Target cuts Q2 profit guidance

Target (NYSE:TGT) cuts its estimate for Q2 EPS to $0.78 vs. prior guidance of $0.85-$1.00 and $0.91 consensus.

Data-breach costs of $148M will be partially offset by $38M in insurance payments covering the incident.

The retailer reports full results on August 20.

TGT -4.2% premarket

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Comments (1)
  • Dantes_Will
    , contributor
    Comments (410) | Send Message
    "Data-breach costs of $148M will be partially offset by $38M in insurance payments covering the incident."


    Looks to me like that data breach fiasco is costing Target a hellova lot more than 148M.


    Companies need to wake up and start actually protecting their data and networks with security that works. Symantech, McAfee are basically selling snake oil to corporations. My old fortune 500 company used both, and viruses were so common that we didn't even take them seriously.


    Americans scare easily. An incident like Target's can damage a brand to the tune of Billions in revenue over years. American corporations are quickly waking up to the fact that old security models just doesn't work. They need next-gen 'cloud' security like FEYE and PANW.
    5 Aug 2014, 11:17 AM Reply Like
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