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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CkVhpCLU9NflD4Y3TiXUQflBwICsWtC5p0euRv5NoPYxC7AeeDcHVRzgfYte3xc+
 DzF4Vo+ctaDsDRcS4vcaZw==

<SEC-DOCUMENT>0001209191-03-025625.txt : 20031015
<SEC-HEADER>0001209191-03-025625.hdr.sgml : 20031013
<ACCEPTANCE-DATETIME>20031015110453
ACCESSION NUMBER:		0001209191-03-025625
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031013
FILED AS OF DATE:		20031015

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MICHAELS STORES INC
		CENTRAL INDEX KEY:			0000740670
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-HOBBY, TOY & GAME SHOPS [5945]
		IRS NUMBER:				751943604
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0201

	BUSINESS ADDRESS:	
		STREET 1:		8000 BENT BRANCH DR
		STREET 2:		********
		CITY:			IRVING
		STATE:			TX
		ZIP:			75063
		BUSINESS PHONE:		(972)409-1300

	MAIL ADDRESS:	
		STREET 1:		PO BOX 619566
		CITY:			DFW
		STATE:			TX
		ZIP:			75261-9566

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HIEMENZ DUANE E
		CENTRAL INDEX KEY:			0001186605

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09338
		FILM NUMBER:		03940992

	BUSINESS ADDRESS:	
		STREET 1:		8000 BENT BRANCH DRIVE
		CITY:			IRVING
		STATE:			TX
		ZIP:			75063
		BUSINESS PHONE:		972-409-1300

	MAIL ADDRESS:	
		STREET 1:		8000 BENT BRANCH DRIVE
		CITY:			IRVING
		STATE:			TX
		ZIP:			75063
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-10-13</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000740670</issuerCik>
        <issuerName>MICHAELS STORES INC</issuerName>
        <issuerTradingSymbol>MIK</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001186605</rptOwnerCik>
            <rptOwnerName>HIEMENZ DUANE E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>8000 BENT BRANCH DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>IRVING</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75063</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>SVP - New Business Development</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-10-13</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>20000</value></transactionShares><transactionPricePerShare><value>20.875</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>26830</value></sharesOwnedFollowingTransaction></postTran
sactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-10-13</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>20000</value></transactionShares><transactionPricePerShare><value>46.6007</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>6830</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIn
directOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-10-13</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>1667</value></transactionShares><transactionPricePerShare><value>20.985</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>8497</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><s
ecurityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-10-13</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>1667</value></transactionShares><transactionPricePerShare><value>46.6007</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>6830</value><footnoteId id="F1" /></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeHolding><securityTitle><value>Common Stock</value></securityTitle><postTransacti
onAmounts><sharesOwnedFollowingTransaction><value>1652</value><footnoteId id="F2" /></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>By 401(k) Plan</value></natureOfOwnership></ownershipNature></nonDerivativeHolding></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Stock Option (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>20.875</value></conversionOrExercisePrice><transactionDate><value>2003-10-13</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>20000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare
><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F3" /></exerciseDate><expirationDate><value>2005-07-27</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>20000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction><derivativeTransaction><securityTitle><value>Stock Option (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>20.985</value></conversionOrExercisePrice><transactionDate><value>2003-10-13</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>
M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>1667</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F4" /></exerciseDate><expirationDate><value>2006-07-30</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>1667</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>21667</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">The reported amo
unt includes 3,830 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 August 29, 2003.</footnote><footnote id="F2">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 August 29, 2003 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.</footnote><footnote id="F3">Exercise of stock options pursuant to original grant to the reporting person on July 28, 2000 of options under the Michaels Stores, Inc. Amended and Restated 1997 Stock Option Plan to purchase 35,000 shares of Michaels Stores, Inc. common stock (
adjusted to give effect to a two-for-one stock split effected in the form of a stock dividend to stockholders of record as of the close of business on November 12, 2001).  The options associated with this grant vest in three annual installments beginning on July 28, 2001.  After giving effect to the transaction that is the subject of this report, no options remain outstanding under this grant. </footnote><footnote id="F4">Exercise of stock options pursuant to original grant to the reporting person on July 31, 2001 of options under the Michaels Stores, Inc. Amended and Restated 1997 Stock Option Plan to purchase 35,000 shares of Michaels Stores, Inc. common stock (adjusted to give effect to a two-for-one stock split effected in the form of a stock dividend to stockholders of record as of the close of business on November 12, 2001).  The options associated with this grant vest in three annual installments beginning on July 31, 2002.  After giving effect to the transaction that is the subject of this report, 21
,667 options remain outstanding under this grant, 10,000 of which are currently vested and 11,667 of which will vest on July 31, 2004. </footnote></footnotes><remarks></remarks><ownerSignature><signatureName>/s/ Elizabeth K. Giddens
Elizabeth K. Giddens, Attorney-in-Fact for Duane E. Hiemenz, Senior Vice President - New Business Development</signatureName><signatureDate>2003-10-14</signatureDate></ownerSignature></ownershipDocument>

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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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