Evan Schuman writes:
With TJX having suffered well more than $47 million in out-of-pocket expenses from its infamous data breach (announced in 2006 but beginning as early as 2003), the $20 billion retailer is preparing to write still more checks. It has now set aside another $23.5 million for additional anticipated breach costs, according to its most recent 10-K statement filed to the SEC.
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TJX has for years been the Poster Child for retail data breach. And to date, it is also the best example of how little material impact these breaches have. Please don’t get us wrong. Even for a $20 billion chain, $50 million (and potentially many millions more) still stings.
But sting is about as bad as it gets.
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