Target announced Friday that an investigation into its security breach found that 70 million of its customers have been affected; 30 million more than it originally stated were affected in December 2013.
Target said at the end of last year the credit and debit card information of 40 million of its customers was stolen during a three-week period from Nov. 27 to Dec. 15. The company apologized to its customers and launched a forensic investigation into the breach.
That investigation discovered the names, email addresses, phone numbers or mailing address of 70 million Target shoppers were compromised, the company announced in a press release.
"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," Gregg Steinhafel, Target's CEO and president, said in a statement. "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."
The Minneapolis-based retailer said those affected will not have to pay for any fraudulent charges made with their information. Target also said it will offer free credit monitoring and protection for one year.
The security breach, which occurred during the holiday season, led to a decline in expected 2013 fourth quarter sales. Target expected sales declined 2.5 percent after they first announced the security breach on Dec. 19.
"In light of the recent data breach, our top priority is taking care of our guests and helping them feel confident in shopping at Target," Target CFO John Mulligan said in a statement. "While we are disappointed in our 2013 performance, we continue to manage our business with great discipline and leverage our expense optimization efforts to reinvest in multichannel initiatives that generate long-term value for our shareholders."
