Michaels arts and crafts chain warns of possible data breach

Michaels Stores Inc. said it may have been the victim of an attack on its data security, making it the third major chain in a rash of assaults aimed at U.S. retailers. In a statement on its website, the arts-and-crafts retailer said it had recently learned of possible fraudulent activity involving credit or debit cards that had been used at Michaels. The company said it hasn’t determined that a breach occurred, but said it is working with federal law-enforcement authorities and computer-security experts to determine what happened.