Central Retail Corporation Public Company Limited (SET: CRC) delivered a robust performance in the third quarter of 2026, posting a 70% year-over-year surge in net profit from continuing operations to THB 2,181 million. Total revenue expanded 4.9% year-over-year to THB 61,185 million, up from THB 58,346 million in 3Q25. The strong quarterly results were underpinned by solid operational expansion in food retail, high-margin fashion momentum, and aggressive balance-sheet deleveraging.
Key Financial Highlights
- Net Profit: THB 2,181 million (+69.7% YoY)
- Total Revenue: THB 61,185 million (+4.9% YoY)
- Gross Profit Margin from Sales: 25.2% (+70 bps YoY)
- Basic Earnings Per Share (EPS): THB 0.35 (+61.2% YoY)
The Food segment served as CRC’s chief revenue driver, generating THB 24,882 million in sales—an 11.5% year-over-year increase—supported by network expansion under the TOPS DAILY banner and consumer stockpiling of essentials during late-quarter flooding in Thailand. Online food sales surged 52.5% YoY.
The Fashion segment expanded 8.6% YoY to THB 13,334 million, propelled by strong demand for premium brands and sports apparel, alongside a 35.8% jump in online fashion sales.
Conversely, Hardline sales fell 6.6% YoY to THB 16,192 million, reflecting the strategic divestment of the Nguyen Kim consumer electronics business in Vietnam; excluding the divested unit, Hardline revenue rose 0.4% YoY. Rental services revenue grew 4.4% YoY to THB 2,064 million due to enhanced space management.
Core operational execution drove earnings rather than single-event windfalls. Adjusted core profit jumped 66.4% YoY to THB 2,135 million. Gross margin on sales improved 70 basis points to 25.2%, boosted by favorable product-mix management and brand portfolio optimization. Finance costs dropped 24.6% YoY to THB 747 million following debt reduction. Meanwhile, share of profit from associates jumped 48.4% YoY to THB 118 million, aided by CRC’s 40% stake in JD Sports Fashion Thailand.
CRC further solidified its balance sheet, keeping total interest-bearing debt at THB 71,929 million. The company’s net interest-bearing debt-to-equity ratio stood at 0.8x, comfortably below its 2.0x limit. Basic EPS climbed 61.2% YoY to THB 0.35.
Management continues to execute its “New Heights, Next Growth” strategic agenda focused on customer experience and operational efficiency. Expanding its core food footprint post-quarter, CRC acquired 100% of AEON (Thailand) Co. Ltd. on October 6, 2026, adding supermarket branches and strengthening its regional market presence.
