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Inflation, supply chain issues lead to profit drop for Target

Plus: The Interior Department to return land to the Leech Lake Band of Ojibwe; Kim Crockett under fire for GOP convention video featuring George Soros; Twins play-by-plan man Dick Bremer vs. a possum; and more.

A display case of juice is seen nearly empty at a Target store in Washington, D.C.
A display case of juice is seen nearly empty at a Target store in Washington, D.C.
REUTERS/Sarah Silbiger

Nicole Norfleet at the Star Tribune is reporting that Target stock has suffered the second-biggest single-day loss of value in the company’s history. The Minneapolis-based retailer dealt both with higher costs from supply chain issues and reduced discretionary spending on certain items like furniture as customers faced higher living costs. Target shares fell 25% after it announced that its profit for February, March and April was cut in half, well below analysts’ expectations.

Melissa Olson at MPR News tells the story of how, from 1948 to 1959, the Interior Department sold tracts of northern Minnesota land that belonged to the Leech Lake Band of Ojibwe. The band has submitted its survey detailing each of the parcels to be returned; 11,760 acres are expected to be restored to the community in coming months.

WCCO is reporting that officers in Coon Rapids attempted a traffic stop at about 11:30 p.m. Tuesday, near Hanson Boulevard and Gateway Drive Northwest. The driver of the vehicle fled and entered Anoka where it struck another vehicle on Main Street. Two people in the fleeing vehicle were killed.

Andrew Lapin at the Times of Israel has a story about Kim Crockett’s secretary of state campaign video that played at last weekend’s Minnesota Republican Convention in Rochester. The video depicted “the Jewish Democratic incumbent [Steve Simon] and another Jewish elections lawyer [Marc Elias] as being controlled by puppet strings held by Jewish philanthropist George Soros.” The Anti-Defamation League has called the frequent use of puppet-master imagery by conservatives to depict Soros antisemitic.

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Sam Brodey at the Daily Beast has written a piece about Jennifer Carnahan’s bid to replace her husband, Jim Hagedorn, in the First Congressional District. Brodey discusses Carnahan’s social media posts, casting the tie-breaking vote as party chair to give herself a $38,000 severance check, and her connection to accused sex trafficker Tony Lazzaro.

Samatha Fischer at KARE-11 profiles Minneapolis rocker Cindy Lawson, formerly of The Clams. After a decades-long hiatus, Lawson is back with a new record.

Charles Curtis at USA Today has a piece on the Oakland A’s multiple woes this season, including Monday night when Minnesota Twins play-by-plan man Dick Bremer announced to the world that he had to leave the booth at Oakland Coliseum so that an exterminator could come in to remove a possum.