US: Target lowers Q4 guidance amid data breach
Target is due to report its earnings on 26 February
Target Corp has warned of larger losses than expected in its fourth-quarter as it revealed a data breach in December may now have affected 70m customers.
In a trading update, the US retailer lowered its overall fourth-quarter adjusted earnings guidance to a range of US$1.20 to $1.30 per share, down from previous guidance of $1.50 to $1.60 per share.
The outlook, Target said, anticipates a fourth-quarter comparable sales decline of around 2.5%. It had previously forecast flat comparable sales.
The retailer, which is due to report its earnings on 26 February, added that it will close around eight underperforming stores on 3 May.
The group also revealed its pre-Christmas security breach was more extensive and has affected millions more shoppers than reported last month.
The breach, which saw hackers steal the personal information of its shoppers, including names, phone numbers and mailing addresses, may now have affected around 70m customers, it said. Target had originally disclosed that around 40m had been affected.
Abstract About Children’s and Infant Wear Children's wear refers to clothing for children aged between 0 months to 10 years. It includes apparel such as outerwear, underwear, nightwear, socks and t...
This report analyzes the worldwide markets for Children's Wear in US$ Million by the following Product Segments: Boys Wear, Girls Wear, and Infants & Toddlers Wear. The report provides separate compre...
- Why should brands care about China cotton?
- New Gap CEO set to tackle “aesthetic issue”
- Low labour cost countries linked to highest risks
- Falling euro adds to Bangladesh production woes
- China cotton: implications and opportunities
- M&S Asia head quits as China stores to close
- Gap names new design head amid mixed Q4
- Pay rise mulled for Sri Lanka garment workers
- US labour concerns at Honduras apparel makers
- JC Penney share price falls on Q4 loss
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Outdoor performance apparel: peaks, valleys, and green fields
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Global market review of swimwear - forecasts to 2019