On January 28, the share price of Moshi Moshi Retail Corporation Public Company Limited (SET: MOSHI) surged, driven by speculative buying based on the expectation that performance in 2026 will grow compared to 2025. During the day, the price peaked and closed at THB 35.25, an increase of THB 2.25, or 6.82%, with a total trading value of more than THB 56.89 million.
Sa-nga Boonsongkor, CEO of MOSHI, told “Kaohoon” that in 2026, the company targets sales revenue growth of 15-20% from the previous year, while maintaining profit growth at the same level as the past three years. Early in 2026, the performance continues to be positive. In the first 19 days of 2026, same-store sales growth (SSSG) rose by high single digits.
MOSHI has achieved continuous growth over the past three years. During the first nine months of 2025, the revenue was THB 2,512.71 million with a net profit of THB 427.65 million.
The strategy to drive growth comprises three main elements:
1) Branch expansion to allow customers greater access to MOSHI. For 2026, the company plans to open 35 new branches nationwide, with more than 10 branch spaces already secured. An investment budget of THB 200 million is allocated for opening new and renovating existing branches. Of this, THB 150-180 million is designated for new branch expansion.
2) Launching new products to continuously generate experience and novelty for customers by changing layouts or displays in-store.
3) Software development, which has been a focus for 2-3 years to drive sales. This enables the company to adapt quickly to market conditions and keep pace with competitors.
Additionally, in 2026, the company plans to adjust its target groups to boost sales, widening the range for growth opportunities. The main target group will be expanded to 13-35 years, with the secondary group covering ages 6-12. New marketing approaches are also prioritized, especially engaging customers rather than just creating awareness.
The lifestyle market in Thailand still has significant growth potential, with the current market size valued below THB 10 billion. Although 2025 saw several foreign players enter the Thai lifestyle market, MOSHI’s SSSG continued to increase, signaling its sales have not been cannibalized by competitors.
For consumer trends, customers favor products for shorter periods—dropping from 3-4 months down to only 1-2 months now, and new trends are emerging more frequently. This requires MOSHI to constantly adapt. Despite the economic slowdown, the company believes that the small market size of the lifestyle segment means it will not be significantly affected by the economic situation.
Sa-nga added that risk management in 2026 focuses on three main aspects: (1) Competition, which cannot be underestimated and requires ongoing monitoring of competitor movements. Nevertheless, MOSHI remains competitive; (2) Rapidly launching products in line with new trends; and (3) The economic slowdown, which is a major challenge and an uncontrollable factor. The company is closely monitoring the situation.
Financially, as a cash-rich company, MOSHI maintains a strong financial position, currently holding about THB 1 billion in cash. This is allocated into three parts: (1) for short-term investments to generate returns; (2) for shareholder returns; and (3) for medium- and long-term investments.
Moreover, the operating results for 2025 met targets, with sales revenue growth aimed at 15-20%, driven by strategy adjustments in line with circumstances. In 4Q25, SSSG stood at 2%, compared to over 15% in the previous year. The company’s board meeting to approve the 2025 budget is scheduled for February 23, 2026.
