TTB Wealth Expects Retail SSSG to Recover to +0.3% in Q3 2026, Recommends Buying CRC, CPN, GLOBAL

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Summary · why it matters

TTB Wealth stated that same-store sales growth, or SSSG, for the retail sector in the third quarter of 2026 is expected to continue recovering to +0.3% after five consecutive quarters of contraction, supported by each company's strategy adjustments and a resilient economy aided by stimulus measures. The consumer staples group remains strong, with BJC (Big C) standing out most, returning to +0.3% after adjusting its product strategy to better align with customer demand, while CPALL also continues to perform well. CPAXT, however, remains weak in both retail and wholesale businesses. In the home improvement retail group, SSSG is expected to be pressured by higher energy prices, causing consumers to delay spending on construction and home decoration, but a greater focus on selling higher-margin house brand products is expected to partially offset weak sales, with GLOBAL being the most resilient. In the luxury goods group, CRC stands out most thanks to business restructuring and strategies that have driven a strong sales recovery, while MOSHI and CPN continue to perform well. TTB Wealth recommends buying CRC, CPN, and GLOBAL, which have their own specific drivers and resilience to weak economic conditions, while recommending a trade for BJC after initial signs of improvement.

Impact on assets 7

Consumer Discretionary▲
Siam Global House Public Company Limited
GLOBAL
▲ PositiveDemandrelevance

TTB Wealth expects GLOBAL to be the most resilient in home improvement retail and recommends buying it, citing its own specific drivers and resilience to weak economic conditions.

Moshi Moshi Retail Corp. PCL
MOSHI
± MixedDemandrelevance

Moshi Moshi is only mentioned as continuing to perform well in the luxury goods group, with no company-specific development or recommendation.

Consumer Staples± Mixed
Berli Jucker PCL
BJC
▲ PositiveDemandrelevance

BJC (Big C) stands out most, returning to +0.3% SSSG after adjusting its product strategy to better align with customer demand.

Real Estate▲
Digital Finance & Tokenization▲