Wednesday, October 1, 2025

 
Home Blog Page 232

PBS cuts 15% of jobs in wake of federal funding cut : NPR

0


A sign for the Public Broadcasting Service is seen on its building headquarters on Feb. 18, 2025 in Arlington, Va.

Kayla Bartkowski/Getty Images


hide caption

toggle caption

Kayla Bartkowski/Getty Images

PBS’s chief executive told public television officials Thursday that it was cutting about 15% of its jobs due to the move by Republicans in Congress to eliminate all federal funding for public broadcasting starting on Oct. 1.

Thirty-four PBS staffers were notified Thursday that their positions were being cut. Taken with the loss of a longstanding federal grant for an educational initiative earlier this summer, and the elimination of about three dozen other vacant positions, PBS will have lost more than 100 jobs in all.

PBS Chief Executive Paula Kerger said the system is taking a 21% hit in revenues.

“Over the last weeks, we have been working through how best to manage the impact of loss of federal funding,” Kerger wrote in a memo to station managers shared with NPR News. “Just like every single public media organization in the country, we are being forced to make hard choices.”

That result of the federal cuts from the Congressional rescission — or clawback — of planned expenditures of $1.1 billion over two years on public media and the decision of the Trump administration to kill a major grant from the U.S. Education Department.

“While we have seen good progress from our Foundation,” Kerger wrote, “including a significant grant from a major donor to help support the NewsHour and Kids content, we recognized that we need to make significant changes in our staffing and operations.”

She said that all facets of PBS would be affected, but that other steps had been taken first, such as cutting travel and merit pay evaluations.

PBS and PBS stations on average received 15% of their annual finances from the Corporation for Public Broadcasting. (PBS does not own any stations.) The not-for-profit corporation funneled federal funds to public television and radio stations as well as PBS and, to a lesser extent, NPR.

Some public media stations, including KQED in San Francisco and GBH in Boston, have embarked on their own rounds of layoffs in recent months.

NPR’s CEO, Katherine Maher, has said she will reduce the network’s budget by $8 million to offer savings to public stations most affected by the cuts. It is unlikely that that represents the full financial effect of the policy shift for the radio network.

In an appearance on the CBS Late Show, Maher told host Stephen Colbert that an estimated 70 to 80 of NPR’s 246 member stations could have to shut down.

NPR receives 1-2% of its annual funds from the CPB, which announced it will shut its doors at the end of this month. Public radio stations, on average, typically receive about 10% of their revenues from the CPB, and pay NPR for the right to broadcast its programs.

For some stations, particularly those serving rural and Native American audiences, the reliance on the federal largesse has been far greater.

Disclosure: This story was written and reported by NPR media correspondent David Folkenflik and edited by Managing Editor Gerry Holmes. Under NPR’s protocol for covering itself, no news executive or corporate official reviewed the story before it was posted publicly.



This story originally appeared on NPR

Elaine Hendrix Honors Giorgio Armani With Iconic ‘The Parent Trap’ Fashion Tribute

0


Instagram/@elaine4animals

Elaine Hendrix who played Meredith Blake in The Parent Trap has paid a special tribute to the late great Giorgio Armani, declaring that he designed one of her most important costumes from that film. The post opened up the floodgates of nostalgia and admiration from those who adored the film’s style.

Advertisement

In memorial tribute to the great one, Elaine Hendrix has been paying respect to him and honoring the late Giorgio Armani on social media with a fashion secret behind-the-scenes snippet from the making of the much-loved 1998 film ‘The Parent Trap.’ According to Hendrix, her white dress and blue pinstripe suit were designed by Penny Rose, while that light grey screened coat outfit was pure Armani. “Penny Rose knew how to dress a woman. So did Mr. Armani. What an honor,” Hendrix said.

