Target's Data Breach Costs the Company $148 Million

In a statement, the company said the expenses it will record in the second quarter are for the “vast majority of actual and potential breach-related claims, including claims by payment card networks.” Those expenses will be somewhat offset by a $38 million insurance receivable, the company said.

But things aren't all bad for the Minneapolis-based retailer. According to the StarTribune, Target quietly unveiled a new technology hub in Sunnyvale, Calif. this week, its second major outpost in the state. In 2012, Target opened its Technology Innovation Center in downtown San Francisco.