Many Americans are cutting back these days, but not luxury shoppers and high-income shoppers – consumer confidence is rising for both groups. MORNING CONSULT: https://fluence-media.co/3LP8Tgs
Newly-released data shows imports dropped 5.1% while exports rose 0.1% in August – tariffs on products from roughly 90 countries took effect August 7. READ: https://fluence-media.co/3X4Wrvq
Only one member of the House voted against releasing the Epstein files. READ: https://fluence-media.co/4o5XdmS
Today’s WCCO Radio morning take at 6:20 with Vineeta Sawkar. LISTEN: https://fluence-media.co/49yjlD3
Sunday Take included Fluence Advisory client Plift COO Glenn McElfresh discussing the federal hemp ban, how it impacts Minnesota THC businesses, and how lawmakers can help before it’s too late. LISTEN: https://fluence-media.co/3Xupc4S
Blois
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Fluence Advisory hosted a cannabis forum on the “State of Cannabis in Minnesota including an interview with Executive Director of the Office of Cannabis Management Eric Taubel.
FIRST…
LODGING: Via email this morning from Hospitality Minnesota, VERBATIM: “In October 2025, Minnesota’s occupancy rate landed at 58.3%, 7.5% lower than the overall U.S. occupancy rate of 65.8%, and 1.1% lower than the state’s occupancy rate in October 2024. The Minneapolis Central Business District (CBD) reported the highest occupancy rate in the state at 67.5%. Following Minneapolis CBD was Rochester, which last month had an occupancy rate of 65.7%.” DATA: https://fluence-media.co/480cUWJ
HIGHERED: Via Minnesota State, VERBATIM: “The Board of Trustees of the Minnesota State Colleges and Universities has voted unanimously to approve a contract extension of the employment agreement with Chancellor Scott Olson for a period of three additional years beyond its current end date of July 31, 2026. With the extension, the new end date for the employment agreement will be July 31, 2029.”
ALL EYES ON TARGET…
WHAT HAPPENED: Via Associated Press, VERBATIM: “Target’s third-quarter profit tumbled as the retailer struggles to lure shoppers that are being pressed by stubbornly high inflation. The Minneapolis company said Wednesday that it expects its sales slump to extend through the critical holiday shopping season . . . Investors have punished Target’s stock recently, sending it down 43% over the past year. Shares were essentially flat in early trading Wednesday.” READ: https://fluence-media.co/4piVFqM
NUMBERS: Via Reuters, VERBATIM: “A prolonged U.S. government shutdown that delayed federal pay and food-stamp benefits, as well as still-high inflation and tariff worries, forced consumers to retrench. Total comparable sales - from online channels and stores open for at least 13 months - fell 2.7% in the third quarter, compared with estimates of a 2.08% drop, according to data compiled by LSEG . . . Sales in the household essentials category fell 3.7% at Target, while digital comparable sales rose 2.4%. Digital sales, a bright spot in the past two quarters, missed expectations for 3.18% growth, according to Visible Alpha.” READ: https://fluence-media.co/47VdS6w
CHALLENGES: Via CNN, VERBATIM: “Target is betting that a new CEO and investments can spark a turnaround at the company. But Wednesday’s quarterly financial report showed there’s no quick fix to Target’s challenges. Target has proven over and over that it is poorly positioned to succeed in this uneven economy, selling the wrong mix of items for an increasingly frugal customer. Target specializes in cheap chic clothing and home decorations, but fewer customers believe they can find the best prices and deals there.” READ: https://fluence-media.co/4oOdTAD
