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Target Warns Cost Of Data Breach Could Hurts Profit In Future

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February 26, 2014 AT 4:14 AM
Target Corporation's net profit was almost cut in half in the holiday quarter as the third-largest U.S. retailer dealt with the fallout of a massive data breach and warned that costs related to the event could hurt future profits. Wednesday marks the first time Target faces Wall Street since the breach, which led to the theft of about 40 million credit and debit card records and 70 million other records with information such as addresses and phone numbers of shoppers compromised.