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Data-breach costs take toll on Target profit

By The Associated Press

This article was published February 26, 2014 at 11:06 a.m.

NEW YORK — 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.

During the Christmas shopping season, personal data from millions of Target customers was stolen by hackers who targeted credit card terminals in its stores. The incident has scared shoppers away, and the company says its profits will be affected well into 2014.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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