{"product_id":"rubytuesday-pestle-analysis","title":"Ruby Tuesday PESTLE Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMake Smarter Strategic Decisions with a Complete PESTEL View\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eDiscover how political shifts, economic pressures, and evolving consumer tastes are reshaping Ruby Tuesday’s prospects in our concise PESTLE snapshot—ideal for investors and strategists seeking fast, actionable context; purchase the full analysis to access detailed risks, opportunities, and ready-to-use strategic recommendations.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eolitical factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMinimum Wage Legislation\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe ongoing push for higher federal and state minimum wages raises Ruby Tuesday's labor costs; with 27 states as of late 2025 indexing minimums to inflation, average state increases of 3.2%–5.5% annually pressure payroll, lifting U.S. restaurant labor expense margins toward 30%–34% of sales versus historical 26%–29%.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTrade Policies and Tariffs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInternational trade agreements and tariffs on imported food and kitchen equipment directly affect Ruby Tuesday’s cost-efficiency; US tariffs on select food imports rose to an average of 3.4% in 2024, adding pressure to margins. Fluctuating trade relations with key agricultural partners—e.g., 2024 US beef import volatility with Brazil and Canada causing spot-price swings up to 12%—can spike ingredient costs for beef and seafood. Management must closely monitor tariff changes and hedging options to mitigate sudden increases in cost of goods sold.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHealth and Nutrition Regulations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFederal and state mandates on menu labeling—driven by the 2018 FDA guidance and local laws—push Ruby Tuesday to disclose calorie counts across ~130 U.S. restaurants; rising policy focus on obesity has led to proposals capping sodium and sugary-drink offerings, with CDC reporting 42.4% adult obesity (2017–2020) influencing regulatory scrutiny; adapting the Garden Bar and main menu to lower-sodium items could affect food costs and margins, as produce costs rose ~6% in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSmall Business Support Programs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eGovernmental tax incentives and recovery grants—such as the US Restaurant Revitalization Fund which distributed about $28.6 billion in 2021—affect Ruby Tuesday’s capacity to renovate or reopen franchised units and modernize kitchens.\u003c\/p\u003e\n\u003cp\u003eCorporate tax rate changes and depreciation rules for restaurant assets (bonus depreciation cut after 2022) alter after-tax cash flow and reinvestment timing, impacting ROI on remodels.\u003c\/p\u003e\n\u003cp\u003eFavorable fiscal shifts can accelerate footprint upgrades; adverse changes constrain capital expenditure and slow modernization.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRestaurant Revitalization Fund ~$28.6B (2021)\u003c\/li\u003e\n\u003cli\u003eBonus depreciation phased down after 2022 reduces near-term tax shields\u003c\/li\u003e\n\u003cli\u003eCorporate tax and grant policy directly affect CAPEX and remodel ROI\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eImmigration and Labor Supply\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePolitical debates over US immigration reform and H-2B\/H-1B visa caps directly influence Ruby Tuesday’s labor supply, with the restaurant sector reporting a 2024 turnover rate near 100% and 1.4 million hospitality job openings nationwide in 2024, heightening recruitment pressure.\u003c\/p\u003e\n\u003cp\u003eRestrictive policies reduce access to diverse back-of-house and front-of-house workers, risking service inconsistencies across Ruby Tuesday’s ~200 franchised and corporate units and potential wage inflation impacting margins.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 hospitality openings: ~1.4M\u003c\/li\u003e\n\u003cli\u003eRestaurant turnover: ~100% (2024)\u003c\/li\u003e\n\u003cli\u003eRuby Tuesday locations ≈ 200\u003c\/li\u003e\n\u003cli\u003eVisa caps tighten seasonal hiring, raising labor costs\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRising wages, higher COGS and tariffs squeeze margins as tax shields fade\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRising minimum wages (27 states indexed to inflation by 2025; avg annual +3.2%–5.5%) and turnover (~100% in 2024) raise labor margins toward 30%–34%; 2024 tariffs avg 3.4% and 2024 US–Brazil beef volatility ±12% increase COGS; menu-labeling\/sodium rules and produce +6% (2024) alter menu costs; RR Fund $28.6B (2021) and phasedown of bonus depreciation reduce near-term tax shields.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMin wage states indexed (2025)\u003c\/td\u003e\n\u003ctd\u003e27\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLabor margin (proj)\u003c\/td\u003e\n\u003ctd\u003e30%–34%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTariff avg (2024)\u003c\/td\u003e\n\u003ctd\u003e3.4%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eProduce cost change (2024)\u003c\/td\u003e\n\u003ctd\u003e+6%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eExplores how external macro-environmental factors uniquely affect Ruby Tuesday across Political, Economic, Social, Technological, Environmental, and Legal dimensions, with data-driven trends and region-specific examples to identify threats and opportunities for executives and investors.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise, visually segmented Ruby Tuesday PESTLE summary that’s easily dropped into presentations or shared across teams to streamline risk discussions and strategic planning.