Hendrix looked every bit the part of chicness in her own words, sporting a slick tailored light grey coat over a black top, carrying a black bag, and wearing her hair down in soft waves. The lush greenery and the stone patio behind her added to the timeless-cool aesthetic duo-of-the-90s fashion that defined her character of Meredith Blake-the chic fiancée who was totally opposed to camping.

That information hit a sentimental emotional chord for everybody who adored that flick, unloading a floodgate of nostalgic remarks. A commenter said, “I have searched so many times for the suit, now I know! Sooo good!!” Another one chimed in, “Wow…he designed that? That’s wonderful. And a great memory of him. He will be missed.”

The comment section was almost immediately flooded with admiration for the movie’s looks and performances. They called her a “QUEEN” more than once, agreeing that her style in the film was iconic. One admitted, “I was obsessed with these outfits,” while another exclaimed, “Tell me you still have it!!!” going on about the wardrobe’s eternal dating.

The post became a forum from which some urged for a sequel, with one hopeful remarking, “We need a sequel to this iconic movie. Please make it happen,” while others turned their attention back to Hendrix’s current undertaking with the comment, “Good luck on Dancing with Stars.”

Hendrix’s homage alluded to the fact and reminded us that the world of Armani would be incomplete without the acknowledgment of costume design as an art form in its own right. Her salute to the costume designers Penny Rose and Giorgio Armani is a salute to all who engaged in the collective creation behind the camera that makes magic on the screen. To the generation that grew up watching The Parent Trap, Meredith Blake’s wardrobe is still considered the pinnacle of onscreen sartorial excellence.

On the flip side, to Meredith Blake’s generation, the movies’ wardrobe would forever set the bar for vintage elegance.

Advertisement

Remembering Armani went a long way toward affording the fans more appreciation for what defined an era of film fashion. It is one worthy tribute to a man whose work will be inspiring forevermore.



This story originally appeared on Celebrityinsider

Justin Bieber’s ‘Swag II’ Album Isn’t Out as Promised & It’s Keeping Fans Waiting

0


Justin Bieber promised to release his new album, “Swag II,” but has yet to deliver on the promise, leaving fans waiting. The musician recently took Instagram by storm as he promoted another record weeks after dropping “Swag,” with announcements going out across the globe. Bieber’s post revealed that the album would drop at midnight, but a delay seems to be testing the patience of his fans.

Justin Bieber’s delay in ‘Swag II’ album release as promised on midnight has fans waiting

It appears there has been a delay in the release of Justin Bieber’s new album, “Swag II.” The pop singer had promised to deliver the record by midnight in a slew of Instagram posts from across the world, promoting the latest release. However, an alleged holdup has left his fans impatiently waiting and expressing their frustration on social media.

Several reports across social media platforms have confirmed that Bieber indeed did not drop the album, as promised, at midnight despite sending the internet abuzz with his posts. Moreover, his Spotify page reportedly crashed just as the clock struck midnight, when he had said he would drop it.

The delay sent social media users into a frenzy, as they shared hilarious GIFs and posts, communicating their discontent. “JUSTIN BIEBER, WHERE IS THE ALBUM?” one user demanded answers in an X (formerly Twitter) post before adding, “PLEASE. ITS BEEN 21 MINUTES.”

Another individual pointed out that Justin Bieber promoted the new record on his Instagram but hasn’t yet released the album. They noted in the post that he “once again promoted SWAG 2 album on his IG but album hasn’t dropped yet.” Meanwhile, others raised questions about the reported delay, apart from poking fun at the artist.

Instagram users even dropped comments on Bieber’s recent posts, which showed glimpses of the promotional tour. Many made remarks, questioning him about where the album was, including some who compared the delay to an April Fools’ Day prank. A few further joked that he has been so busy promoting the album that he actually forgot to release it.




This story originally appeared on Realitytea

NBA All-Star Game format changes up again for L.A. in 2026

0


The NBA’s quest to “create an All-Star experience that we can be proud of and our players can be proud of” continues in earnest and with a new partner.

