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Target profit declines on data breach fallout. $TGT

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Target Corp. said its profit plunged 46% over the year-end quarter, as the retailer absorbed the fallout from the massive holiday data breach and mounting losses from its push into Canada.

The report offers the first detailed look at the financial toll of the breach and the daunting task Target faces to recover from one of the largest credit-card thefts in history.

The disclosure of the payment card data theft less than a...

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