Apparel retailers might be in for tough going if proposed tax reforms pass.
Among the measures that the House Republicans have proposed is a border-adjusted tax — a destination-basis tax — that would make it more expensive for U.S. companies to bring back their products for domestic sale. Apparel retailers top a list of the industries that would be most at risk by such a tax, according to a report by Business Insider.
"Apparel retailers have a relatively large proportion of goods that are imported (particularly as they tend to be more vertically integrated)," said Ike Boruchow, a senior analyst at Wells Fargo, in a recent note, according to the report.
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