Retail marketing chain of discount stores.
Max Stock exited 2025 having proved that direct sourcing, stronger merchandising, and tighter working-capital control can create a real step-up in margin and cash flow. The next test is harder: preserving that efficiency while the chain opens faster, logistics stay expensive, an…
The next Max Stock debate is no longer proof of concept. It is rollout math. A roughly 110 thousand net square meter footprint by 2030 looks reachable only if the company operates close to the upper end of 3 to 5 gross openings a year, avoids leakage between gross and net additi…
Max Stock's 2025 cash-flow jump was real, but not all of it reflects a new steady-state base. Margin improvement helped, yet more than 80% of the increase in the operating cash-conversion measure came from inventory normalization after the unusually heavy 2024 build and from low…
