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Thursday P.M. Report

Toro profits up nearly 70 percent, Kraus-Anderson to rebuild tornado-battered school, Business Journal to host governor’s panel, Target to test online luxury discounts.

Toro profits grow by nearly 70 percent on strong demand: Growing lawns meant green for Toro Co. in its third quarter as profits grew by 69 percent after a strong summer selling season, the company said today. Bloomington-based Toro bagged net earnings of $33.4 million, or $1.01 a share, in the quarter end July 30, up from $19.8 million, or 54 cents per share, in the prior-year period. Read full story

Kraus-Anderson to rebuild tornado-battered Wadena school: Kraus-Anderson Construction Co. will rebuild the Wadena high school destroyed by a tornado in June, the company said today. The Wadena-Deer Creek School District awarded the $30 million construction project to Minneapolis-based KA earlier this month. John Huenink, KA vice president and education group director, said KA met with the district shortly after the storm collapsed school walls, tore off most of its roof and caused widespread water damage. Each storm that has rolled through Wadena since has further damaged the unprotected school, which is slated for demolition, Huenink said. Read full story

Business Journal to host governor’s panel: Gubernatorial candidates Mark Dayton, Tom Emmer and Tom Horner will field questions on how they’d address business issues next week at the Minneapolis/St. Paul Business Journal’s 2010 Gubernatorial Breakfast Panel. The panel will be at 7:30 a.m. Tuesday at the University of St. Thomas Minneapolis campus. Admission to the event is $40; those interested can register online. Read full story

Target to test online luxury discounts: Target plans to tag-team luxury buyers online with web boutique Gift Groupe in a weekend sales experiment that launches Friday, reports. Gilt Groupe offers deep discounts on luxury fashion designs, making it a conceptual fit with Target, which often teams with high-profile designers to sell low-priced product lines. Read full story