NBC joins the effort to inject life into what has become a moribund endeavor. Under the NBA’s new broadcast deal, the network will air the Feb. 15 game that will be hosted by the Clippers at the Intuit Dome in Los Angeles.

Commissioner Adam Silver and others in the know floated a trial balloon Wednesday evening, revealing that the 2026 All-Star Game is likely to be a round-robin tournament consisting of three eight-player teams — two composed of U.S.-born players and one of players from other countries.

The NBA and the players’ union presented the format to the league’s competition committee on Wednesday and the response was positive, according to several media outlets.

Silver acknowledged that the convoluted format used this year “was a miss.” Three eight-man all-star squads and a fourth team of rookies and sophomores played a tournament of untimed games to a target score of 40 points.

Pitting U.S. All-Stars against those from other countries has long been an appealing concept to Silver. However, the league is about 70% American and 30% international, complicating a traditional one-game All-Star format. Creating two teams of eight U.S. all-stars and one team of eight from other countries would solve the numbers issue. The three teams would play one another in 12-minute-quarter round-robin games.

The impetus to devise a new All-Star Game format escalated when the final score in 2024 was a ridiculous 211-186. There was no defense for a game in which nobody played any defense.

Asked about the lack of effort in preventing the other team from scoring, then-Lakers center Anthony Davis shrugged and said, “It’s an All-Star Game.”

The simple East-West format of that game was an effort to get away from the musical performances, prolonged introductions and rosters drafted by team captains that had plagued the event for years.

Silver was searching for a way to generate effort from the players and excitement from the crowd, saying before the game, “we’re not necessarily looking for players to go out there as if it’s the Finals, but we need players to play defense, we need them to care about this game. And the feeling was that maybe — and I’ll take responsibility for it; as you know, I used to run something called NBA Entertainment — that we’d gotten carried away a little bit with the entertainment aspect.”

A combined 397 points didn’t cut it, especially the part about playing defense. The format tried in March was a flop, with Silver admitting, “We’re a bit back to the drawing board.”

Should the competition committee green-light the new format, fans in L.A. will be able to decide in February whether the NBA has finally created an All-Star event that appeals to players enough for them to make an effort.

Television ratings might increase simply because the All-Star Game will be aired on NBC during the Milan Winter Olympics. The game will be played in the afternoon rather than the evening and is expected to be followed by NBC’s daily Olympics prime-time show from Milan.

“[The Olympics] present an enormous opportunity for us to do something with an international competition instead of the traditional All-Star formats that we’ve used,” Silver said last spring.



This story originally appeared on LA Times

Up 120 % in 1 year! Is there further to run for the Rolls‑Royce share price?

0


Image source: Getty Images

The Rolls‑Royce (LSE: RR) share price has surged a phenomenal 122 % in the last year and become the darling of the FTSE 100

With shares in the aerospace and defence group continuing to climb, it made me wonder: have investors like me simply missed the boat?

Recent performance

There’s no doubt that the company’s shares have been on a tear in recent years. Its valuation has rocketed an impressive 123% higher to £10.70 as I write on 4 September.

Aviation demand is rebounding, defence budgets are lifting, and the group continues to win crucial long-term contracts.

Following the rally in recent years, the company now has a price‑to‑earnings (P/E) ratio of 15.7 which is a touch above the Footsie average of around 13. 

Having recently restarted dividend payments, the stock has a modest 0.7% dividend yield and remains one of the largest stocks in the UK large-cap index with a £90bn market cap

Valuation

Let’s compare it with industry peer  BAE Systems, which commands a much more lofty P/E of 27 and offers a dividend yield of 1.9 %. At face value that makes Rolls‑Royce’s valuation look cheap relative to its aerospace/defence rival.

That to me says there’s potential for the company’s share price to climb further in 2025 and beyond. BAE’s premium also reflects its long-term-quality, strong backlog and diversified programmes across air, maritime and more.

