Halloween on a tight budget

Americans are spending less on Halloween candy this year, and the pullback started early. Sales fell 6.7% in the month through Oct. 17 from a year earlier, according to market research firm NielsenIQ. By mid-September, when sales had grown in the past two years, they were down 11.7%.

Shoppers aren't necessarily balking at candy prices. Many can't afford candy after paying so much more for gas, housing, clothing, and food, said Chris Costagli, a vice president at NielsenIQ. Those still buying candy are going smaller. Sales of small bags rose through mid-October, while large and extra-large bags fell the most.

Candy has gotten pricier, too. Candy and gum prices are up 44% in five years, nearly twice as fast as grocery prices overall, and expensive cocoa is reportedly the main reason. Even cheaper candy isn't selling. Gummies and lollipops cost about 3% less than a year ago, yet their sales haven't budged, Costagli said.

Some shoppers may just be waiting until Halloween gets closer, said Sally Lyons Wyatt, an executive at research firm Circana, because people are buying groceries right before they need them. "I don't think Halloween is doomed," she said.

Sponsored

Can you spot investment mistakes before they cost you? Our guide, 13 Retirement Investment Blunders to Avoid, reveals common errors that can quietly erode your savings, so you can make more informed decisions for your future. You’ll learn ways to manage excessive fees, plan for inflation, invest beyond the US and stay disciplined through market swings. If you’ve saved over $1 million, these strategies can help position your portfolio to support a long, comfortable retirement. When you’re ready to talk through your situation, schedule a call with one of our dedicated professionals. We can discuss these strategies and opportunities to help improve your plan.

Semafor Flagship is the essential email briefing that connects global developments across politics, economics, climate, AI, and more. Each edition provides context and insight on the ten most important stories happening around the world.

Anthropic is officially on its way to the stock market. The maker of the Claude chatbot filed on Monday to list its shares on the Nasdaq under the ticker "ANT."

The company reportedly plans to start pitching investors as soon as Nov. 9 and expects to raise as much as or more than the $85.7 billion SpaceX secured in June in the biggest IPO ever. Anthropic's filing doesn't yet give a price range or say how many shares it will sell.

The filing shows how fast Anthropic is growing. Its revenue reached $16.3 billion in the first half of the year, more than 13 times as much as a year earlier. More than 11,900 customers each paid it at least $100,000 over the past year.

New shareholders won't have much say in how Anthropic is run. The founders will hold a single share that carries more votes than all other shareholders put together. The company's Long-Term Benefit Trust will also pick a majority of the board.

Sponsored