If you're a retailer and not the average Joe, the proposed GOP tax bill gives you reason to cheer.
"The biggest beneficiaries will be U.S. domiciled corporations that derive [the] majority of profits in the U.S.," Cowen analysts Oliver Chen, Max Rakhlenko and Courtney Willson wrote in a note on Monday, Dec. 18.
The tax bill's latest version calls for dropping the federal corporate tax rate to 21% from the current 35%. Although polls find the proposal wildly unpopular with the public, Republican majorities in both houses of Congress seem likely to pass it on Tuesday, then send it to President Trump for signing Wednesday.
The Cowen analysts said likely winners under the measure include gym company Planet Fitness Inc (PLNT - Get Report) , clothing firm J. Jill Inc. (JILL) , and the beleaguered department-store sector, Kohl's Corp. (KSS - Get Report) , Macy's Inc. (M - Get Report) and Nordstrom Inc. (JWN - Get Report) . Other beneficiaries include Michael Kors Holdings Ltd. (KORS - Get Report) , Tapestry Inc. (TPR - Get Report) and YogaWorks Inc. (YOGA) .