I think the fact that the company’s P/E ratio is broadly in line with the Footsie average is somewhat surprising. After all, this is a stock that has surged over 1,300% in the last five years.

Growth drivers

Back with Rolls-Royce, a 120%+ gain in 12 months is no small feat. It has clearly benefitted from its leading position in the revival of commercial aviation and higher defence spending.

Management continues to right the ship and that has been an enormous contributor to the current valuation. Free cash flow has continued to grow and earnings guidance remains strong for the year ahead. 

I think the current valuation is quite delicately poised with the P/E ratio of 15.7 being reasonable and reflecting its growth profile. For a strong global business that has improving fundamentals, that premium to the Footsie could be justified.

The company has a healthy order book and strong operational momentum. However, it’s not all sunshine, as with any investment, and particularly a hot stock like Rolls-Royce.

My verdict

Investors will be expecting a lot given its recent run and current price. The business must keep delivering and any threats to growth or margins could see the share price come under pressure.

There’s also cyclicality to the company’s business, and it does carry a some debt on its balance sheet, which introduces financial risk.

My verdict? I think the company’s share price could still have further to run, even though it’s delicately balanced at the moment.

But with solid fundamentals, a compelling potential growth story and reasonable relative value I think it’s certainly one for investors to consider for the long term.



This story originally appeared on Motley Fool

LAPD is assisting CHP in protecting Kamala Harris after Trump pulls Secret Service

0

Los Angeles police Metropolitan Division officers, meant to be working crime-suppression assignments in hard-hit areas of the city, are instead providing security for former Vice President Kamala Harris, sources told The Times.

The department is “assisting the California Highway Patrol in providing protective services for former Vice President Kamala Harris until an alternate plan is established,” said Jennifer Forkish, L.A. police communications director. “This temporary coordinated effort is in place to ensure that there is no lapse in security.”

A dozen or more officers have begun working a detail to protect Harris after President Trump revoked her Secret Service protection as of Monday. Sources not authorized to discuss the details of the plan said the city would fund the security but that the arrangement was expected to be brief, with Harris hiring her own security in the near future.

Trump ended an arrangement that had extended Harris’ security coverage beyond the six months that vice presidents are usually provided after leaving office. California officials then put into place a plan for the California Highway Patrol to provide dignitary protection for Harris. At some point, the LAPD was added to the plan, according to the sources, as California law enforcement scrambled to take over from the Secret Service on Monday.

A security detail was captured outside Harris’ Brentwood home by a FOX 11 helicopter as the station broke the story of the use of L.A. police.

The Los Angeles Police Protective League, the union that represents rank-and-file LAPD officers, criticized the move.

“Pulling police officers from protecting everyday Angelenos to protect a failed presidential candidate who also happens to be a multi-millionaire, with multiple homes and who can easily afford to pay for her own security, is nuts,” its board of directors said in a statement to The Times. Mayor Karen Bass “should tell Governor Newsom that if he wants to curry favor with Ms. Harris and her donor base, then he should open up his own wallet because LA taxpayers should not be footing the bill for this ridiculousness.”

Newsom, who would need to sign off on CHP protection, has not confirmed the arrangement to The Times. Izzy Gordon, a spokesperson for Newsom, simply said, “The safety of our public officials should never be subject to erratic, vindictive political impulses.”

Newsom’s office and Bass’ office had discussions last week on how best to address the situation, according to sources not authorized to talk about the details.

Bass, in a statement last week, commented on Trump scrapping the security detail for Harris, saying, “This is another act of revenge following a long list of political retaliation in the form of firings, the revoking of security clearances, and more. This puts the former Vice President in danger and I look forward to working with the governor to make sure Vice President Harris is safe in Los Angeles.”

Her office did not respond to comment on the LAPD deployment on Thursday.

Two law enforcement sources told The Times that the Metro officers had been slated to go to the San Fernando Valley for crime-suppression work before their assignment changed.

