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Feb 26, 2014
Feb 26, 2014
Feb 26, 2014
Feb 26, 2014
Feb 26, 2014
Feb 26, 2014
Feb 26, 2014
Feb 26, 2014

Target shares recover after reassurance on data breach impact

NEW YORK/BOSTON (Reuters) – Target Corp shares made strong gains after it reassured investors that customers were beginning to return to its U.S. stores, suggesting that the impact of a massive data breach may not be as severe as some had feared.

The third-largest U.S. retailer said on Wednesday that customer traffic had started to improve this year after falling significantly at the end of the holidays when news of the cyber attack and theft of payment card data spooked shoppers.

Feb 26, 2014

Target warns data breach could hurt future profit

NEW YORK (Reuters) – Target Corp’s net profit almost halved in the holiday quarter as the third-largest U.S. retailer dealt with the fallout of a massive data breach and warned that costs related to the event could hurt future profits.

Target incurred $61 million (36 million pounds) in expenses related to the breach during the quarter, but those costs were offset by a $44 million insurance payment, bringing down the impact to $17 million. The retailer said it has not been able to estimate future expenses related to the data breach.

Feb 26, 2014

Target warns cost of data breach could hurt profit in future

NEW YORK (Reuters) – Target Corp’s (TGT.N: Quote, Profile, Research, Stock Buzz) net profit almost halved in the holiday quarter as the third-largest U.S. retailer dealt with the fallout of a massive data breach and warned that costs related to the event could hurt future profits.

Target incurred $61 million in expenses related to the breach during the quarter, but those costs were offset by a $44 million insurance payment, bringing down the impact to $17 million. The retailer said it has not been able to estimate future expenses related to the data breach.