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)
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.
-
Doing the hustle: Are side gigs a sign of impending recession?In the Spotlight More workers are 'padding their finances while they can'
-
The ambiguous legal state of ectopic pregnancy careThe Explainer Rep. Kat Cammack's accusations of 'fearmongering' are the latest example of how mixed messages are complicating the debate around abortion
-
New York plans first nuclear plant in 36 yearsSpeed Read The plant, to be constructed somewhere in upstate New York, will produce enough energy to power a million homes