Deploying LAPD officers to protect Harris was a source of controversy within the department in years past.

During L.A. Police Chief Charlie Beck’s tenure, when Harris was a U.S. senator, plainclothes officers served as security and traveled with her from January 2017 to July 2018. It was an arrangement that then-Mayor Eric Garcetti said he was unaware of until Beck’s successor ended it. Beck said at the time through a spokesman that the protection was granted based on a threat assessment.

Beck’s successor, Michel Moore, ended the protection in July 2018 after he said a new evaluation determined it was no longer needed. The decision came as The Times filed a lawsuit seeking records from Garcetti detailing the costs of security related to his own extensive travel.

Trump signed a memorandum on Thursday ending Harris’ protection as of Monday, according to sources not authorized to discuss the security matter.

Former vice presidents usually get Secret Service protection for six months after leaving office, while former presidents are given protection for life. But before his term ended, then-President Biden signed an order to extend Harris’ protection beyond six months, to July 2026. Aides to Harris had asked Biden for the extension. Without it, her security detail would have ended last month, according to sources.

The Secret Service, the CHP and Los Angeles police do not discuss details of dignitary protection in terms of deployment, numbers, or travel teams. CNN first reported the removal of Harris’ protection detail.

The curtailing of Secret Service protection comes as Harris is about to begin a book tour for her memoir, titled “107 Days.” The tour has 15 stops, which include visits to London and Toronto. The book title references the short length of her presidential campaign. The tour begins next month.

Harris, the first Black woman to serve as vice president, was the subject of an elevated threat level — particularly when she became the Democratic presidential contender last year. The Associated Press reports, however, a recent threat intelligence assessment by the Secret Service conducted on those it protects, such as Harris, found no red flags or credible evidence of a threat to the former vice president.



This story originally appeared on LA Times

Dolce & Gabbana Hits the Club for Fall 2025 Campaign

0


Mona Tougaard and Vittoria Ceretti front the Dolce & Gabbana fall-winter 2025 campaign. Photo: Steven Meisel / Dolce & Gabbana

Step into the night, because Dolce & Gabbana just made the dance floor the new runway. The fall-winter 2025 campaign, shot by legendary photographer Steven Meisel, dives into a hypnotic club scene where every flash of light feels like a moment of glamour.

Dolce & Gabbana Fall/Winter 2025 Campaign

Dolce gabbana fall winter 2025 campaign02

Fronted by models Vittoria Ceretti and Mona Tougaard, the campaign blends high-fashion polish with raw, underground energy. Baron & Baron’s creative direction sets the mood. There are shadows, spotlights, and an unapologetic edge. It’s a celebration of nightlife where style shines and seduces.

Dolce gabbana fall winter 2025 campaign03

The Dolce & Gabbana looks are bold yet effortless. Think body-skimming mini dresses dripping in sequins, biker boots heavy with buckles, and leather bags that don’t ask permission to take up space. There’s a magnetic energy in every frame, a reminder that confidence is the real accessory.

Dolce gabbana fall winter 2025 campaign04

Dolce & Gabbana is capturing a feeling this season. The kind you get when you walk into a club and all eyes follow. The fall-winter 2025 campaign proves once again that fashion goes beyond what you wear. It’s about how you own the night.



This story originally appeared on FashionGoneRogue

DOUBLE DIPPING: Son of Minnesota AG Keith Ellison Wants to Keep Six-Figure City Government Job While He’s Away at Harvard (VIDEO) | The Gateway Pundit

0


Screencap of Twitter/X video.

Jeremiah Ellison is the son of Minnesota Attorney General Keith Ellison. He earns a six-figure salary as a member of the Minneapolis City Council.

The younger Ellison has now been awarded a fellowship at Harvard University in Massachusetts, a paid position, but he does not want to give up that sweet gig as a city councilor, naturally.

