FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * ROULEAU R MICHAEL   2. Issuer Name and Ticker or Trading Symbol MICHAELS STORES INC [MIK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President and CEO (Last) (First) (Middle) 8000 BENT BRANCH DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 03/09/2005 (Street) IRVING, TX 75063 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 03/09/2005   S   400 D $ 34.34 138,822 D   Common Stock 03/09/2005   S   200 D $ 34.35 138,622 D   Common Stock 03/09/2005   S   1,500 D $ 34.36 137,122 D   Common Stock 03/09/2005   S   100 D $ 34.39 137,022 D   Common Stock 03/09/2005   S   200 D $ 34.4 136,822 D   Common Stock 03/09/2005   S   1,300 D $ 34.41 135,522 D   Common Stock 03/09/2005   S   400 D $ 34.42 135,122 D   Common Stock 03/09/2005   S   200 D $ 34.43 134,922 D   Common Stock 03/09/2005   S   200 D $ 34.46 134,722 D   Common Stock 03/09/2005   S   500 D $ 34.49 134,222 D   Common Stock 03/09/2005   S   600 D $ 34.5 133,622 D   Common Stock 03/09/2005   S   300 D $ 34.51 133,322 D   Common Stock 03/09/2005   S   700 D $ 34.52 132,622 D   Common Stock 03/09/2005   S   1,700 D $ 34.53 130,922 D   Common Stock 03/09/2005   S   1,400 D $ 34.54 129,522 D   Common Stock 03/09/2005   S   1,600 D $ 34.55 127,922 D   Common Stock 03/09/2005   S   700 D $ 34.56 127,222 D   Common Stock 03/09/2005   S   2,300 D $ 34.57 124,922 D   Common Stock 03/09/2005   S   300 D $ 34.58 124,622 (1) D   Common Stock               12,239 (2) I By 401(k) Plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ROULEAU R MICHAEL 8000 BENT BRANCH DRIVE IRVING, TX 75063			President and CEO

Signatures

/s/ Todd J. Thorson Todd J. Thorson, Attorney-in-Fact for R. Michael Rouleau, President and Chief Executive Officer		03/11/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The reported amount includes 24,622 shares of Michaels Stores, Inc. common stock acquired by the reporting person under the Michaels Stores, Inc. Amended and Restated 1997 Employees Stock Purchase Plan (also known as the ESPP), based on a plan statement issued by the ESPP's administrator as of January 31, 2005.
(2)	The reported amount is held by a stock fund under the Michaels Stores, Inc. Employees 401(k) Plan (also known as the 401(k) Plan) assumed to be fully invested in Michaels Stores, Inc. common stock, based on a plan statement issued by the 401(k) Plan administrator as of Febuary 28, 2005 as an estimate of the total number of shares that would be available to the reporting person if such holdings were liquidated on that date.
Remarks: This Form 4 is 2 of 2 being filed by the reporting person to report transactions executed on March 9, 2005.  Multiple forms are required in this instance to address certain technical limitations present in the Securities and Exchange Commission's filing system.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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