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Thursday A.M. Report

Target sales falter, Gander Mountain sales rise, Midwest economy improving, General Growth reorganizing, and Wild launch foundation.

Target same-store sales slip in November: Target’s same-store sales declined 1.5 percent in November, despite a post-Thanksgiving sales bump. “Sales were slightly below our expectations for November, as softer results in the first three weeks of the month were substantially offset by better-than-expected sales during our post-Thanksgiving Two-Day sale,” said Target Chairman, President and CEO Gregg Steinhafel. Read full story

Guns and ammo lift Gander Mountain Q3 sales 2.5 percent: Gander Mountain Co said sales of guns, ammo, fishing gear, apparel, marine and camping equipment helped it to a 2.5 percent increase in sales in the third quarter. The firm said sales were $276.6 million, compared with $269.9 million in the same period of 2008. Read full story

Beige Book: Midwest economy improving: Economic activity in the Upper Midwest continued to improve over the past month, according to the Federal Reserve’s Beige Book report. The professional services, manufacturing, energy, mining and residential real estate sectors all saw moderate increases in the Ninth District. The agriculture and tourism sectors reported mixed results, while consumer spending was stable. Commercial construction and real estate activity decreased. Read full story

General Growth files reorganization plan: General Growth Properties said it has filed its plan of reorganization with the bankruptcy court in the Southern District of New York for the 92 regional shopping centers, office properties, community centers and related subsidiaries associated with about $9.7 billion of secured mortgage loans. Chicago-based General Growth, which filed for Chapter 11 in April, owns or holds a stake in about 200 malls, including Eden Prairie Center, Ridgedale Center in Minnetonka and Knollwood Mall in St. Louis Park. Read full story

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Minnesota Wild launches foundation: The Minnesota Wild have announced the  establishment of a nonprofit organization that will support educational initiatives, children’s medical causes and youth hockey throughout Minnesota. The team officially launched the Minnesota Wild Foundation at last night’s game against the Nashville Predators at Xcel Energy Center. Read full story