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Target Sounds the Alarm Bell on Holiday Shopping; Is World`s Tallest Animal in Danger?; 2034 World Cup Host Unveils New Stadium Design; Hundreds of Red Crabs Migrate in Australia. Aired 4-4:10a ET

Aired November 22, 2024 - 04:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

COY WIRE, CNN 10 ANCHOR: Hello everyone, I`m Coy Wire. This is CNN 10 and it`s Friday, Fri-yay. A big part of the yay. I have some news outside of

the news to get to you today.

We have closed submissions for our first ever Teacher of the Year Award and you all brought it. And when I say brought it, I mean we got about a

gazillion submissions and they are awesome. The well thought out letters you wrote about why your teacher deserves the award. Now, we`re going to

have off next week for Thanksgiving break and we`re going to further whittle down that list that we`re working on. And soon I`ll be coming to

visit some of you to help celebrate your awesomeness.

All right, we`ve got a banger of a show today, so let`s get you a quick hit in 10 minutes of news. We start with news about the retail industry heading

into the holiday shopping season with one major retailer saying that this year they are not selling quite as well as they`d expected.

Target announced they now expect their sales between October and December to barely increase at all, which is really unusual for the holidays. So why

does this matter? What could it mean?

Well, Target is often seen as a bellwether, meaning an indicator of how people are feeling about spending. And if a major retailer like Target

isn`t doing well, then there is a chance smaller businesses might not be doing so well either.

So is this just a Target thing? Are people still spending, just choosing to go elsewhere, or are people choosing to save up and not spend as much as

usual? CNN`s Vanessa Yurkevich spoke with one retail industry expert to get his thoughts on what could be going on.

(BEGIN VIDEOTAPE)

JOSEPH FELDMAN, SENIOR RESEARCH ANALYST, TELSEY ADVISORY GROUP: I think Target`s got an issue with the consumer really just not spending as much on

discretionary goods right now. There`s some self-inflicted wounds here on Target`s part, but Target can improve and we do expect them to improve. And

I think next year, things should start to look a little bit better for them.

VANESSA YURKEVICH, CNN BUSINESS & POLITICS CORRESPONDENT: So is Target losing their customers to brands like Walmart, TJ Maxx?

FELDMAN: It does seem like Target is losing some market share. It would appear that the customer is spending more at Walmart right now. They`re

winning there and prices are amazing at Walmart. They`re generally the lowest. Every time we`ve done a pricing study, they`re the best place to go

to shop.

YURKEVICH: Target is often considered a bellwether for consumer spending. So what does it say about retail?

FELDMAN: Target historically has been a very strong bellwether for the consumer, especially that middle to upper income consumer. And with the

flattish type sales, that kind of fits in with the narrative that we`re hearing. Now the consumer has been resilient. The consumer is focused on

newness and innovation. And when there`s some differentiation with the product, they`re spending. Target saw all of that. And you could argue that

are some consumers trading down a little bit to Walmart or is Walmart just doing a better job reaching up and capturing customers? That`s part of it

too.

YURKEVICH: What does this say about holiday spending overall? I mean, Target, a lot of people go in for one thing, come out with five different

things. Is the expectation that consumers are just not ramping up spending during the holiday season?

FELDMAN: We think with the -- the way the election turned out actually will give a little more confidence to the consumer. I think it`s less of a

distraction. I think there was a lot of concern prior to the election that we`d be worried about, you know, litigation and potential violence on the

streets.

We don`t have that. The consumer can settle down and really now focus on the holiday season and focus on getting goods and gifts for their family.

And I think that we will see a relatively decent holiday season. It seems like there will be winners and losers. Walmart will be among the winners,

we believe. But we think spending will happen for this holiday season.

(END VIDEOTAPE)

WIRE: Tend second trivia.

Which endangered species are the world`s largest fish? Humpback whales, whale sharks, great white sharks or the polka-dotted superfish?

Answer is whale sharks, which grow up to 60 feet long with mouths that can stretch to nearly five feet. But did you know their throats are only about

the size of a quarter? So they can only eat things like tiny shrimp, fish and plankton. Whale sharks are hunted for their fins, meat and oils.

The world`s tallest animal may soon be added to the endangered and threatened species list. Giraffe populations are in fast decline according

to the U.S. Fish and Wildlife Service. How did this happen? Well, U.S. wildlife officials say it could be because of habitat loss, urbanization,

increasing droughts, as well as poaching, hunters killing them for their body parts. Since 1985, the populations of three subspecies of northern

giraffes have decreased from almost 26,000 to just under 6,000 today. That`s a 77% decline in the last 39 years.

The U.S. Fish and Wildlife Service has proposed listing many giraffe species as endangered or threatened, which would help put additional

protections in place for them under the Endangered Species Act. If the proposal is approved, it would be the first time ever that giraffes would

receive those types of federal protections.

(BEGIN VIDEOTAPE)

UNIDENTIFIED FEMALE (voice-over): Glossy computer-generated footage shows the design plans for Saudi Arabia`s King Salman Stadium in Riyadh. The

stadium will seat more than 90,000 people and is designed to host matches for the 2034 World Cup. Saudi Arabia is the only country with a bid for

2034. Amnesty International has urged FIFA to stop the process of awarding Saudi Arabia the World Cup until major human rights reforms are announced,

citing concerns that migrant workers are being exploited.

YASSER AL MISEHAL, SAUDI ARABIA FOOTBALL PRESIDENT: The 2034 World Cup is our invitation to the world to witness Saudi Arabia`s development,

experience its welcoming society, culture and heritage and become part of its history.

UNIDENTIFIED FEMALE: King Salman Stadium will be part of a sports complex and is expected to be the home of the Saudi national team. The facility is

scheduled to be completed by the end of 2029.

(END VIDEOTAPE)

WIRE: Today`s story getting a 10 out of 10 just might leave you shell- shocked. Millions of crabs swarming and taking over an island. Yes, I said millions. The red crab migration takes place every year on Christmas Island

in Australia, creating the island`s biggest tourist attraction, with droves and droves of the red crabs crawling away from the forest on a beach trip.

So how do they all know when it`s time to pack up and go? CNN`s Louise McLoughlin explains.

(BEGIN VIDEOTAPE)

LOUISE MCLOUGHLIN, CNN CORRESPONDENT: This is the famous mass red crab migration at Christmas Island in Australia, an island that lies in the

Indian Ocean about 2,600 kilometers northwest of Perth. Every year millions of crabs travel from the forest to the ocean to breed. The migration starts

with the first rainfall of the wet season. This is usually in October or November.

The crabs time their migration with the last quarter of the moon. Male crabs lead and the females join. The spectacular phenomenon is Christmas

Island`s biggest tourist attraction.

(END VIDEOTAPE)

WIRE: That`s incredible. Those crabs are claw-fully determined.

All right now, time for our shout out of the day. This one goes to Madison High School in Vienna, Virginia. Thank you for making us part of your day

and showing our show so much love.

Next week is Thanksgiving, as I mentioned, so we`ll be off on break.

Cue that Friday Music Not Air. We hope that you all know that one of the things for which we are most grateful is you. Best viewers in the world.

You are more powerful than you know. Next time I see you, it`s going to be December. Hope you get some quality time with your family and friends. Have

an awesome break, y`all.

I`m Coy Wire and we are CNN 10.

END