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ARTICLE · 24 MAY 2007

Perspective: Who Says Security Breaches Are Small Potatoes?

Duane Morris LLP
Duane Morris LLP
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The impact of computer security breaches is not hypothetical. The financial consequences are real and can be immediate. The economic cost of unauthorized computer intrusions is illustrated in the first-quarter earnings report posted by TJX Companies.

United StatesMedia, Telecoms, IT, Entertainment
Eric Sinrod
Eric Sinrod
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Reprinted with permission from CNet.com.

The impact of computer security breaches is not hypothetical. The financial consequences are real and can be immediate.

The economic cost of unauthorized computer intrusions is illustrated in the first-quarter earnings report posted by TJX Companies.

By way of background, TJX refers to itself as the leading off-price retailer of apparel and home fashions within the United States and globally. TJX operates 830 T.J. Maxx, 763 Marshalls, 271 HomeGoods, 127 A.J. Wright stores, and 35 Bob's Stores in the United States. TJX also states that it operates 185 Winners and 69 HomeSense stores in Canada, as well as 211 T.K. Maxx stores in Europe.

According to its first-quarter earnings report, TJX suffered unauthorized intrusions into portions of its computer systems that process and store information related to credit card, debit card, and check and "unreceipted" merchandise return transactions that were discovered during the fourth quarter

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