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Arts and Crafts Retailer Michaels Reports Possible Data Breach

b_250_0_16777215_00_images_obgrabber_2014-01_5a11e88824.jpgPhoto by Tim Boyle/Getty Images (NEW YORK) -- Michaels Stores, the arts and crafts retailer, released a statement on Saturday saying that the company is looking into a possible "data security attack." Michaels said they were working with federal law enforcement to determine whether customer information was compromised.

"While we have not confirmed a compromise to our systems," CEO Chuck Rubin said, "we believe it is in the best interest of our customers to alert them to this potential issue so they can take steps to protect themselves."

In the last two months, Target and Neiman Marcus have been the target of separate data breaches. Target said that as many as 40 million credit and debit cards may have been impacted by the breach of their data systems during the holiday season. The Neiman Marcus breach was significantly smaller, with data for 1.1 million credit and debit cards being compromised.

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