TJX sales and share price rise despite data loss

TJX, the US retailer responsible for the biggest loss of customer data so far, saw customers and investors shrug off the potential damage as sales and share price hit record levels.

TJX, the US retailer responsible for the biggest loss of customer data so far, saw customers and investors shrug off the potential damage as sales and share price hit record levels.

The company reported net sales from continuing operations for the second quarter of the 2008 fiscal year rose 9% to £2.1bn. It estimated its total liability for the data breach at £59 million, or 12 pence per share. Just before the results came out, the share price was at a three year high of £15.

In a separate development Turkish police arrested a Ukrainian man on suspicion of trading in stolen data, including some of the estimated 46 million credit card accounts taken from TJX. According to Associated Press reports, the arrest is a sequel to 10 arrests in Florida related to use of stolen TJX data.




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