A year of poor performance has fueled a chorus of criticism of Target's management team.

What they're saying: "Shoppers are falling out of love with Target," the Wall Street Journal wrote yesterday about the Minneapolis-based retailer's problems.

• Also yesterday, Daiwa Capital joined several analysts in downgrading Target's stock, which fell by 21% last week.

Why it matters: An earnings miss as big as the one Target suffered last week could lead to a shakeup, with industry speculation about the future of CEO Brian Cornell, potential activist investors or even an acquisition of the company by private equity.

Catch up quick: Target shoppers voiced their frustrations to the Wall Street Journal: out-of-stock shelves, long checkout lines, products locked up in certain stores, lower prices at competitors and even lingering unhappiness over the company's Pride month collection in 2023.

• There's evidence that it's losing market share to Walmart.

The other side: Target told the newspaper that sales are up about 36% since 2019 and noted customers have given the company higher marks in internal surveys.

The intrigue: "Target's beginning to look like a juicy (leveraged buyout) target, or at a minimum, they're going to have an activist (investor) in there," New York University marketing professor Scott Galloway predicted on his podcast.

Reality check: With an enterprise value of $72 billion, a leveraged buyout of Target would likely be the largest in history, a fact that Galloway acknowledged.

• Plus, private equity also shown a growing aversion to retail, particularly big-box stores like Target.

Plus: Galloway said Cornell, Target's CEO of 10 years, has been "mediocre" running the company, noting he would be shocked if Cornell was not fired soon.

• Target's board in September 2022 eliminated its mandatory retirement policy (age 65) to allow Cornell, then 63, to stay longer.

Target declined to comment on the buyout speculation.

The bottom line: This isn't the first prediction of a Target acquisition. Gene Munster, the high-profile analyst based in Minneapolis, speculated in 2017 that Amazon would buy the retailer.

• It never happened (not yet, at least).

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Thousands of people are expected at Minnesota's Hmong New Year celebration in downtown St. Paul this Saturday and Sunday.

• The event at RiverCentre features vendors selling Hmong delicacies — including sausages, pork belly and egg rolls — as well as singing and dancing competitions.
• Tickets are $12.

The big picture: The Twin Cities is home to the largest Hmong population of any other U.S metro area.

⚖️ Minnesota House Republicans say they'll file an election contest lawsuit over an absentee ballot discrepancy in a Shakopee-based House seat they narrowly lost. (Background via Axios)

• The outcome — or a victory in a separate residency challenge in a Roseville district — could impact control of the tied House.

💰 Best Buy CEO Corie Barry warned that President-elect Trump's proposed tariffs on China, Canada and Mexico would be passed on to consumers. (Yahoo Finance)

• The Richfield-based retailer gets 60% of its products from China, while Mexico is its second-largest supplier.

🗳️ Minneapolis City Council member Jeremiah Ellison won't seek re-election next year. (Announcement on X)

• His departure would leave the 13-seat council with, at most, three members elected prior to 2021.

🍣 The group behind Sushi Train plans to open an Asian buffet called Feast in the Woodbury Cowboy Jack's building next spring. (Minneapolis/St. Paul Business Journal)

📚 The Anoka-Hennepin School board voted to cut hundreds of central office jobs in light of a $26 million shortfall. (KARE 11)

Your cups runneth over.

The big picture: We asked you all to share what you're grateful for this Thanksgiving.

• Here are some of the many heartfelt answers we received:

🎸 Brian W. is grateful for concert livestreams, which have allowed him to "catch my favorite bands while keeping money in the bank" ahead of his wedding to his amazing fiancé."

👦 Nick M. is thankful for the opportunity to mentor — a tribute to his late mother's work with underprivileged kids — and for his own young children.

• Watching them learn the joy of giving through offering to part with their own toys is a "reminder that life, although busy, slows down to what matters most around the holidays: helping others who need it," he wrote.

🩺 Tammy N. expressed gratitude for her "North Memorial Health oncology team for their extraordinary care through my 9-month long battle with triple negative breast cancer" and the friends and family "who supported me every step of the way."

• "Happy to say I am 100% cancer free today!"

🐶 Annamarie A. told us about her rescue pup, Grizzy: "He's been a challenge at times, but... his goofy personality, sweet cuddles, and endless love bring my husband and me so much joy."

🫶 Jenn. M is "very thankful" that her chosen family is "there for me no matter what."

• "They have helped me deal with the loss of my dad [and] celebrated with me when I got married this summer... I know I would be lost without them."

🌪️ Mark D. shared that a tornado caused serious damage to his family's Northern Minnesota cabin in June. The loss left him grateful for the "way our family pulled together to piece back the special place that we hold so deeply in our collective hearts."

❤️ And a good one for all of us to meditate on from 84-year-old Kate S.:

• "I'm thankful to wake up each morning."

🎉 Unique events in Twin Cities.

TayTay Holiday Dance Party Featuring DJ Swiftie at Granada Theater on Dec 15: Put the holiday rush on pause and enjoy. Get ready to dance the night away with the hottest tracks from Taylor Swift and other pop favorites. $12.50.

Hosting an event? Email [email protected].

"After today this bird will go back to my farm to be enjoyed the way turkeys are intended."

🍽️ For those wondering, yes, that means the 42-pounder will be eaten by VonBerge and her family tomorrow.

Go Deeper: Why doesn't Minnesota's governor pardon the ceremonial turkey?