This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Thank You SCOTUS, These 4 Companies LOVE Weddings

This story has been updated from its original publication on May 10, 2013.

NEW YORK ( TheStreet) -- With the Supreme Court's historic decisions this week to declare the Defense of Marriage Act as unconstitutional as well as its decision to overturn California's amendment banning gay marriage, the $50-billion wedding industry is about to get even bigger.

Market research specialist IBISWorld puts the size of the U.S. wedding industry at a whopping $50.6 billion. As consumers expand their disposable incomes, the wedding industry is expected to grow 2.3% over the next five years, IBISWorld forecasted said in its April 2013 report.

The Defense of Marriage Act, or DOMA, allowed the federal government to disregard same-sex marriages even if they were recognized by specific states, causing confusion for partners in matters such as Social Security benefits, tax returns and financial aid, among others.

The decision to declare the law unconstitutional came on the same day as the court nullified California's Proposition 8 amendment, which banned same-sex marriages in the state.

These two historic decisions means the wedding industry is about to get an even further boost from gay and lesbian couples looking to legalize their partnerships.

According to a survey by XO Group's (XOXO - Get Report) The Knot.com and The Advocate , a news resource specifically for the gay community "nearly 20% of our audience is planning to get married in the next one to three years," said Stephen Murray, Here Media's senior vice president for marketing and brand strategy. "That's a huge increase from even a year ago, and one that opens up an array of new opportunities for wedding, bridal and travel advertisers."

Here's a handful of companies already benefitting from the massive wedding industry.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BBBY $71.16 -0.52%
DISCA $33.96 0.09%
JWN $73.59 0.46%
SIG $130.19 0.39%
XOXO $16.39 0.99%

Markets

DOW 18,057.59 +17.22 0.10%
S&P 500 2,116.66 +4.93 0.23%
NASDAQ 5,095.3620 +12.4330 0.24%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs