X0202 4 2005-03-09 0 0000740670 MICHAELS STORES INC MIK 0001187258 ROULEAU R MICHAEL 8000 BENT BRANCH DRIVE IRVING TX 75063 0 1 0 0 President and CEO Common Stock 2005-03-09 4 S 0 400 34.34 D 138822 D Common Stock 2005-03-09 4 S 0 200 34.35 D 138622 D Common Stock 2005-03-09 4 S 0 1500 34.36 D 137122 D Common Stock 2005-03-09 4 S 0 100 34.39 D 137022 D Common Stock 2005-03-09 4 S 0 200 34.40 D 136822 D Common Stock 2005-03-09 4 S 0 1300 34.41 D 135522 D Common Stock 2005-03-09 4 S 0 400 34.42 D 135122 D Common Stock 2005-03-09 4 S 0 200 34.43 D 134922 D Common Stock 2005-03-09 4 S 0 200 34.46 D 134722 D Common Stock 2005-03-09 4 S 0 500 34.49 D 134222 D Common Stock 2005-03-09 4 S 0 600 34.50 D 133622 D Common Stock 2005-03-09 4 S 0 300 34.51 D 133322 D Common Stock 2005-03-09 4 S 0 700 34.52 D 132622 D Common Stock 2005-03-09 4 S 0 1700 34.53 D 130922 D Common Stock 2005-03-09 4 S 0 1400 34.54 D 129522 D Common Stock 2005-03-09 4 S 0 1600 34.55 D 127922 D Common Stock 2005-03-09 4 S 0 700 34.56 D 127222 D Common Stock 2005-03-09 4 S 0 2300 34.57 D 124922 D Common Stock 2005-03-09 4 S 0 300 34.58 D 124622 D Common Stock 12239 I By 401(k) Plan 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. 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. 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. /s/ Todd J. Thorson Todd J. Thorson, Attorney-in-Fact for R. Michael Rouleau, President and Chief Executive Officer 2005-03-11