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Target chief apologizes for cash register crash issues

June 19, 2019

Target CEO Brian Cornell apologized to customers Wednesday about the cash register and credit card processing snafus of the past weekend, which shuttered nearly all purchase activity for a few hours last Saturday and Sunday.

"Within a couple of hours, our teams were able to identify the root cause and push the fix to our stores and get us back up and running," Cornell said during an interview on CNBC's Squawk Box program. "But disappointing performance."

Despite an analyst prediction earlier this week that Target would see a $50 million loss from the outages, Cornell said there is no impact to the retailer’s earnings forecast.

"Wages are rising, interest rates have stayed in check, and overall, there's strong consumer confidence," Cornell said on the program.