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Achieving Closure
While we’re only just getting started on 2014, already one of the big retail stories is store closings. While the economy is far from robust, we aren’t in a recession either, and so at first these closings might seem a little surprising. I don’t see it that way, however: The recent spate of planned store closing for 2014 is exactly what we should expect from an industry in transition. It’s not a crisis, so much as it is a realignment.
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Report: Target data breach costs banks more than $200 million
New York -- The costs related to Target's data breach have now exceeded $200 million for financial institutions, according to the Consumer Bankers Association and the Credit Union National Association, the Associated Press reported. The $200 million figure does not include the cost of any a fraudulent activity, which would push the cost of the breach to the industry higher as consumers are not held liable.
The two trade associations said that 21.8 million of the 40 million compromised credit and debit cards have been replaced.