WHAT’S NEXT: Via The Wall Street Journal, VERBATIM: “Target’s plan to fix its continuing sales slump involves billions of dollars in investment. Incoming Chief Executive Michael Fiddelke said the retailer would invest about $1 billion more next year to improve stores, its merchandise selection and digital capabilities, bringing total new investment next year to $5 billion. ‘Mission 1 through 10 is to get back to growth for us,’ Fiddelke said on a call with reporters. The changes will include store experience improvements and more exciting merchandise, along with better technology and e-commerce systems, he said. In recent years, shoppers have complained of messy stores, items missing on shelves and less exciting products.” READ: https://fluence-media.co/4849lit
WHAT’S PAST: From Fortune, a look back at the tenure of former CEO Brian Cornell, comparing it to the fate of Walmart which saw its shares increase 300% since its current CEO took over. VERBATIM: “In contrast, Target’s shares are only up 60% under Cornell—an underperformance compared with its rival but also with the overall market. Cornell’s tenure was seen as very successful until about 2022, as revenue soared during the pandemic, but the chain lost ground in the aftermath.” READ: https://fluence-media.co/4oPHg5G
ONE MORE THING: Via Axios, VERBATIM: “Target will let shoppers browse and buy products directly in ChatGPT, becoming one of the first major retailers to turn the AI chatbot into a shopping platform, the company said Wednesday. Why it matters: The launch marks another step in the rise of ‘agentic commerce,’ where AI anticipates what shoppers need — and checks out on their behalf.” READ: https://fluence-media.co/4pneYiP
BROADBAND: Comcast is rewriting the broadband playbook in the Twin Cities. From neighborhood networks to next-gen tech, we’re delivering community-first internet connectivity with no contracts, no surprises. The new Xfinity package means unlimited data, blazing-fast, reliable speeds and a 5-year price guarantee, plus free mobile for a year. It’s not the old Comcast — it’s a bold new era of connection. Let’s power the future, together. LEARN MORE: https://fluence-media.co/Comcast2025-1 (SPONSORED: Comcast)
MONEY
PROJECTS: Via MPR, VERBATIM: “In a series of presentations that can seem like speed dating sessions, lawmakers hear from state agency heads, college leaders and community officials about projects they’re working on and hoping to obtain state money to complete . . . There are appeals to replace wastewater treatment plants, swap out corroding pipes, address crammed jails or law enforcement headquarters and spruce up parks and rec centers. There’s not enough money for all of it. The ultimate bill will be a small fraction of the requests.” READ: https://fluence-media.co/4phxCbJ
ST CLOUD: via St. Cloud Live, VERBATIM: “Food insecurity has been on the rise since the COVID-19 pandemic, and the recent 43-day federal government shutdown highlighted issues that already exist in the system, state lawmakers said. … Sen. Aric Putnam, DFL-St. Cloud, [and] Sen. Majority Leader Erin Murphy, DFL-St. Paul, visited St. Cloud Catholic Charities Food Shelf in St. Cloud on Monday, Nov. 17, to learn about how they could better serve the needs of the community.” READ: https://fluence-media.co/3X0OBD9
PROPERTY TAX: Via Axios, VERBATIM: “In the Twin Cities, Anoka and Scott counties and 40 cities are contemplating double-digit property tax increases. In many communities, an outsized share of this pain will fall on homeowners as once-lucrative office spaces continue to decline in value.”
