GOOD DAY FOR: Being numéro un, after a new study of 18 wealthy countries found that the French spend the most time eating and sleeping. The French sleep an average of nine hours a night, and spend more than two hours a day eating. The Japanese also spend almost two hours eating, but they get the least amount of sleep, along with Koreans. Mexicans only spend about an hour a day eating. Americans ranked second in the sleep category, logging more than 8.5 hours a night. (Reuters)
BAD DAY FOR: Bargain hunters, after discount high-end clothing mainstay Filene’s Basement filed for bankruptcy and said it would sell at least 17 of its 25 stores. Filene’s said the slump in consumer spending was the last straw, after it already lost market share to steeper discounters such as T.J. Maxx and had to compete against fire sales at ritzier retailers like Saks. Crown Acquisitions said it will bid on some of the Filene’s stores. “This is a time when the high-end guys have no credit, have no money,” said Crown Chairman Stanley Chera. “This is a tremendous opportunity.” (The New York Times)
Create an account with the same email registered to your subscription to unlock access.