Holiday Shopping Mississippi

'We have not confirmed a compromise to our systems,' said Michaels CEO Chuck Rubin. (John Fitzhugh/Associated Press)

Michaels, the biggest U.S. arts and crafts retailer, said on Saturday that it is working with federal law enforcement officials to investigate a possible data breach on its systems that process payment cards.

"We are concerned there may have been a data security 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," Chief Executive Chuck Rubin said in a statement emailed to Reuters.

"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," he said in the statement.

There are no details yet on whether the breach includes its stores in Canada.