The middle market retail M&A environment is seeing more action, most of it involving big retail discounters such as Amazon.com Inc. and Best Buy Co. Inc. There are signs, however, that private equity buyers may get in the game as well. It may not happen soon, says Jennifer Herber, who covers the retail and apparel sectors for the investment bank Stephens Inc., but there has been some positive developments in the debt markets that could lure financial buyers back beginning in mid- to late 2010. - Suzanne Stevens