FRGI - Retailers at risk from Florida's new $15 per hour minimum wage

Morgan Stanley sees upward wage pressure as a cost headwind for consumer retail stocks in general. In particular, the MS analyst team points to the new state-level minimum wage in Florida of $15 per hour (phased in) as a headwind for companies doing business in the Sunshine State. The retail company with the highest store exposure to Florida is Fiesta Restaurant Group (FRGI) at 47%, according to the firm. Rounding out the top ten at risk of seeing extra costs are Quest Diagnostics (DGX), Tiffany (TIF), PVH (PVH), Smoothie King, J. Alexander's (JAX), Dillard's (DDS), BJ's Wholesale Club (BJ), Bloomin' Brands (BLMN) and Floor & Decor (FND).

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Retailers at risk from Florida's new $15 per hour minimum wage