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.
Wal-Mart's global e-commerce unit intends to hire hundreds of tech workers in a big expansion of its operations in Sunnyvale, Calif. "We're planning to expand to about 1,000 employees in Sunnyvale," said Bao Nguyen, a spokesman with Wal-Mart global e-commerce, whose operations are headquartered in San Bruno, Calif. At present, the e-commerce unit has about 550 employees in Sunnyvale.