Michaels may be latest retailer to have security breach

Michaels Stores, based in Texas, said it is investigating a potential security breach that could have leaked customer's credit card information to thieves. The arts and crafts retailer said it's investigating reports of fraudulent activity on credit cards belonging to its customers, the New York Times reported Saturday. The company said it hadn't confirmed a breach and wouldn't confirm the number of potentially affected customers. The Secret Service is investigating the potential breach, as it did with similar recent cyber attacks at Neiman Marcus and Target. "Although the investigation is ongoing, based on the information the company has received and in light of the widely reported criminal efforts to penetrate the data systems of U.S. retailers, Michaels believes it is appropriate to let its customers know a potential issue may have occurred," the company said in a statement.