Michaels Arts Supply Store Warns Of Possible Data Breach

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http://www.huffingtonpost.com/2014/01/25/micheals-data-breach_n_4666029.html

Michaels Arts Supply Store Warns Of Possible Data Breach
Reuters
By Jim Finkle Posted: 01/25/2014 1:40 pm EST | Updated: 01/26/2014 4:59 am EST

BOSTON, Jan 25 (Reuters) - Michaels Companies Inc, the biggest U.S. arts and crafts retailer, said it is investigating a possible security breach on its payment card network and advised customers to check their financial statements for fraudulent activity.

If confirmed, it would mark the second known data breach since 2011 at Michaels, which is preparing to sell shares in an initial public offering.

"We are concerned there may have been a data security attack on Michaels that may have affected our customers' payment card information," Michaels Chief Executive Chuck Rubin said in a statement on Saturday. "We are taking aggressive action to determine the nature and scope of the issue."

The warning comes in the wake of a massive data breach at Target Corp over the holiday shopping season, and suggests that hackers may be attacking U.S. retailers in a spree the extent of which is yet to be fully understood.

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