Michaels Emerges Largely Unscathed by Data Breach

Michaels assured customers a previously disclosed data security issue had been fully contained and raised the disconcerting prospect that it's only possible to make such a claim after a breach has been detected. The company said in January that it learned of possible fraudulent activity on some U.S. payment cards that had been used at its stores. An extensive investigation ensued that involved two independent security firms who, along with the company, worked closely with law enforcement authorities, banks and payment processors to determine what happened.