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Target CEO Brian Cornell reiterates forecast, apologizes to customers for ‘disappointing’ weekend

Target CEO Brian Cornell reiterates forecast, apologizes to customers for 'disappointing' weekend

FINANCIAL NEWS

Target CEO Brian Cornell reiterates forecast, apologizes to customers for ‘disappointing’ weekend


Brian Cornell, CEO of Target

Ashlee Espinal | CNBC

Over the weekend, Target experienced outages affecting its cash registers and credit-card processors, preventing customers from making purchases in two separate interruptions.

On Saturday afternoon, registers at Target stores shut down for roughly two hours due to an unspecified “internal technology issue.” The next day, credit-card payments processing was down at some stores for around 90 minutes as its payment processing company NCR experienced technical issues at a data center. Target has said the two issues were unrelated.

As of Tuesday’s market close, Target’s stock, which is valued at $45 billion, and has risen more than 30% since the beginning of the year. The cash register glitch has weighed on Target shares since the weekend.

This is a breaking news story. Please check back for updates.



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