In the competitive world of low-cost retailers, Target has led the pack. The leak of millions of customers’ personal data with implications of identity theft and fraud called into question their status as one of the top-retailers and has had their executives reeling.
Ongoing efforts to bolster cyber security at Target will take place under the leadership of an interim chief information officer and several other key positions the company is looking to fill with external candidates.
Target plans to carry on its Canadian expansion this year with nine additional stores, the majority of which will open in Ontario, although the retailer plans to open single stores in Quebec, Manitoba, Alberta and B.C.
Hudson's Bay Company has appointed Douglas Scovanner as EVP of finance and accounting, on an interim basis. Scovanner will support acting CFO with the day-to-day stewardship of the company’s financial planning, asset protection and accounting functions.
Target’s data security breach has already cost all credit unions between $25 million to $30 million. Those numbers are expected to climb in coming weeks as more of the cooperative financial institutions report their costs and as fraud losses are incurred down the road, according to preliminary results of a survey of credit unions by the Credit Union National Association (CUNA).
Adconion Direct, a leading global cross-channel digital advertising company, has named Nathan Jokinen as VP of strategic development. Jokinen spent nearly a decade in business development and digital strategy at Target.
Target is the latest major retailer to announce it will stop offering health insurance to its part-time employees. In a company blog post on Jan. 21, Target said it will no longer provide health insurance coverage to part time workers after April 1.
In November of last year, Target opened a popup store featuring an exclusive collection of bath and body products by Sonia Kashuk in New York’s Grand Central Terminal. Now the retailer is preparing to launch an exclusive line of Sonia Kashuk makeup, beauty tools and cosmetic bags in March.
The nightmare continued for Target on Friday as worse than expected fourth quarter same store sales prompted the company to slash its profit forecast while it made troubling new disclosures about the theft of information involving 70 million customers.
While the vulnerabilities of Target's data systems were exposed during a recent data breach the company’s data centers were being hailed as a model of energy efficiency by the U.S. Environmental Protection Agency’s Energy Star program.
The phrase “massive data breach” is the last thing any retailer wants to see their name associated with, but when bad things happen to good retailers Target's response to the situation is a blueprint for other retailers.
Target early Thursday confirmed widespread media reports that it suffered a major data breach that affected as many as 40 million credit and debit card transactions during a period that began the day before Thanksgiving through December 15.