Even though he claims he is going to travel back to Minneapolis for some meetings, this situation is not sitting well with some of his fellow councilors.

FOX News reports:

Keith Ellison’s son to keep 6-figure Minneapolis councilmember salary during fellowship at Harvard

Minneapolis City Councilman Jeremiah Ellison says he will continue receiving his six-figure salary despite accepting a full-time fellowship at Harvard, he announced Wednesday.

Ellison, the son of Minnesota Attorney General Keith Ellison, is now facing criticism from his fellow councilmembers, who note that he will not be able to attend meetings and fully carry out his role. Ellison currently receives a roughly $110,000 salary for his role on the council, and his fellowship at Harvard is a paid position.

“I am extremely disappointed in this, and I hope that my colleagues don’t allow this to happen — something to happen to North Minneapolis that is not good for them just once again,” council member LaTrisha Vetaw said during a press conference last month.

“Without Council member Ellison sitting on those committees, we have zero North Minneapolis representation on those committees. That’s not acceptable to the only other North side council member up here,” she added…

Council rules mandate that members must be physically present both to attend meetings and vote.

See the video report below:

The fact that Jeremiah Ellison is even serving on the Minneapolis City Council tells you that he has greater political aspirations. This situation could potentially complicate those plans.




This story originally appeared on TheGateWayPundit

Mark Zuckerberg Insisted I Attend MMA Training: Ex-Meta Exec

0


Mark Zuckerberg loves MMA so much that he’s rented out entire arenas, sparred on a barge, had major surgery to fix a fighting injury, won medals, and built a “backyard” octagon at his Ko’olau Ranch compound in Hawaii. And according to a new book by the former president of global affairs at Meta, Zuckerberg even asked some company leaders to get on the mat.

“Mark’s commitment to MMA is so strong that he insisted one morning, during a management offsite, that some of his most senior executives join him for a training session,” wrote Nick Clegg in his soon-to-be-released book, How to Save the Internet (Penguin; November 11, 2025).

Related: Mark Zuckerberg’s Daily Routine: The Schedule of the Meta CEO Who Wears the Same Thing Every Day and Trains with MMA Fighters

Fast Company reports that, in the book, Clegg details one particularly uncomfortable-sounding scene, when he is being straddled on the mat by a colleague in a “Domination Mount” maneuver.

Clegg wrote it was “too close for comfort,” the outlet notes.

Meta investors have been warned in official filings that Zuckerberg and other members of management participate “in various high-risk activities, such as combat sports, extreme sports, and recreational aviation, which carry the risk of serious injury and death.”

The book also looks at the future of AI and how social media has changed the world, but as Semafor reports, if you’re looking for a tell-all about the inner workings of Meta, this is not it.

Related: ‘I Love This Sport’: Mark Zuckerberg’s Meta Enters Into ‘Massive Partnership’ With UFC

Mark Zuckerberg loves MMA so much that he’s rented out entire arenas, sparred on a barge, had major surgery to fix a fighting injury, won medals, and built a “backyard” octagon at his Ko’olau Ranch compound in Hawaii. And according to a new book by the former president of global affairs at Meta, Zuckerberg even asked some company leaders to get on the mat.

“Mark’s commitment to MMA is so strong that he insisted one morning, during a management offsite, that some of his most senior executives join him for a training session,” wrote Nick Clegg in his soon-to-be-released book, How to Save the Internet (Penguin; November 11, 2025).

Related: Mark Zuckerberg’s Daily Routine: The Schedule of the Meta CEO Who Wears the Same Thing Every Day and Trains with MMA Fighters

The rest of this article is locked.

Join Entrepreneur+ today for access.




This story originally appeared on Entrepreneur

Is there a fast-food price war looming? Companies face difficult challenge if they go too high

0

Rising menu prices have caused traffic to dip at fast-food restaurants as economic concerns push their core customers to rein in discretionary spending. 

