Retail Q3 Profits Still Growing; Favor MOSHI-CRC-MRDIYT

HoonVision··TH·Read original
2▲2 ▼0Impact / 5
Summary · why it matters

Krungsri Securities expects normal profits for the retail group (excluding IT products) in 3Q26F to still grow y-y, despite flat same-store sales (SSS), with the main support coming from expanding gross margins. Meanwhile, August SSS was flat y-y, slowing from +1% in July, due to frequent rain and weak purchasing power. However, Big C (a subsidiary of BJC) bucked the trend with 2% y-y growth, supported by product adjustments and orders from small retailers. The lifestyle and department store groups continued to perform well, with MOSHI and MRDIYT posting SSS growth of 4% and 1%, respectively, while CRC grew 1.5%. The home repair and decoration group contracted by an average of 1%, with GLOBAL weakest at -7% and HMPRO at -4%. September SSS recovery is expected to be limited due to the "Thai Helps Thai Plus" measures and high cost of living. The firm maintains a NEUTRAL stance on the retail group and selects MOSHI, CRC, and MRDIYT as top picks.

Impact on assets 6

Consumer Discretionary▲ · 5 stocks
Consumer Staples▲ · 1 stocks
© 2026 MarketIVNews