News

Moshi Moshi Retail Corporation Public Company Limited (MOSHI), a leading lifestyle retail chain in Thailand, has announced record-breaking financial results for fiscal year 2025, achieving operating revenue of 3,664.35 million baht, up 17.8%, and net profit of 670.22 million baht, up 28.7%. Same-store sales growth (SSSG) came in at a robust 6.95%, driven by the High Season and the success of popular licensed merchandise. The board has approved a dividend of 1.22 baht per share, raising the payout ratio from 50% to 60%, and has set a FY2026 revenue growth target of 15–20%, with a capital expenditure budget of 420 million baht to strengthen warehouse capacity and open 35 new branches.

Q4/2025 Performance

Ms. Suparada Rojwattana, Chief Financial Officer of MOSHI, revealed that in Q4/2025 (October–December), the company delivered outstanding growth, with total revenue of 1,170.02 million baht, up 11.3% year-on-year (YoY) from 1,051.43 million baht, and net profit of 242.57 million baht, up 17.8% from 205.93 million baht in the same period last year. Net profit margin expanded to 20.7%, while gross profit margin (GPM) improved significantly to 56.6%, rising 3.3 percentage points YoY and 0.9 percentage points quarter-on-quarter (QoQ), reflecting continuous improvements in cost management and product mix.

Key drivers this quarter included the peak shopping season (High Season), along with MOSHI's enhanced competitiveness through quality products at accessible price points, close alignment with market trends, and the introduction of thousands of new products. The company's international character licensing strategy also performed strongly, featuring popular IPs such as Care Bears, We Little RIIZE, PEANUTS SNOOPY & FRIENDS, ZOOTOPIA, and STITCH. In December alone, the company launched more than 2,000 new SKUs spanning diverse product types and designs, capitalizing on the Small Gift Exchange trend and seasonal products for Halloween and Christmas.

Full-Year FY2025 Performance

For the full year 2025, MOSHI achieved record-high results, with total revenue of 3,682.74 million baht, up 17.7% YoY from 3,127.90 million baht, and net profit of 670.22 million baht, up 28.7% YoY from 520.68 million baht. Net profit margin reached 18.2%, with full-year SSSG of 6.95%. Revenue breakdown: retail business 85%, wholesale 13%, and other channels 2%.

Standout products varied across categories, in line with seasonal trends and shifting consumer behavior. DIY customizable products received an overwhelming response, as did numerous licensed collection launches. During 2025, the company opened 38 new branches — 37 Moshi Moshi stores (including 7 standalone locations) and 1 Garlic store.

Dividend Declaration

At the board meeting on February 23, 2026, the board resolved to propose to shareholders a dividend payment for FY2025 of 1.22 baht per share, with the payout ratio raised from 50% to 60% of net profit — reflecting continued earnings growth and a commitment to rewarding shareholders. The record date is April 30, 2026, with payment scheduled by May 22, 2026.

FY2026 Outlook

CEO Mr. Sanga Boonsongkhrao stated that for 2026, MOSHI targets revenue growth of 15–20% and aims to maintain average SSSG of 3–5%. Despite intensifying competition from new domestic and international players in the lifestyle retail market, the company is confident in its ability to develop products that precisely meet consumer needs and rapidly adapt to evolving market trends, while continuously elevating the in-store experience to maintain a sustainable competitive edge.

For 2026, MOSHI has allocated a capital expenditure budget of approximately 420 million baht — 200 million baht for regular business operations and 220 million baht for the construction of a new warehouse to support future expansion. The company plans to open 35 new branches, including at least 5 standalone stores. As of Q1/2026, 3 branches have already opened: Big C Keha Romklao, Big C Hat Yai, and Lotus Pratumban.

As of February 23, 2026, MOSHI operates a total of 205 retail and wholesale branches: 197 Moshi Moshi retail stores (including 12 standalone locations), 2 Moshi Moshi wholesale stores, 4 Garlic stores, 1 Giant wholesale store, and 1 The OK Station wholesale store — covering 68 provinces nationwide, cementing its position as Thailand's leading lifestyle retail chain.