Equity Analysis /
Thailand

TH : Retail - What did the cash register say in 1Q22?

    Chaiyatorn Sricharoen
    Chaiyatorn Sricharoen

    Research Analyst, CFA

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    CGS-CIMB
    1 April 2022
    Published byCGS-CIMB

    We believe all retail stores in Thailand posted positive SSSG in 1Q22F. Convenience and department stores likely delivered the strongest SSSG for the year in 1Q22F, with robust growth momentum through the year. CPALL and CRC are our top picks and high conviction calls.