See the brands that will get hit hardest as student-loan payments come due, including Nike, Nordstrom, Gap, and Crocs
Apparel sales, in particular, will take a big hit when the repayment pause ends, UBS analysts led by Jay Sole said in a new report.student-loan borrowersThe retailers most at risk include Crocs, Nike, Nordstrom, Canada Goose, and Victoria's Secret, the analysts found.
Other retailers whose sales are likely to suffer are American Eagle Outfitters, Carter's, Foot Locker, Under Armour, Gap, and Shopify, according to the survey. Consumers faced with inflation and other economic woes are likely to defer apparel purchases more than other types of spending – such as entertainment, vacations, home improvements, and dining out – and this trend is even more pronounced among consumers with student loans, the analysts said.
"We believe this indicates student loan consumers will reduce spending on apparel in a big way when they have to start paying off their student loan debt." to lift the debt ceiling on June 3, averting a US debt default with just two days to spare. The measure followed tense negotiations between Biden and House Speaker Kevin McCarthy. It kept the country from defaulting on its obligations, but the compromise deal alsothat has kept borrowers from having to repay student loans.
The pause dates back to March 2020, when it went into effect under former President Donald Trump as a way to provide financial relief amid shutdowns caused by the COVID-19 pandemic.or 60 days after the US Supreme Court rules on legal challenges to Biden's plan to cancel up to $20,000 in student loan debt.Subscribe to push notifications
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nordstrom Anniversary Sale 2023 preview: Dates, early deals and moreGet ready, get set and shop all the items we’ve been eyeing for months — on sale.
Read more »
Patagonia accuses Nordstrom of selling counterfeit items at the RackPatagonia is suing Nordstrom for committing trademark infringement by allegedly selling “thousands” of counterfeit Patagonia merchandise items at Nordstrom Rack stores after a yearslong partnership ended.
Read more »
13 Father’s Day Gifts From Nordstrom Your Dad Wants, But Won’t Ask ForJust remember to put my name on the card, too. 🧢
Read more »
Brent may rise toward $100/bbl as Saudi output cut could worsen supply gap - analystsA global shortfall in crude oil supply is set to deepen in the third quarter as the world's top exporter Saudi Arabia pledged extra output cuts from July in a move likely to push Brent towards $100 a barrel by the end of the year, analysts said.
Read more »
Letter: 'Trickle down' has widened the income gapA Naperville letter to the editor: Much is said about the idle poor. According to the hard right and their enablers, the poor sit around doing nothing while collecting government handouts and food stamps and generally leech off society.
Read more »
Tucson's record-breaking triple-digit gap ends with Sunday's 101Tucson on Sunday reached 101 degrees, only the second time this year that the high temperature here has reached triple digits.
Read more »