But fast-food companies that are already grappling with margin pressures face a difficult challenge: They risk alienating the very households that have long sustained their business if they raise prices too much.

McDonald’s announced this week it was doubling down on its value proposition to rejuvenate traffic among its cost-conscious customers.

But the move from such a behemoth could, in turn, ignite a shift in the entire industry, forcing its biggest rivals to follow suit with discounts of their own, especially within the same day, according to Mark Wasilefsky, head of restaurant and franchise finance at TD Bank.

The “Golden Arches” is bringing back Extra Value Meals – which haven’t been on menus since 2019 – as a menu category.

The company will offer eight meal bundles at breakfast, lunch and dinner, each costing 15% less than buying the items separately. 

Wasilefsky called the limited-time promotion a “power move” given how massive McDonald’s presence is in the US.

He argued that while the deep discount will force rivals to roll out similar deals, they likely won’t be able to top McDonald’s significant percentage cut.

Rising menu prices have led to economic concerns across fast-food restaurants in the nation. kanpisut – stock.adobe.com

“When you look at margin, 15% is an incredible discount,” Wasilefsky said.

“I think other brands will have to follow suit depending on the daypart. If it’s breakfast, and they compete in the breakfast space, they’re going to have to discount their breakfast.” 

The same applies to midday or the afternoon as well. Wasilefsky doesn’t believe McDonald’s promotion will start a pricing war because he doesn’t think anyone could beat that deal. Rather, “they will try to match them in routine with as many of their customers coming to their spot as possible,” he added. 

McDonald’s recently brought back Extra Value meals to lure back their cost-conscious customers. AP

However, sparking a price war isn’t the fast food giant’s intention – it’s about disrupting consumer routines, pulling loyal customers away from competitors like Dunkin’ and getting them hooked on McDonald’s offerings, so even after prices return to normal, the company hopes those new habits will stick, Wasilefsky said. 

“They do try to obtain new clients. But what you’re really trying to do is change consumer behavior. You’re keeping your existing clients and getting people to come to you for the value,” he added.

Simply put, it’s not about boosting short-term sales and more about shifting long-term customer behavior.

Other fast-food restaurants may do similar deals, but Mark Wasilefsky, head of restaurant and franchise finance at TD Bank, says rivals will not be able to compete with the “Golden Arches.” REUTERS

It’s geared to help them in the long term as the industry faces a turbulent period. 

The fast-food sector has faced a combination of challenges, from margin pressures due to supply chain issues and higher labor costs to subdued traffic industry-wide, with only a few exceptions like Chipotle and Cava, according to Wasilefsky. 

As of July, menu prices at limited-service restaurants, which include fast-food eateries, rose by 3.3% year over year, according to data from the National Restaurant Association.

Menu prices at limited-service restaurants peaked at 8.2% in April 2023, according to the data.

In the first fiscal quarter of 2025, McDonald’s saw sales at U.S. stores open for at least a year drop due to weaker-than-expected traffic across lower- and middle-income segments.

Starbucks – another chain that may feel the impact of McDonald’s promotion, Wasilefsky noted – said first-quarter traffic was still down from a year earlier.

In the second fiscal quarter of the year, profits at Wendy’s U.S. company-owned restaurants declined due to a combination of higher food and labor costs coupled with a decline in traffic. 

That consumer pullback may prove more structural than cyclical.

Will Auchincloss, who serves as the EY‑Parthenon’s Americas retail sector leader, said its consumer research points to the fact that Americans are beginning to adjust discretionary spending to offset rising costs for essential goods and services like food and housing. Restaurant spending, across all income cohorts, is the first to take a hit, he said. 

“With nearly 40% of lower-income households already pulling back, recent QSR [quick-service restaurant] price cuts may be a signal of a broader industry shift,” he said, adding that “Brands are facing mounting pressure from value-conscious consumers, and if this trend accelerates, we could see a realignment of pricing strategies across the sector.”



This story originally appeared on NYPost