Target's Data Breach Costs the Company $148 Million

Target announced today that its second quarter earnings will include a $148 million charge related to losses stemming from a data breach that occurred during last year's holiday shopping season. It also warned that its profit for that period would be softer than expected.

During the fourth quarter of 2013, Target experienced a data breach in which an intruder gained unauthorized access to its network and stole payment card and other guest information. More than 110 million consumers were affected.