Strategy

Minneapolis – Target confirmed that it suffered a major data breach that may have affected as many as 40 million credit and debit card transactions at Target stores between Nov. 27 and Dec. 15. Target said the information included customer name, credit or debit card number, and the card’s expiration date and CVV (the three-digit security code).

Cheshunt, England – British supermarket and general merchandise retailer Tesco plc has reportedly applied to the Indian government for permission to buy a 50% stake in the Indian hypermarket chain Trent Hypermarket Ltd. According to Reuters, Tesco wants to open stores in western India and would become the first foreign retailer to open a supermarket in India.

Pier 1 is touting the progress it’s made with its 1 Pier 1 omnichannel strategy, following financial results for the third quarter. Pier1.com continued to outperform the company’s expectations with increases in traffic and conversion, and representing more than 4% of total sales in the quarter.

Englewood, Colo. -- Shopkick has partnered with Sports Authority. All Shopkick users will earn "kicks" just for walking in, browsing special offers throughout the store, scanning products and making purchases at Sports Authority store locations.

“We are excited to partner with Shopkick nationwide,” said Mike E. Foss, CEO of Sports Authority. “Their innovative application engages our customers in a new and compelling way, offering added benefit to shop at Sports Authority.”

Rite Aid modestly increased its full year sales forecast following the release of third quarter results and said it will aggressively expand its “Wellness” format as it looks to drive greater growth in 2014.

New York – Barney’s New York plans to open a flagship in the Chelsea neighborhood of Manhattan in 2017. The downtown store will consist of five floors totaling close to 57,000 sq. ft. and be located on the site of a former Barney’s flagship on Seventh Avenue that was open from 1923-1998.

Target early Thursday confirmed widespread media reports that it suffered a major data breach that affected as many as 40 million credit and debit card transactions during a period that began the day before Thanksgiving through December 15.

New York -- While retail and consumer organizations have made significant security improvements, they have not kept pace in today’s business environment and are relying on yesterday’s security practices to combat current business threats and risks, according to PwC US’s recently released 2014 Global State of Information Security Survey.