Data-breach costs take toll on Target profit - KTTC Rochester, Austin, Mason City News, Weather and Sports

Data-breach costs take toll on Target profit

Posted:

By ANNE D'INNOCENZIO

AP Retail Writer

NEW YORK (AP) -- Target Corp says the massive data breach over the holidays helped push its profit down 46 percent.

The discount retailer said Wednesday that sales fell 5.3 percent as the breach scared off customers.

Target says it earned $520 million, or 81 cents per share, for the three months that ended Feb. 1. That compares with a profit of $961 million, or $1.47 per share, a year earlier.

Revenue fell to $21.5 billion from $22.7 billion.

Revenue at stores open at least a year fell 2.5 percent.

Analysts had expected a profit of 80 cents on revenue of $21.5 billion, according to FactSet.

The company also offered a profit outlook for the current quarter that is below Wall Street estimates.

Powered by WorldNow
All content © Copyright 2001 - 2014 WorldNow and KTTC, a Quincy station.
All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Jodi Neyens at (507) 280-5104. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.