Michaels Stores, Inc. (the "Company" or "Michaels") recently learned of
possible fraudulent activity on some U.S. payment cards that had been
used at Michaels, suggesting that the Company may have experienced a
data security attack. The Company is working closely with federal law
enforcement and is conducting an investigation with the help of
third-party data security experts to establish the facts. 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
"We are concerned there may have been a data securit attack on Michaels
that may have affected our customers' payment card information and we
are taking aggressive action to determine the nature and scope of the
issue," said Chuck Rubin, CEO. "While we have not confirmed a compromise
to our systems, 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, for example, by reviewing their payment card account
statements for unauthorized charges."
Mr. Rubin added, "Throughout our 40-year history, our customers have
always been our number one priority and we deeply regret any
inconvenience this may cause. The privacy and security of our customers'
information is of critical importance to us and we are focused on
addressing this issue."
Michaels will post information related to its ongoing investigation as
appropriate on the Company's website, www.michaels.com.
Irving, Texas-based Michaels Stores, Inc. is North America's largest
specialty retailer of arts, crafts, framing, floral, wall decor and
seasonal merchandise for the hobbyist and do-it-yourself home decorator.
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