Staples Inc. (SPLS) Stock Drops Following Possible Data Breach

Staples Inc. (NASDAQ:SPLS) shares dropped Tuesday following news the office supplies retailer might have been hit by a data breach. The company said it is investigating the potential theft of credit card data and has contacted law enforcement.

“We take the protection of customer information very seriously, and are working to resolve the situation,” Mark Cautela, senior public relations manager at Staples, said in an official statement.

Staples could be the latest U.S. retailer to fall victim to a cyberattack following Target Corporation’s massive data breach in 2013, along with Home Depot Inc., Michaels Stores and Neiman Marcus earlier this year. Sears Holdings Corp. announced in October that Kmart Corporation, one of its brands, had suffered a data breach after point of sale systems were compromised by malicious software. Restaurant chain Dairy Queen also announced earlier this month that a security breach struck 395 of its stores in the U.S.

“If Staples discovers an issue, it is important to note that customers are not responsible for any fraudulent activity on their credit cards that is reported on a timely basis,” Cautela said.

Shares of Staples fell over 1 percent to $12.16 in early trading on the Nasdaq.