Retail activity falls; Target a focus

|About: Target Corporation (TGT)|By:, SA News Editor

The number of transactions at Target (TGT) stores slid 3-4% at the weekend compared with the same pre-Christmas period last year, retail consultancy Customer Growth Partners estimates.

The fall comes after Target disclosed that hackers accessed the information on up to 40M payment cards between Nov. 27 and Dec. 15 by infiltrating swipe machines at checkout counters.

The drop may be part of an overall trend: RetailNext estimates that sales fell by a mid-single-digit percentage at brick-and-mortar stores on Friday and Saturday, although that doesn't include online sales. Store visits tumbled 7%. In response, retailers have been offering heavy discounts in order to lure shoppers.

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