Target headaches: Data breach widens, guidance slashed


Target (TGT) discloses that "certain guest information" was taken during its security breach month that is separate from previously disclosed payment card information. Personal customer information including e-mail addresses, phone numbers, and street addresses for some accounts are part of the data that hackers accessed.

CEO Greg Steinhafel says guests will have "zero" liability for any fraud charges, but the issue is bound to cause some anxiety for cardholders.

The company also lowered its estimate for Q4 EPS to $1.20-$1.30 from previous guidance of $1.50-$1.60 on a revised forecast for comp sales of -2.5%. News of the data breach had a noticeable impact on store traffic and sales, according to Target.

In addition, Target says it has identified 8 stores it plans to close due to weak financial performance. (PR)

TGT -1.8% premarket

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Comments (7)
  • Fear & Greed Trader
    , contributor
    Comments (9731) | Send Message
     
    An opportunity to add a div. aristocrat to your holdings

     

    http://seekingalpha.co...
    10 Jan 2014, 09:12 AM Reply Like
  • chopchop0
    , contributor
    Comments (5063) | Send Message
     
    Stick with best in class. Stick with WMT
    10 Jan 2014, 09:34 AM Reply Like
  • tomlos
    , contributor
    Comments (1296) | Send Message
     
    Target has been a heartbreaker for me.. sitting around where I bought it almost a year ago. I'm long long term, but wondering if my cash is better served somewhere else. In the long run, will these blips matter.. probably not.
    10 Jan 2014, 10:10 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (9731) | Send Message
     
    The good companies figure it out..
    Remember the Carnival cruise line disaster ? (CCL) is now at a 52 week high ..

     

    Great time to take advantage of the "fear" of others ...
    10 Jan 2014, 10:24 AM Reply Like
  • omarbradley
    , contributor
    Comments (966) | Send Message
     
    I agree...this is probably the best retailer in the world...far better than Wal Mart...and "what happened to Sears?"! I agree absolutely...if you have some risk capital lying around..."Target is the Target" indeed. I'm still bearish on the market so I would not pull the trigger on any trade here...but maybe come springtime once the economic picture...which became very cloudy today...clears up...this might be "one of those great trades" you thank yourself for (since no one else ever does.)
    10 Jan 2014, 01:09 PM Reply Like
  • AnAvgJoe
    , contributor
    Comments (523) | Send Message
     
    I agree with F&G, but I've been watching TGT and wanting to initiate a position at $60. Guess I could start at 62... still mulling that.
    10 Jan 2014, 10:52 AM Reply Like
  • alice712
    , contributor
    Comment (1) | Send Message
     
    the law suites that will plague TARGET because of this breach are not going to help our economy and further more if you have a plastic card for any reason you are playing russian roulette with all your info anyway. your bank cards,gas cards,retailer cards,grocery store cards i can go on and on. so why take it out on a company that you chose to give your personal info too. also the government can get hacked just as any retailer and they have it all so move forward and do not let hackers get away with hurting our economy anymore then it is already. i am sure there is more to come down the line so if you do not want info taken use cash. also your info in already in cyber world what are you going to do be born again and start over. REALLY
    23 Jan 2014, 09:16 AM Reply Like
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