.5 billion the previous year.
Announcing the results, Abdulla Bin