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Target, still recovering from data hack, cuts profit forecast
Target, still recovering from data hack, cuts profit forecast

Target Corp. reduced its annual profit outlook Wednesday while reporting second-quarter earnings that plunged from a year earlier. The earnings report showed the Minneapolis, Minn.-based company is still struggling to recover from a massive data breach last year. Target said the data breach cost it $148 million in the second quarter.  Target reported a second-quarter profit of $234 million, or 37 cents per share, down from $611 million, or 95 cents, a year earlier. Revenue rose 1.7% to $17.4 billion. On top of the data breach costs — which Target said were partially offset by $38 million in insurance — the retailer wrestled with weak U.S. sales.  Sales at...

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