Consumer DemandConsumer demand continues to soften, and receivables guidance implies slightly slower sequential receivables growth in the second half.
Credit SalesCredit sales in 1Q were down 18% reflecting BJ’s portfolio sale, credit tightening, and moderating spending by consumers.
Late Fee RuleBFH expects an October 2024 late fee rule implementation will reduce 4Q24 total revenue by ~20%, net of mitigation.