The churn in the retail sector over the past years has separated the men from the boys. On one end are players such as Avenue Supermarts (D-Mart) and V-Mart, which have delivered over the past five years. And on the other, is Shoppers Stop, which has struggled to hold its ground. Somewhere in the middle are Future Retail, Trent and Aditya Birla Fashion and Retail, who have managed a turnaround but have yet to prove that they have permanently migrated to a stable and sustainable growth trajectory.