Import & marketing of footwear, soport & leisure clothing.
Retailors can still grow, but in 2025 that growth came mainly from store openings and European expansion while the mature store weakened and the group became more dependent on leases, inventory, and bank financing.
Europe is already reshaping Retailors, but as of year-end 2025 it still looks more like a revenue engine built through acquisitions, openings, and fixed-cost layering than a returns engine that has already been proven.
Retailors' main constraint is not accounting profitability but the gap between operating cash flow and the full cash burden of leases, network investment, dividends, and debt service. January 2026 refinancing improves timing, but not the model's underlying cash economics.
