The cost of a high-profile data beach at Target last December keeps rippling out, but the problem is the retailer doesn’t know exactly how much, according to an interview that company interim CEO John Mulligan told CNBC Wednesday.
The “Street Signs” interview has Mulligan saying “we’re in a place when it comes to the data breach where we don’t have the visibility yet to potential third-party liabilities and operation expenses they’ve incurred.”
What’s certain, though, is the breach has cost the company plenty. Both the CEO and CIO stepping down earlier this year and the company’s disappointing financials — profits fell 21 percent in Q1 2014 — are widely attributed, in part, to the breach.
However, hobby store Michaels, which suffered its own breach, showed a 21.7 percent rise in revenue in Q1.