Analyst & investor day presentation slide. Source: Conn's
Conn's is a retail chain that specializes in financing small-dollar consumer purchases from electronics to furniture. It describes its core customer as having annual income between $25,000 and $60,000 per year, and an average FICO score of less than 620. Its borrowers at the lower end of the income spectrum would be likely beneficiaries of rising wages, which would improve the results of Conn's subprime loan book.
The company isn't without its sore spots. Last year, aggressive promotion attracted higher-risk borrowers and resulted in poor loan performance. But the trend is in its favor; the company slashed low-margin products and sought out more creditworthy borrowers. If the minimum wage jumps, I would expect it to benefit tremendously from increased demand from new customers, and decreased delinquencies among its existing customers.
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The article 3 Surprising Beneficiaries of a Minimum Wage Boost originally appeared on Fool.com.
John Maxfield , Jordan Wathen , and Sean Williams have no position in any stocks mentioned in this article.The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
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