Monday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.
Pet food prices up 15%
Pet food prices in America were up 15% year-over-year in January, according to recent data from the Federal Reserve Bank of Minneapolis.
Fox News polled Americans and a minority said they may have to give up their pet if food prices continue to rise. Still, some owners said they would do whatever it takes to keep their pets.
Hospitality, health care industries add 207k workers in January
The country’s leisure and hospitality industry is rebuilding its workforce after cutting back during the coronavirus pandemic.
The hospitality and healthcare industries combined to add 207,000 workers in January — nearly half of that month’s private-sector gains.
Hiring remains strong among some of the country’s biggest companies.
Chipotle Mexican Grill, Inc., said in January that the chain plans to hire 15,000 workers in the U.S., while Kroger is recruiting former employees.
Restaurants work to snag fans during NCAA tournament
As March Madness begins, restaurants are making a mad dash to snag fans.
Menu specials and deals are in the works to boost sales both on- and off-premise during the NCAA tournament.
Buffalo Wild Wings is offering deals and wall-to-wall televisions. Qdoba and TGI Fridays are also having March Madness specials.
Food companies lean into air fryer boom
Nestle, Kellogg, Tyson Foods, and Gorton’s Seafood are among the food companies leaning into the air fryer boom to appeal to consumers.
Nearly 60% of U.S. households own an air fryer, according to nestle.
Sales of the cooking appliance have been soaring since 2017 and they received an extra boost during the early days of the pandemic as people cooked more at home.
Costco maintains low rotisserie chicken prices
Costco is maintaining the low price of their rotisserie chickens.
The membership warehouse has kept its rotisserie chicken priced at $4.99 because it is “an investment in low prices to drive membership – to drive the sales in a big way.”