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Home Depot offers $19.5 million in breach settlement
The Home Depot Inc. has reached a tentative settlement of consumer claims regarding a 2014 data breach that may have exposed personal and financial information of more than 50 million consumers.
Home Depot agreed to pay $13 million to reimburse affected consumers for out-of-pocket expenses and spend at least $6.5 million to offer 18 months of identity protection services for holders of cards that may have been exposed. The retailer also agreed to improve its data security and to hire a chief information security officer.
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Sports Authority supplier slashes forecast
Sport Authority’s decision to file bankruptcy is contributing to one of its suppliers making a major downward revision to a 2016 profit forecast.
Performance Sports Group, a supplier of team sports equipment under the Bauer and Easton brands, slashed its profit forecast for the current fiscal year by 55 cents to a range of 12 cents to 14 cents from a range of 66 cents to 69 cents. Nine cents of the shortfall was attributed to anticipated losses from “a U.S. national sporting goods retailer that has filed under chapter 11.”

