Recently, Home Depot shares have plummeted 2% after having record sales with a 5.8% increase for the third quarter. This is due to the fact that there has been an investigation of a possible data breach, which has now been confirmed. With Home Depot being the fourth largest retailer by revenue it is shocking that their security is not as secure as it should be. Ultimately, the breach of security is denting consumer confidence for people who shop in stores and online, and causing companies to spend a substantial amount of money for identity-theft monitoring. With large companies such as Neiman Marcus Group Ltd., P.F. Chang’s China Bistro, and Target having similar breeches within past years, it is slowly forcing Americans to convert to chip-enabled cards. I think that it is quite interesting in how the United States who are leaders in the world of technology are following Canadian technology with chip- enabled cards, which will prevent credit card theft.
photo: https://time.com/3306343/home-depot-hack-confirm/
