Target profit drops by 46 percent
February 27 , 2014
Target's data breach didn't only affect the company's PR but also caused it some financial troubles.
The company blamed the hack for knocking its Q4 profits to 46 percent and said the incident scared off customers.
"We will continue to work tirelessly to win back the confidence of our guests," the company CEO said. "We are encouraged that sales trends have improved in recent weeks." However, it's profit outlook was less than what Wall Street had expected.