https://gcc.gnu.org/bugzilla/show_bug.cgi?id=90271
--- Comment #7 from Jakub Jelinek <jakub at gcc dot gnu.org> ---
On the store-merging side
--- gimple-ssa-store-merging.c.jj 2019-01-01 12:37:19.063943678 +0100
+++ gimple-ssa-store-merging.c 2019-04-29 16:45:38.333266338 +0200
@@ -4164,7 +4164,8 @@ lhs_valid_for_store_merging_p (tree lhs)
tree_code code = TREE_CODE (lhs);
if (code == ARRAY_REF || code == ARRAY_RANGE_REF || code == MEM_REF
- || code == COMPONENT_REF || code == BIT_FIELD_REF)
+ || code == COMPONENT_REF || code == BIT_FIELD_REF
+ || DECL_P (lhs))
return true;
return false;
alone fixes that. But the whole PR88709 needs to be fixed of course.