"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, Target chairman, president and chief executive.
Target said consumers would have "zero liability" due to any fraudulent charges arising from the breach. It offered one year of free credit monitoring protection.
The company also said fourth-quarter earnings had been hit by "meaningfully weaker-than-expected sales" since it disclosed the data breach.
It now expects fourth-quarter comparable store sales to decline 2.5pc from its prior forecast of flat sales.
The company said it may need to take a charge for expenses related to the data breach to cover a number of potential costs, including reimbursements for credit card fraud, liabilities from civil litigation, government investigations and enforcement proceedings.
"These costs may have a material adverse effect on Target's results of operations in fourth quarter 2013 and/or future periods," Target said.
Target shares, which have underperformed the S&P 500 since the disclosure, fell 1pc in early trading on Friday.
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