Business

Data-breach costs take toll on Target profit

By Anne D'innocenzio
Published February 26, 2014 2:23pm ET
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Data-breach costs take toll on Target profit
FILE - In this Dec. 19, 2013, file photo, a passer-by walks near an entrance to a Target retail store in Watertown, Mass. Target Corp. reports quarterly financial results before the market opens on Wednesday, Feb. 26, 2014. (AP Photo/Steven Senne, File) | Steven Senne

NEW YORK (AP) — Target Corp. will be feeling the financial pain for a while from the theft of credit card numbers and other information from millions of its customers.

The retailer said Wednesday that its fourth-quarter profit slumped 46 percent. It also reported that revenue slipped 5.3 percent as the breach scared off customers.

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