The company provided no reason for the departure of chief executive John Gilbert, but investors seemed to like the news.
A federal source with knowledge of the investigation confirms authorities are trying to determine if hackers gained access to Target's computer systems by stealing log-in and password information from the contractor, Fazio Mechanical Services.
The hackers who stole data on millions of Target customers broke into the retailer's computers using information lifted from a Pennsylvania heating and cooling contractor, a prominent technology reporter said Wednesday.
An executive of Target Corp. says the retailer has taken actions to shore up security following the massive breach of millions of consumers' data during the holiday season. He urged banks, retailers and the government to work together to protect consumers.
One website that sells stolen credit and debit card information is clean and user friendly, but it's run by a sophisticated criminal who could harm naive users.
The institutions aren't happy about the costs they're incurring -- an estimated $25 million to $30 million -- because of the massive data breach at Target, said Bill Hampel, chief economist for the Credit Union National Association.
The consumer electronics retailer is consolidating sales departments and reducing the number of managers in Canadian stores.
The nation's biggest banks have replaced 15 million credit and debit cards involved in the massive data theft at Target stores, according to the Consumer Bankers Association, a trade group.
The consensus of analysts following 3M is that the firm will earn about $1.1 billion on sales of about $7.7 billion.
Target Chief Financial Officer John Mulligan will appear before the committee, as will representatives of Consumers Union, the Federal Trade Commission, and the U.S. Secret Service and Department of Justice.
Thieves could buy everything needed to create fake credit cards -- a card reader, writer, printer and embosser -- for about $1,500. They could buy the devices online, or directly from manufacturers.
IntelCrawler officials say they're confident the Russian teen is the source for the computer code, given electronic evidence he has left behind. That includes online posts offering the software for sale.
At 20,000 square feet, TargetExpress will be about 15 percent of the size of a typical Target store.
Shares of Best Buy fell nearly 30 percent on Thursday after the retailer reported poor financial results from the critical holiday shopping season, despite price cuts intended to keep the company competitive with rivals such as Amazon, Walmart and Target.
RAM scrapers. Point-of-sale systems. Malicious code. Cybersecurity experts explain the tools of data thieves to take us inside the Target security breach.