Friday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.

Families struggle to pay for back-to-school shopping

Shopping for back-to-school essentials is becoming a challenge for families whose household budgets are stretched by surging inflation.

Mid-July is typically when shopping for necessities such as clothes, shoes, backpacks, classroom supplies and gadgets for the new school year gets underway.

Parents are expected to spend an average total of $864 on school items this year, about $15 more than last year, according to the national retail federation.

Restaurant steak sales strong despite inflation

Inflation is soaring, and yet, restaurant-goers are having a love affair with a high-budget item: steak.

In the three months ending on May 29, sales at Longhorn Steakhouse locations open for at least a year popped 10.6%.

Texas Roadhouse reported that in the first three months of the year, sales at company-owned restaurants open for at least a year jumped 16%.

Nestlé blames “unprecedented” increase in costs for price hike

Nestlé hiked its prices by 6.5% in the first half of 2022 as it grapples with what calls an “unprecedented” rise in costs.

The world’s largest food company raised its prices the most in North America, which saw a 9.8% increase.

Some UPS workers demand safer working conditions

Some UPS workers are demanding an end to what they say are unsafe working conditions amid sweltering summer temperatures.

Workers have also previously claimed there is poor ventilation in UPS facilities.

The company says it never wants employees to continue to work to the point that they risk their health or are unsafe and highlighted its “Cool Solutions” heat education program.

Supply chain issues impact Hershey Halloween candy

Hershey says consumers are demanding more regular and Halloween-themed candy than can be produced — at least, right now.

The company blames ongoing supply chain issues, especially higher dairy prices.