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Target says it is prepared for dockworkers' strike

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Target has a “well- defined” contingency plan to deal with a looming dockworkers' strike on the East Coast, Jessica Deede, a spokeswoman for the Minneapolis-based company said in an e-mail to Business Insider. She declined to describe the plan.

Georgia's ports chief and the leader of a Savannah, Ga., union both tried to be hopeful Thursday that U.S. dock workers and shipping companies will come to an agreement to solve a contract dispute without a strike that would shut down seaports from Maine to Texas, the Associated Press reported.

Here's National Retail Federation CEO Matthew Shay discussing the effects of a possible dockworkers strike on Bloomberg Television.

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