“Federal policy shifts are only partially responsible for these increases, which are also driven by the fast-rising costs for employee wages, energy, insurance and construction materials.” READ: https://fluence-media.co/3LLfRmM
EDINA: via Star Tribune, VERBATIM: “France Avenue near Southdale in Edina was designed for cars: six lanes across, with a 40 mph speed limit. But that easy access for drivers zipping in and out of the shopping district increasingly collides with the city’s hopes to build apartments in the area and make it friendlier to walkers and cyclists. … One solution, an estimated $20 million pedestrian tunnel, [has] won enthusiastic support from the City Council and some community members. But skeptics, including one council member, characterize the project as more of a ‘want’ than a ‘need,’ raising questions about spending so much to connect what are now two sites on tap for redevelopment.” READ: https://fluence-media.co/47NJkFb
CLEAN | RELIABLE | AFFORDABLE: Via Xcel Energy, VERBATIM: “We’re powering the Upper Midwest with clean, reliable, and affordable nuclear energy. For more than 50 years, our Prairie Island Nuclear Plant, located near Red Wing, MN, has been a workhorse of reliable, carbon-free energy. With two pressurized water reactors producing about 1,100 megawatts, Prairie Island generates enough electricity to power 1.5 million homes across the Upper Midwest. Unlike sources that depend on weather, nuclear energy delivers 24/7 reliability—providing the power we need today while protecting the environment for tomorrow.” LEARN MORE: https://fluence-media.co/4oCHdK9 (SPONSORED: Xcel Energy)
LAW ENFORCEMENT
ICE: Via Minnesota Reformer, VERBATIM: “On the morning of Nov. 12, three unmarked white vans pulled into a back entrance to the airport. They drove across the tarmac, where a plane operated by Key Lime Air was waiting. The vans pulled into a semicircle surrounding the stairs leading to the plane door. Then agents patted down around 20 immigrants before they climbed one-by-one — slowly, shackled — up the steps and into the plane. A spokesperson for the Metropolitan Airports Commission, which oversees MSP, said federal law prevents MSP from restricting access to public or private aircraft operators.” READ: https://fluence-media.co/4ibUnLS
DRONES: Via CCX Media, VERBATIM: “Brooklyn Park police will soon be deploying $4.6 million in drone technology that will give first responders additional eye-in-the-sky capacity at crime scenes and other emergencies. The new system, which will be purchased from Axon Enterprise, Inc., will give police the ability to deploy up to 12 drones from 10 docking stations in support of emergency response.” READ: https://fluence-media.co/4i6AR3v
HOUSING
RACIAL COVENANTS: MPR reports the University of Minnesota’s Mapping Prejudice Project identified 356 properties in Sherburne County with language in their deeds restricting which races of people could own them. VERBATIM: “What’s notable about Sherburne County’s racial covenants is how late they were drafted, [project associate director Michael Corey] said. More than 90 percent of the racial covenants researchers found in Sherburne County were added after 1948, the year the U.S. Supreme Court ruled they were unenforceable. ‘Our interpretation is that people do want to send a message that people might not necessarily be welcome in these spaces,’ he said.” READ: https://fluence-media.co/47PNL2k
BROOKLYN PARK: Via CCX Media, VERBATIM: “A developer with ties to Brooklyn Park is proposing an affordable housing project in the city with at least 160 units, according to Brooklyn Park Economic Development Authority (EDA) documents. The proposal by JO Cos. would build apartments on land owned by the EDA at 7621 and 7601 Brooklyn Boulevard in the Village Creek neighborhood. Both parcels, which total 3.8 acres, are on either side of Welcome Avenue and have remained vacant for years as the city sought appropriate development opportunities.” READ: https://fluence-media.co/4qZElIW
BUSINESS EXCELLENCE: Flint Hills Resources was just awarded the 2025 Large Business of the Year award from the Dakota County Regional Chamber of Commerce at their annual Business Excellence Awards celebration. The award celebrates the outstanding achievements of businesses that exemplify the thriving and growing spirit of Dakota County. The businesses honored make an impact and contribute to the continued success of our community. LEARN MORE: About the Pine Bend refinery. (SPONSORED: Flint Hills Resources Pine Bend refinery)
RETAIL
THC: Via Forum, VERBATIM: “The bill to end the federal government shutdown, passed by Congress and signed into law by President Donald Trump last week, included a provision that will ban most intoxicating hemp-derived products. The ban will go into effect one year after the bill was signed, but Moorhead businesses are starting to brace for the legal status of their products to change. At Junkyard Brewing Company, owner Aaron Juhnke is sounding the alarm about how the federal ban could affect businesses that make and sell hemp-derived THC products, which have been federally legal. His business, which primarily brews beer, started manufacturing and selling hemp-derived THC beverages and edibles around three years ago.” READ: https://fluence-media.co/48swTOj
COFFEE: Via MplsStPaul, VERBATIM: “While some people wouldn’t think to bring together coffee and skateboarding, Thesis Coffee Collective co-founders Chris Raaymakers and Spencer Kimball felt like it would be remiss not to bridge what they saw as a clear ‘missing link.’ Kimball, who has been skateboarding for his entire life, says that he always wanted to open his own skate shop, but anticipated that it wouldn’t be a particularly fruitful business venture. He found a way to tap into his passion, however, when he partnered with Raaymakers, a seasoned coffee shop owner, to found their current brand back in 2023, connecting those two lifestyles, along with snowboarding. Now, they’re spreading that unique culture with their Hennepin Avenue coffee shop.” READ: https://fluence-media.co/4r9MiLF
FRESH15: The latest season of Fresh15 includes interviews with new Minnesota House members. So far, five new members have shared their goals, background and fun facts before they take office in a historic session this January.
