CREDIT SUISSE: Huge demographic changes in the US could hit these 14 retail stocks

The demographic makeup of the US will change dramatically over the next 10 years, and a new report from a group of Credit Suisse analysts led by Seth Sigman shows that those changes could have a big impact on consumer spending and the well-being of certain industries.

According to the report, the following demographic changes will have the biggest impact on consumer spending:

"Lower growth in under 25-years-old cohort."
"Growing young adult population."
"Shrinking middle-age population."
"Growing older population."

"Our analysis is most positive for Home Improvement, Leisure-related categories (e.g., RV's, boats), and Staple categories (Healthcare, Household Supplies, Food at Home) based on expected growth in the young adult and 65+ age cohorts, while less positive for Apparel/Footwear, General Sporting Goods, Home Furnishings, Casual Dining, based on a shrinking middle-age group," the analysts wrote.

Following are 14 stocks Credit Suisse thinks could be negatively affected by demographic changes in the US.

Hudson's Bay Company

Shrinking middle-age population; old population spends less

Source: Credit Suisse

JCPenney

Shrinking middle-age population; old population spends less

Source: Credit Suisse

Nordstrom

Shrinking middle-age population; old population spends less

Source: Credit Suisse

Kohl's

Shrinking middle-age population; old population spends less

Source: Credit Suisse

Macy's

Shrinking middle-age population; old population spends less

Source: Credit Suisse

Phillips-Van Heusen

Shrinking middle-age population; old population spends less

Source: Credit Suisse

Ralph Lauren

Shrinking middle-age population; old population spends less

Source: Credit Suisse

Denny's

hrinking middle-age population; old population spends less

Source: Credit Suisse

Bloomin' Brands

hrinking middle-age population; old population spends less

Source: Credit Suisse

Pier 1 Imports

Shrinking middle-age population; old population spends less

Source: Credit Suisse

Williams Sonoma

Demographic driver: Shrinking middle-age population; old population spends less

Source: Credit Suisse

Dick's

Hibbett Sports

GameStop

Less growth in under-25-year-old population.

Source: Credit Suisse

CREDIT SUISSE: Huge demographic changes in the US could hit these 14 retail stocks

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