Eric wants to buy an anniversary present for Donna, but discovers his secret stash of money has been stolen. His suspicions on who the culprit is could lead to broken friendships. Meanwhile, Jackie enters a beauty pageant with Kelso as her "pageant boy".

A new department store, Price Mart, is opening and Red seeks a managerial position, until Eric is hired as a stock boy first, much to his annoyance. Meanwhile, Laurie wants a real relationship with Kelso, and Kelso is unsure if he should continue dating her. He tries to end it, until Laurie threatens him with revealing his infidelity to Jackie.