Good day, Bad day
Getting used, Hedge funds
GOOD DAY FOR: Getting used, as the new wave of economy-fueled frugality is boosting sales at secondhand stores. While retailers like Macy’s are struggling, Winmark has seen double-digit jumps in same-store sales at its four used-item franchises, Plato’s Closet, Play It Again Sports, Once Upon a Child, and Music Go Round. Winmark itself posted a 19 percent jump in quarterly profit. Goodwill and Salvation Army have also reported increasing sales. (MarketWatch)
BAD DAY FOR: Hedge funds, after new estimates from Singapore-based Eurekahedge have the global hedge fund industry losing $100 billion in assets in October. Market losses and investor withdrawals hammered the $1.7 trillion industry. (Bloomberg)
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
'Biden is smart to keep the border-security pressure on'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Bird flu worries mount as virus found in milk, cows
Speed Read The FDA found traces of the virus in pasteurized grocery store milk
By Peter Weber, The Week US Published
-
Palazzo Durazzo Suites in Genoa: a palatial gem in northern Italy
The Week Recommends Live your Italian dream in this astonishing and recently restored palace in the heart of the city
By Nick Hendry Published