8-K

                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549



                                    FORM 8-K


                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 or 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                Date of Report (Date of earliest event reported):
                                  June 17, 2004


                               Schlotzsky's, Inc.

             (Exact name of registrant as specified in its charter)


             Texas                        0-27008                 74-2654208

(State or other jurisdiction of   (Commission File Number)      (IRS Employer
         incorporation)                                      Identification No.)



                         203 Colorado Street, Suite 600
                               Austin, Texas 78701
               (Address of principal executive offices) (Zip code)


                                 (512) 236-3800
               Registrant's telephone number, including area code:

                                 Not Applicable
          (Former name or former address, if changed since last report)









Item 9.           Regulation FD Disclosure.

         In accordance with General Instruction B.2. of Form 8-K, the following
information shall not be deemed to be "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended.
Schlotzsky's, Inc. disclaims any intention or obligation to update or revise
this information. Attached as Exhibit 99.1, and incorporated herein by
reference, is a copy of the registrant's press release dated June 17, 2004,
announcing the removal by the Board of Directors of Schlotzsky's, Inc. of
certain senior management and the election of a new interim Chief Executive
Officer.


                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                      SCHLOTZSKY'S, INC.


                                      By:
                                          /s/ SAM COATS
                                          --------------------------------------
                                          Name:   David Samuel Coats
                                          Title:  President and Chief
                                                  Executive Officer
Date:  June 22, 2004





                                       2




                                INDEX TO EXHIBITS

Exhibit Number                              Description
- --------------                              -----------

99.1     Schlotzsky's, Inc. Press Release dated June 17, 2004.

EX-99.1

                                                                    EXHIBIT 99.1

Board Removes Senior Management of Schlotzsky's Inc.; Names New CEO
and a Chairman

    AUSTIN, Texas--(BUSINESS WIRE)--June 17, 2004--In a special
meeting Thursday morning, the board of directors of Schlotzsky's Inc.
(Nasdaq:BUNZ) removed the senior management of the company and elected
a new interim chief executive officer.
    A company spokesperson said the board action included removing
company president and CEO John Wooley and replacing him on an interim
basis with David Samuel Coats, a veteran business executive. Senior
vice president Jeffrey Wooley, John Wooley's brother, also was removed
from office. Both Wooleys remain as directors of the company.
    The board also replaced its chairman, Floor Mouthaan, with
director Gary M. Cadenhead, a member of the faculty at the McCombs
School of Business at The University of Texas at Austin. Former Texas
Comptroller of Public Accounts John Sharp was elected vice chairman of
the board.
    Coats, the interim chief executive, is a Dallas, Texas lawyer with
extensive management experience in general business and the airline
industry. He has served as CEO of a leading U.S. package tour operator
and of a software company that provided revenue management systems to
more than 80 airlines and senior vice president of Continental
Airlines Inc.
    Schlotzsky's Inc., founded in Austin, Texas in 1971, through its
wholly owned subsidiaries, is a franchisor and operator of restaurants
in the fast casual sector. As of March 31, 2004, there were 537
Schlotzsky's(R) restaurants open and operating in 37 states, the
District of Columbia and six foreign countries. Visit
www.schlotzskys.com for more information.

    CONTACT: Schlotzsky's Inc., Austin
             Investor Relations:
             Monica Landers, 512-236-3626