Target reported financial results for the quarter during which it suffered a high-profile data breach, revealing how badly the company was stung by the security lapses. In the three months ending Feb. 1, net earnings dropped by 46 percent compared with the year-ago fourth quarter, from $961 million to $520 million. Profit dropped by more than 40 percent from the same period a year earlier, while earnings per share were 81 cents, down from $1.47 last year.
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Target Reels From Customer Data Breach
Posted by: Kris Holt February 26, 2014 11:55 AMTarget reported financial results for the quarter during which it suffered a high-profile data breach, revealing how badly the company was stung by the security lapses. In the three months ending Feb. 1, net earnings dropped by 46 percent compared with the year-ago fourth quarter, from $961 million to $520 million. Profit dropped by more than 40 percent from the same period a year earlier, while earnings per share were 81 cents, down from $1.47 last year.