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eE\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003economic factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDisposable Income Trends\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDisposable income and discretionary spending drive casual dining frequency; U.S. real disposable personal income fell 0.4% year-over-year in Q3 2025, pressuring sit-down visits among families. Inflation eased to 3.6% in 2025 but sluggish wage growth led many households to shift toward quick-service options, with limited-service visits up ~2.5% in 2025. Ruby Tuesday should deploy targeted value promotions and bundled offers to defend share during tightening. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFood Inflation and Commodity Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpfood inflation with us cpi food up year-over-year in and wholesale beef prices rising from squeezes ruby tuesday gross margins as proteins produce dairy costs climb.\u003e\n\u003cpsupply-chain disruptions and global poultry demand volatility mean procurement must be agile frequent menu engineering hedging helped peers cut input cost impact by of sales in\u003e\n\u003cpmanaging these input costs is critical to preserve ruby tuesday value positioning and margins given industry food cost averages near of revenue in casual dining for\u003e\n\u003c\/pmanaging\u003e\u003c\/psupply-chain\u003e\u003c\/pfood\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInterest Rates and Debt Servicing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHigher U.S. policy rates in 2024–2025 (Fed funds ~5.25–5.50% as of Jan 2025) raise Ruby Tuesday’s cost of capital for restructuring and franchise growth, increasing interest expenses on variable-rate borrowings and new term debt.\u003c\/p\u003e\n\u003cp\u003eElevated rates amplify the burden on existing debt, curb capex for equipment and store refreshes, and slow rollout—constraining pace of modernization and expansion plans.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLabor Market Competition\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eCompetition for service-industry talent is driving wages above minimums; average hourly pay for restaurant staff rose to $15.40 in 2024, up 6% YoY, pressuring Ruby Tuesday's labor costs.\u003c\/p\u003e\n\u003cp\u003eRuby Tuesday competes with casual-dining peers, gig platforms and retail, where turnover averages 75% annually in 2024, increasing recruitment and training expenses.\u003c\/p\u003e\n\u003cp\u003eTo curb churn Ruby Tuesday likely needs higher benefits and culture investments; reducing turnover by 10% could save an estimated 3–5% of operating payroll.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAverage restaurant hourly wage: $15.40 (2024)\u003c\/li\u003e\n\u003cli\u003eIndustry turnover: ~75% (2024)\u003c\/li\u003e\n\u003cli\u003ePotential savings from 10% turnover reduction: 3–5% of payroll\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReal Estate and Occupancy Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eRising leasing costs for prime suburban and urban sites increase Ruby Tuesday’s fixed costs; average U.S. restaurant rents rose about 6.5% in 2024 year-over-year, with Class A urban rents up ~8% in 2024 (CoStar).\u003c\/p\u003e\n\u003cp\u003eDeclining mall foot traffic—mall visits fell ~15% between 2019–2023—reduces sales at mall-adjacent Ruby Tuesday locations, pressuring site-level margins.\u003c\/p\u003e\n\u003cp\u003eActive lease renegotiation and selective site exits can cut occupancy expense; renegotiations saved comparable chains 10–20% per-site in 2023–24.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigher urban\/suburban rents up ~6–8% (2024)\u003c\/li\u003e\n\u003cli\u003eMall visits down ~15% (2019–2023)\u003c\/li\u003e\n\u003cli\u003eLease renegotiation savings typically 10–20%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMargins Squeezed: Inflation, Labor and Rents Crimp Casual-Dining Recovery\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eWeak real disposable income and slower wage growth cut casual-dining visits in 2025; food CPI +6.5% in 2024 and wholesale beef +18% (2022–24) squeezed margins; Fed funds ~5.25–5.50% (Jan 2025) raised cost of capital; average hourly wage $15.40 and 75% turnover (2024) lifted labor costs; rents +6–8% (2024) and mall traffic -15% (2019–23) pressured site economics.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFood CPI (2024)\u003c\/td\u003e\n\u003ctd\u003e+6.5%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBeef (2022–24)\u003c\/td\u003e\n\u003ctd\u003e+18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFed funds (Jan 2025)\u003c\/td\u003e\n\u003ctd\u003e5.25–5.50%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAvg wage (2024)\u003c\/td\u003e\n\u003ctd\u003e$15.40\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTurnover (2024)\u003c\/td\u003e\n\u003ctd\u003e75%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRents (2024)\u003c\/td\u003e\n\u003ctd\u003e+6–8%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMall visits (2019–23)\u003c\/td\u003e\n\u003ctd\u003e-15%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eFull Version Awaits\u003c\/span\u003e\u003cbr\u003eRuby Tuesday PESTLE Analysis\u003c\/h2\u003e\n\u003cp\u003eThe preview shown here is the exact Ruby Tuesday PESTLE Analysis you’ll receive after purchase—fully formatted, professionally structured, and ready to use for strategic planning or investment review.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56751703425401,"sku":"rubytuesday-pestle-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/rubytuesday-pestle-analysis.png?v=1772234170","url":"https:\/\/matrixbcg.com\/products\/rubytuesday-pestle-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}