Backoff malware has affected more than 1,000 U.S. businesses, infecting POS systems from Target to Supervalu. The United States Secret Service and Department of Homeland Security has issued a warning that the Backoff POS malware may have infected more systems than previously believed.
At Target, innovation means acting like a start-up, taking risks and moving fast. At least that's the plan going forward according to Alan Wizemann.
Target reported a 62 percent drop in profits for the second quarter as a result of price cutting.
At Target, innovation means acting like a start-up, taking risks and moving fast. Alan Wizemann, VP of product for the retailer's website and mobile operations, is fast-tracking innovation as the retailer attempts to establish a stronger online presence, grow e-commerce and expand mobile applications.
Walmart narrowly remained the leader over Target in lower basket totals by 1 percent.
JCPenney has been busy getting smaller, shutting down 33 underperforming stores across the country. However, it's now investing in one new store in Brooklyn, New York, with the hopes of boosting its turnaround efforts. The store opens Aug. 29 and will mark the retailer's first location in the borough, its final frontier in New York to augment the existing JCPenney stores in Manhattan, The Bronx, Queens and Staten Island.
As if retailers needed any reminders that their businesses are vulnerable to security breaches, experts at a recent conference warned that Target and P.F. Chang's are just the tip of the iceberg when it comes to credit card fraud.
Target has opened an outpost in Silicon Valley as the retailer continues to seek out technology talent and build digital commerce capabilities.
When Target announced that Brian Cornell would be its new chairman and CEO, my first response was less than enthusiastic. Cornell, with his CPG experience and brief stints at Michaels and Sam's Club before that, seemed an uninspired choice.
Target announced that its second quarter results include a gross expense of $148 million related to the December 2013 data breach. Simultaneously, the retailer was reported to have opened a technology hub in Silicon Valley.