Michaels Retailer Security Breach Affects Over 2.6 Million Cards

Michaels Stores Inc. confirmed this week that there was a security breach at certain systems that process payment cards at its stores in the U.S.

The breach also affects its unit Aaron Brothers, according to Reuters. Michaels is regarded as the biggest arts and crafts retailer in the country.

The breach took place between May 8, 2013 and Jan. 27, 2014, according to Reuters.

Approximately 2.6 million cards, or 7 percent of payment cards used at its stores during that period might have been affected by the breach.

Around 400,000 additional cards were possibly impacted at its Aaron Brothers unit between June 26, 2013 and Feb. 27, 2014, according to Reuters.

Back in January, Michaels confirmed that it was investigating a potential data breach with federal law enforcement officials.

The company said there is "no evidence" that data, like customers name or personal identification, were at risk, Michaels said in a statement.

This is the second data breach at Michaels Stores in the last four years.

The company said that it was working with banks, payment processors, and law enforcement authorities, and confirmed the malware "no longer presents a threat."

Michaels Stores major investors are Blackstone Group LP and Bain Capital LP.

In 2013, Target Corp suffered a highly-publicized security breach that affected nearly 70 million customers.

Michaels Stores competes with Wal-Mart Stores Inc., Hooby Lobby Stores Inc, and Jo-Ann Stores Inc.