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Business

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With higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren’t. The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald’s, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back their spending. Others, like Sweetgreen and Delta Air Lines, bucked the trend and reported growth. The takeaway? Consumers have become more selective about how and where they spend their dollars. “Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,” McDonald’s CEO Chris Kempczinski said on the company’s conference call in late April. For more than two years, consumers have dealt with sharply rising prices. This year, most companies expect that their pricing strategies will return to their pre-pandemic approaches,…