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Target is reporting a 16 percent drop in first-quarter earnings as a massive customer data breach and troubled expansion plans in Canada continue to batter the retailer. The news comes a day after the retailer fired the president of its troubled Canadian operation and two weeks after the abrupt departure of its CEO. Target says it earned $418 million, or 66 cents per share, in the quarter ended May 3. Revenue rose 2.1 percent to $17.1 billion.
|Target 1Q Profit Falls 16 Pct As Breach Takes Toll|
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