Michaels, a large U.S.-based arts and craft store chain, says it is investigating a possible data breach. The Irving, Texas, company says it has contacted federal law enforcement and hired third-party data security consultants. The company opted to come forward without confirming a compromise because of the “widely reported criminal efforts to penetrate the data systems” of retailers, the company says. If Michaels confirms a breach, it would become the latest victim in a string of data attacks rattling merchants.”]