Target Corp. slashed its annual profit outlook for the second time in three months as the retailer reels from a massive customer-data breach, a botched Canadian expansion and sluggish U.S. sales. The nation's third-largest retailer also said Wednesday that its second-quarter earnings dropped 61.7 percent. Excluding expenses related to the data breach, earnings per share came in a penny short of Target's reduced estimate, issued earlier this month. The latest results highlight the challenges that new CEO Brian Cornell, a former PepsiCo executive who officially started at Target Aug.

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Topics:  corp   u.s    ceo brian cornell   pepsico   target aug   target   outlook   breach   retailer   earnings   
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