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MarketScreener Homepage  >  Equities  >  Nyse  >  Target Corporation    TGT

TARGET CORPORATION

(TGT)
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Target Stores Hit by Technical Snafus -- 2d Update

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06/16/2019 | 09:40pm EDT

By Khadeeja Safdar

Technical problems at Target Corp. stores this weekend frustrated shoppers, who were unable to make purchases for two hours on Saturday or use a credit card at some stores on Sunday.

Target said the two incidents were unrelated, and neither was caused by a cyberattack. However, both resulted in customer complaints.

On Saturday, Target's checkout systems suffered a nationwide outage, which the retailer said was caused by a problem during routine maintenance of its computer systems. Employees identified and fixed the problem after roughly two hours.

"After an initial but thorough review, we can confirm that this was not a data breach or security-related issue, and no guest information was compromised at any time," a Target spokesman said on Saturday.

On Sunday, Target said customers were unable to process certain card payments at some stores for about 90 minutes because NCR Corp., a vendor it uses to help accept payments, experienced an issue at one of its data centers. A spokesman for NCR didn't respond to a request for comment.

"We can confirm that this was not a security-related issue and no payment information was compromised," a Target spokeswoman said on Sunday.

Many shoppers took to Twitter to complain of long lines and confusion at stores. They used the hashtag #TargetDown and pointed out the poor timing, on Father's Day weekend.

The technical problems are a setback for Target, which has been investing heavily to remodel its stores and improve its technology as it battles Walmart Inc., Amazon.com Inc. and others for customers. In recent quarters, it has reported strong sales growth boosted by U.S. consumer spending.

In 2013, Target suffered a data breach, which affected as many as 70 million people and led to an $18.5 million settlement to resolve an investigation by state prosecutors.

Write to Khadeeja Safdar at khadeeja.safdar@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
NCR CORPORATION -1.81% 29.89 Delayed Quote.31.41%
ONE STOP SYSTEMS INC -5.38% 1.76 Delayed Quote.-4.12%
TARGET CORPORATION -0.51% 87.86 Delayed Quote.33.62%
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Financials (USD)
Sales 2020 78 089 M
EBIT 2020 4 411 M
Net income 2020 3 041 M
Debt 2020 10 678 M
Yield 2020 2,98%
P/E ratio 2020 14,9x
P/E ratio 2021 14,0x
EV / Sales2020 0,71x
EV / Sales2021 0,70x
Capitalization 45 014 M
Chart TARGET CORPORATION
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Technical analysis trends TARGET CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 89,23  $
Last Close Price 87,86  $
Spread / Highest target 25,2%
Spread / Average Target 1,56%
Spread / Lowest Target -14,6%
EPS Revisions
Managers
NameTitle
Brian C. Cornell Chairman & Chief Executive Officer
John J. Mulligan Chief Operating Officer & Executive Vice President
Catherine R. Smith Chief Financial Officer & Executive Vice President
Michael E. McNamara Chief Information Officer & Executive VP
Rich Agostino Chief Information Security Officer & Senior VP
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