Target Could Face $1.1 Billion in Fines for Data Breach
The bad news keeps coming for Target. Jefferies analyst Daniel Binder said on Thursday that the retailer could face between $400 million and $1.1 billion in fines from the data breach that impacted up to 110 million shoppers, which "could be significant and higher than we first thought." That estimate doesn't incorporate lost sales or customer goodwill from the breach. It also doesn't account for potential negative side effects from signing up fewer loyalty card members or lower usage from existing cardholders.