customers have mostly shrugged off the higher menu prices and the revenue has gone up. what s going on there? both of those companies, walmart and mcdonald s are facing higher costs as is practically every company right now. the difference however is mcdonald s has been able to pass on some of the higher costs. walmart can t do that as much because their whole brand is centered around being a low-cost retailer. it s having to eat some of the costs and that s why it s warning about profit. but jake, one thing i should flag, we talked about this recently in terms of the retail sales data. wall mmart warning they re speng more of essentials like food and fuel and that s leaving less discretionary income. the reason that matters to a retailer like walmart is their profits are higher on categories like apparel. their profits are lower on essential categories like food and fuel. that s why we re seeing the profit warning. it s yet another data point, yet another sort of warning n
kristin fisher, thank you so much, appreciate it. perhaps the king himself didn t need the money, but his famous home and tourist attraction graceland in memphis, well, they sure might like some. a set of complicated tennessee state-issued bonds tied to tourist revenue have gone into default. the bonds were offered five years ago, proceeds used to fund a massive expansion at graceland. now 20% of the tourism bonds are in junk status. however, the financial challenges might prove temporary. attendance has been boosted by the new film elvis out in theater and the city will celebrate elvis week next month. you could say the public can t help falling in love with graceland. attorney general merrick
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