Home Depot has confirmed that its payment systems were hacked at its U.S. and Canada stores starting in April. Customers who paid with cards may have had their data compromised. The company says there's no evidence that pin numbers from debit cards were stolen. On Sept. 2, Home Depot said it was working with banks and law enforcement to investigate reports that its stores could have been the source of a new batch of credit and debit card numbers being sold on the black market.
This morning Twitter introduced its Buy Now button, a feature that enables users to make purchases directly on the social network as well as its mobile app. Twitter is the latest social network to integrate commerce into its offering, with previous efforts seeing varying degrees of success.
Home Depot has been hit with a class-action lawsuit stemming from a suspected data breach at the home improvement retailer. While one legal expert portrays the lawsuit as premature because the investigation is still under way, another says the filing was made because it's highly likely the breach will be confirmed. The lawsuit, filed Sept. 4 in the U.S. District Court for the Northern District of Georgia, alleges that the retailer failed to meet its legal obligation to protect customers’ credit card and personal information. It also accuses Home Depot of not notifying its customers about the alleged breach.
While retailers are diving headfirst into mobile payments, consumers appear to be a bit more hesitant. Usage of digital wallets remains at less than one-third, even though a surprisingly high number of U.S. consumers — 80 percent — recognize the technology as an alternative to cash-based transactions, according to a survey of more than 2,000 smartphone, tablet and desktop users from local search and digital marketing research firm Thrive Analytics.
Home Depot U.S. Retail President Craig Menear will succeed Frank Blake as chief executive officer in about two months, giving the chain a new leader as it navigates a slowing housing rebound. The move will be effective Nov. 1, the Atlanta-based company said yesterday. Blake, 65, has been CEO since 2007 and will remain chairman. Menear, who's been with the chain since 1997, will join him on the board immediately. Home Depot, the largest home-improvement chain, has boosted profit for five straight years as the recovering U.S. housing market encouraged homeowners to spend more on renovations.
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.
On July 14, Home Depot and MakerBot, global leader in 3D printing industry, announced a partnership, introducing innovative, high-quality 3D printers to the DYI retail environment. Home Depot is supplying 12 stores in California, Illinois, and New York with
Nearly 2,000 Home Depot stores in the U.S. began offering a wide range of connected home devices that run on the Wink platform on July 7. The Wink platform unites close to 60 devices, creating the broadest set of connected home products in one ecosystem, with 15 leading manufacturers of home products ranging from light bulbs and locks to window shades, irrigation systems and water heaters, according to Wink and Home Depot.
The connected home space is getting crowded with Staples Connect, the newest platform looking to simplify peoples’ lives by putting them in constant contact with their home or business. Staples plans to roll out its Staples Connect home automation platform to 500 stores and will offer lower prices on the Connect Hub and feature new wearable products and support from some big technology names. Staples Connect was introduced in the fall of 2013 in select stores and online as a home and office automation platform, competing with Google's Nest, Lowe's Iris system and Home Depot's new Wink platform.