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TheStreet Open House

Michaels Stores Investigating Yet Another Possible Data Breach

IRVING, Texas -- Michaels Stores (which is not yet public, but has a pending filing as MIK) says it is investigating a possible company data security breach that may have affected its customers' payment card information.

The Irving, Texas, company said Saturday that it launched the probe after learning of possible fraudulent activity on some U.S. payment cards used at the home decor and crafts retailer.

Michaels Stores is working with federal law enforcement and data security experts, but has yet to confirm that its systems were compromised.

CEO Chuck Rubin suggests Michaels customers take steps to protect themselves, such as reviewing their account statements for unauthorized charges.

Neiman Marcus (also in the midst of filing to become public, as NMG) recently said a security breach last year may have affected about 1.1 million cards.

Target (TGT) has said hackers stole about 40 million debit and credit card numbers from 110 million customers during the holiday season.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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