Target Offers Update on Data Breach, Earnings Expectations
Target (NYSE:TGT) on Friday issued an update on its data breach investigation nearly one month after alerting customers of possible security theft affecting more than 40 million debit and credit cards.
The Minneapolis-based retailer has watched sales drop and consumer demand deflate after it announced just a week before Christmas that data from about 40 million credit and debit cards were stolen from shoppers at its stores during the first three weeks of the holiday season. The company has stuck to its word about continuing to release new information, and it did so again on Friday via Seeking Alpha.
Target announced that from its ongoing investigation, it has determined that certain customer information was taken during the data breach that is separate from the payment card data already disclosed. This was discovered as officials launched their comprehensive investigation, and from the information they found, they determined that a separate theft had occurred — not considered a new breach — that compromised names, mailing addresses, phone numbers, or email addresses for up to 70 million people.