Target on Friday announced updates on its continuing investigation into the recent data breach and its expected fourth quarter financial performance, raising the estimate of affected customers from 40 million to 70-110 million.
After it investigation, Target found that “certain guest information -separate from the payment card data previously disclosed-was taken during the data breach.” This means that target shoppers need not have shopped during the time of the incident to have their information stolen, and any information that Target may have collected on that customer through time could have been stolen.
The megastore said in a press release that they would attempt to contact the store’s guests if they have an email address on file for that customer regarding the breach. Target said that they will not be asking those customers for any additional personal information when they do so, but instead provide information that includes tips to guard against consumer scams.
“I know that it is frustrating for our guests to learn that this information was taken and we are truly sorry they are having to endure this,” said Gregg Steinhafel, chairman, president and chief executive officer, Target. “I also want our guests to know that understanding and sharing the facts related to this incident is important to me and the entire Target team.”
Target once again is insuring the public that the affected customers will have zero liability for the cost of any fraudulent charges arising from the data breach, and is offering a year of free credit monitoring and identity theft protection to all guests who shopped at any of their stores. Details to that offer will be made available next week and their shoppers will have three months to enroll in the program.
Target confirmed that news of the data breach severly dampened their sales during the holiday season. They report that sales were strong prior to the revelation of the data breach but fell as much as 6% after the news broke. Even 10% discounts in the week prior to Christmas could not reverse the trend.
Black market sites were flooded with a 10 to 20-fold increase in stolen credit cards coming from nearly every bank and credit union across the nation following Target’s data breach, according to Easy Solutions, a fraud tracking company.