Target: Data breach caught up to 70M customers - KXXV-TV News Channel 25 - Central Texas News and Weather for Waco, Temple, Killeen |

Target: Data breach caught up to 70M customers

Posted:
By MICHELLE CHAPMAN
AP Business Writer

NEW YORK (AP) - Target says that personal information - including phone numbers and email and mailing addresses - was stolen from as many as 70 million customers in its pre-Christmas data breach. That was substantially more customers than Target had previously said were affected.

The chain also indicated its sales have been hurt by the breach, cutting its forecast for fourth-quarter earnings and a key sales barometer.

Its stock slipped in early morning trading Friday.

Target Corp. announced in December that about 40 million credit and debit cards may have been affected by a data breach that happened between Nov. 27 and Dec. 15 - just as the holiday shopping season was getting into gear.

But the net has now been cast wider, with more shoppers potentially impacted.

The company told customers Friday that its ongoing investigation of the breach has shown that more personal information had been stolen than it was aware of before and more customers were affected. It previously disclosed to customers that names, credit and debit card numbers, card expiration dates, debit-card PINs and the embedded code on the magnetic strip on the back of cards had been stolen.

"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," Chairman, President and CEO Gregg Steinhafel said in a statement.

The company said customers won't be liable for the cost of any fraudulent charges that stemmed from the breach.

Target said it will try to contact customers it has email addresses for to provide tips on how to safeguard against consumer scams. The company said it won't ask customers for any personal information during its email communications.

It's also offering a year of free credit monitoring and identity theft protection to customers that shopped at its stores. Individuals will have three months to enroll in the program. Target said it will provide more details on that next week.

Target lowered its fourth-quarter adjusted earnings guidance to a range of $1.20 to $1.30 per share, down from $1.50 to $1.60 per share.

Analysts surveyed by FactSet expect earnings of $1.24 per share.

The Minneapolis company also said that it now foresees fourth-quarter sales at stores open at least a year will be down about 2.5 percent. It previously predicted those sales would be about flat.

This figure is a closely-watched indicator of a retailer's health. It excludes results from stores recently opened or closed.

Target cautioned that its fourth-quarter financials may include charges related to the data breach. The chain said the costs tied to the breach may have a material adverse effect on its quarterly results as well as future periods.

Shares of Target declined 32 cents to $63.03 shortly after the market opened.

The company has 1,921 stores, with 1,797 locations in the U.S. and 124 in Canada.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
  • U.S. & World NewsMore>>

  • 24 Nicaraguan miners still trapped in gold mine

    24 Nicaraguan miners still trapped in gold mine

    Saturday, August 30 2014 12:12 AM EDT2014-08-30 04:12:55 GMT
    Rescuers using long ladders tried to get food and water to freelance miners trapped in a Nicaraguan gold mine, as the effort to reach the 24 men entered its second day.More >>
    Rescuers using long ladders tried to get food and water to freelance miners trapped in a Nicaraguan gold mine, as the effort to reach the 24 men entered its second day.More >>
  • Mexico operations thwart child, family migrants

    Mexico operations thwart child, family migrants

    Saturday, August 30 2014 12:10 AM EDT2014-08-30 04:10:27 GMT
    Mexico is making a big effort to stop the flow of Central Americans trying to reach the United States, and has dramatically cut the number of child migrants. But it is unclear for how long federal officials will...More >>
    Mexico is making a big effort to stop the flow of Central Americans trying to reach the United States, and has dramatically cut the number of child migrants. But it is unclear for how long federal officials will keep up...More >>
  • Rescuers race to reach trapped miners in Nicaragua

    Rescuers race to reach trapped miners in Nicaragua

    Friday, August 29 2014 10:20 PM EDT2014-08-30 02:20:04 GMT
    Rescuers on Friday located 20 of at least 24 freelance gold miners trapped underground by a landslide in northern Nicaragua, but were not immediately able to bring them to safety.More >>
    Rescuers in Nicaragua raced Friday to reach at least 24 freelance gold miners trapped by a landslide, including 20 who have been located and have managed to communicate with emergency crews.More >>
Powered by WorldNow

News Channel 25 KXXV-TV
P.O. Box 2522
Waco, TX 76702

Phone Numbers:
Main: 254-754-2525
Tip Line: 254-757-2525

Links
Contact Us
KXXV Employment Opportunites
FCC Filings
Advertise on KXXV

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KXXV. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.