Target’s Shares Jump as Retailer Recovers From Data Breach

Target Corp. shares jumped the most in more than four years after fourth-quarter profit topped estimates and the retail chain said it was beginning to recover from a data breach that struck during the holiday season.

Net income fell 46 percent to $520 million, or 81 cents a share, from $961 million, or $1.47, a year earlier, the Minneapolis-based company said today in a statement. Analysts had projected 79 cents, the average of 21 estimates compiled by Bloomberg. Sales declined 5.3 percent to $21.5 billion in the period, which ended Feb. 1, matching predictions.