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Target cuts forecast, pegs data breach costs at nearly $150 million
Target cuts forecast, pegs data breach costs at nearly $150 million

Target Corp. lowered its second-quarter earnings forecast Tuesday and said expenses from its massive data breach probably would be close to $150 million. Promotional discounts in U.S. stores and weaker-than-expected sales in Canada led to the lower forecast, Target said. ------------ FOR THE RECORD 12 p.m.: An earlier version of this post said Brian Cornell recently served as an executive at PepsiCom. Cornell worked at PepsiCo. ------------   The Minneapolis-based retailer now expects adjusted earnings per share to be around 78 cents, down from its previous guidance of 85 cents to $1 per share. Target also said it expected expenses stemming from a massive data breach...

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