NEW YORK – In a reassuring sign to investors, Target Corp. Chief Executive Gregg Steinhafel said on a conference call Wednesday that the company's sales have started to recover from the card data breach it disclosed on Dec. 19. He also said Target is investing $100 million in cards equipped with chips, which industry watchers have said are less prone to hacking than the traditional magnetic stripe cards commonly used in the U.S. "We have long supported this more secure technology but broad adoption in the US market has been elusive," he said. "We believe that recent events will help the industry to reach a tipping point towards accelerated option in the U.S. and we are investing to ensure that Target is a clear leader in driving this change. I'm confident we will emerge from (the incident)." Target shares rose 5% following the announcement.
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