Josie, the daughter of the town's wealthiest businessman, faces problems at home and wishes to leave town but is disoriented. Her decision is finalized after she falls asleep in a Target dressing room. She awakens to find herself locked in the store overnight with the janitor, Jim, the town "no hoper" and liar.
After four high school friends are involved in a hit-and-run road accident, they dispose of the body and vow to keep the incident a secret. A year later, they each start receiving anonymous letters bearing the warning "I Know What You Did Last Summer."