The Hustle Daily Show Why Thanksgiving turkey is so cheap this year
Nov 26, 2024
The holiday season is marked by rising prices, but turkey is surprisingly cheap this year, thanks to strategic discounts from major retailers. The discussion highlights Macy's financial woes and their new streaming deal for the Thanksgiving Parade. Unique brand collaborations, like KFC teaming up with Build-A-Bear, are also explored. Amidst declining Lunchables sales and food trend struggles, the hosts delve into the economic landscape, revealing how turkey serves as a loss leader to attract shoppers despite inflation's impact on other holiday expenses.
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Macy's Accounting Issues and Parade Success
- Macy's revealed an employee misreported $154M in expenses over three years, delaying their earnings report.
- Preliminary earnings show quarterly sales dipped 2.4%, but their Thanksgiving Day Parade TV rights are tripling to $60M annually.
Unlikely Brand Partnerships
- KFC partnered with Build-A-Bear for stuffed animal accessories, including a KFC bucket costume.
- Krispy Kreme launched Grinch-themed donuts, including a Grinch donut filled with "coal" (cookies and cream).
Lunchables Decline
- Lunchables sales dropped 12% in Q3, impacting parent company Kraft Heinz.
- Factors include nutrition concerns, new competition (like Mr. Beast), and a failed school lunch program.