Rep. Kari Rehrauer
Rep. Wayne Johnson
Rep. Julie Greene
Rep. Keith Allen
Rep. Peter Johnson
Follow on your favorite podcast platform, or at www.TheDailyAgenda.com/Podcasts. (SPONSORED: Minnesota Telecom Alliance)
MORE NEWS…
OTSEGO: Via news release from Couche-Tard, VERBATIM: “Alimentation Couche-Tard Inc., a global leader in convenience and mobility, today celebrated the grand opening of its state-of-the-art distribution center (DC) in Otsego, Minnesota. This facility is the first of three new DCs scheduled to open in the coming months, marking a significant step in the company’s ongoing efforts to strengthen its supply chain and optimize merchandise delivery. The Otsego DC will support nearly 500 Holiday Station stores and Circle K locations throughout the Twin Cities and the Upper Midwest.” READ: https://fluence-media.co/486BJAr
MPLS: via Star Tribune’s Deena Winter, VERBATIM: “Minneapolis Council Member Jamal Osman says he is supporting Elliott Payne for council president and Osman will be running for vice president, and that Payne supports him. … Looks like Payne and Osman could be president and VP.” TWEET: https://fluence-media.co/3K7eMFg
BEMIDJI: Via Lakeland PBS, VERBATIM: “The Boys & Girls Club of the Bemidji Area showed off the new additions and upgrades to their facility during an open house held Tuesday night. Along with a $17,000 donation from 100+ Women Who Care Bemidji, the club received state grants, private and public funding, and other donations to pay for major renovations to the building’s 6th-12th grade wing. Construction crews broke ground on the project in January, and in the span of less than a year, the space has been completely transformed.” WATCH: https://fluence-media.co/48ammqM
AOR: Via news release from Minneapolis-based Betty, VERBATIM: “Betty, a Quad agency, today announced it has been named the creative agency for Gorilla Glue, a leader in tough adhesives. Gorilla Glue joins the growing roster of brands turning to Betty for strategic, imaginative creative that drives business growth. In this new partnership, Betty will work with Gorilla Glue to develop campaigns that build on the brand’s heritage while helping usher it into its next chapter.” READ: https://fluence-media.co/4pmHYHj
WHAT’S NEXT?
NEXT MONTH: Via news release from General Mills, VERBATIM: “General Mills, Inc. (NYSE: GIS) plans to report results for its fiscal 2026 second quarter on Dec. 17, 2025.” READ: https://fluence-media.co/3KdpoCx
FORUM: If you’re interested in having the Fluence Forum host a topic, please contact Blois Olson at bloisolson@gmail.com
AIRPORT: Via Eater, VERBATIM: “Airports aren’t known for haute cuisine, but with a strong showing of homegrown favorites — plus some well-loved chains — travelers headed through the Minneapolis-St. Paul International Airport during the holiday season can a pretty decent taste of the Twin Cities.” LIST: https://fluence-media.co/4pjc6TY
BDAYS: MN Gov candidate Scott Jensen, Lakeville Mayor Luke Hellier, CNN’s Randi Kaye, Shoreview Councilor Paul Gardner, fmr. Rep. Alan Juhnke, comms pro Sophie Wallerstedt
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