The data breach at Target Corp. that exposed millions of credit card numbers has focused attention on the patchwork of state consumer notification laws and renewed a push for a single national standard.
The departure of Target’s chief information officer in the wake of the company’s massive pre-Christmas data breach highlights the increased pressure facing executives who are charged with protecting corporate computer systems from hackers whose attacks are on the rise and becoming more sophisticated. Years ago, the job of a CIO focused mainly on the upkeep of computer systems. In their largely behind-the-scenes rolls, most of their major decisions centered on the kinds of technological innovations a company would adopt, when and how much to pay for systems upgrades and the creation and maintenance of company websites.
Target Corp. Chief Information Officer Beth Jacob is resigning effective Wednesday as the retailer overhauls its information security and compliance division in the wake of a massive pre-Christmas data breach.
The massive Target data breach is having a large impact on not just the company’s customers, but is also costing Minnesota’s credit unions hundreds of thousands of dollars. The Minnesota Credit Union Network says $750,000 has been lost.
A western Pennsylvania credit union is suing Target Corp. for the cost of reissuing debit cards to about 75 customers whose account information was compromised by computer hackers who stole 40 million credit and debit card numbers from the retailer’s customers.
Minneapolis Police have refuted reports that smartphones had been taken from at least six IT professionals over the past two days. Earlier on Thursday, it was reported that a source told CBS News that smartphones had been stolen from workers at the downtown headquarters in Minneapolis.
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.
Target is pulling a greeting card that makes fun of the late singer Whitney Houston’s penchant for bad boys.
Target Corp. reported a 5.2 percent drop in earnings for the fourth quarter, as big discounts to get tight-fisted shoppers to buy during the holiday season eroded profits.
Target is promoting John Mulligan to chief financial officer. The move is effective April 1.
Target Corp. says it is temporarily suspending its efforts to sell the portfolio that handles the balances credit cardholders owe the company, but plans to resume the talks later this year.