Aug 5, 2014

arget has lowered its second-quarter forecast citing the promotional discounts it had to use to attract shoppers.

The Minneapolis-based retailer also said Tuesday it expects gross expenses tied to a massive data breach this past winter to come to $148 million in the period, which will be offset by $38 million in insurance. It also paid $1 billion to retire $725 million in debt.

http://www.canadianbusiness.com/business-news/target-lowers-forecast-citing-costs-of-data-breach-us-sales-expected-to-be-flat/