Target Corporation announced Wednesday that the company would be eliminating about 475 positions. The news comes after more than a month’s worth of bad press over a data breach.
As consumers continue to absorb the news that the Target data breach affected far more people than the chain originally announced, the company is offering a year of free credit monitoring to customers. Target initially said 40 million credit card accounts were compromised, but now says the figure is closer to 110 million. Target’s stock was down again Monday, and the retailer announced last week that fourth quarter sales, which included the big holiday shopping season, were down two percent.
Luxury merchant Neiman Marcus confirmed Saturday that thieves stole some of its customers’ payment card information and made unauthorized charges over the holiday season, becoming the second retailer in recent weeks to announce it had fallen victim to a cyber-security attack. The hacking, coming weeks after Target Corp. revealed its own breach, underscores the increasing challenges that merchants have in thwarting security breaches. Ginger Reeder, spokeswoman for Dallas-based Neiman Marcus Group Ltd., said in an email Saturday that the retailer had been notified in mid-December by its credit card processor about potentially unauthorized payment activity following customer purchases at stores.
Sen. Robert Menendez wants the federal government to hold companies accountable when their customers’ financial information is stolen.
Some of Target’s employees won’t spend the Christmas holiday at home. The company says corporate staff will continue to help people whose data was breached.
The Secret Service says it is investigating a credit- and debit-card data theft at Target stores. Secret Service spokesman Brian Leary confirms the agency is investigating, but declined to provide further details.
Three former Hispanic employees are suing Target Corp. for discrimination and retaliation, citing a training document reminding managers that not all Hispanics eat tacos and burritos, dance to salsa or wear sombreros.
Douglas Dayton, who led the transformation of a family department store into retailing giant Target Corp., has died at the age of 88. Dayton’s wife, Wendy Dayton, confirmed his death Sunday. She said the resident of Wayzata, west of Minneapolis, died Friday after a long battle with cancer. Douglas James Dayton was the youngest of George Nelson Dayton’s five sons who took over the family’s downtown Minneapolis department store from their father in 1948. Douglas Dayton started working in the family business after serving in an Army infantry division in Europe during World War II, where he was injured and received a Purple Heart.
Is Target’s grocery aisle ready for its close up?
Target Corp. has a new building for employees. Target Plaza Commons is a center to help create dynamic and flexible meeting spaces, and provide wellness activities for Target workers.
Discount retailer Target Corp. says a key revenue measure rose 2.1 percent in June as shoppers spent more on food and health and beauty items.
Target Corp. raised its profit outlook Wednesday after reporting better-than-expected first-quarter results that were boosted by increased spending on food and cheap chic fashions.
Target Corp. reported a 1.2 percent increase in first-quarter profit and raised its earnings forecast for the full year due to strong sales of its food and cheap chic fashions.
Target Corp. is phasing out Amazon.com Inc.’s e-reader Kindle at its more than 1,700 stores and its website.
Target Corp. said Thursday a key sales figure rose a better-than-expected 7.3 percent in March, helped by warm weather. The discounter, with headquarters in Minneapolis, boosted its first-quarter earnings outlook based on solid results.