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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,
 EW8gLwvTvjy3MHNU00MkCbtVWl6itJarjTmZddK+rr+x1YZRJmood6li4pew52ab
 c9ZzkeQETuWd2CuWd93+1Q==

<SEC-DOCUMENT>0001209191-03-036474.txt : 20031223
<SEC-HEADER>0001209191-03-036474.hdr.sgml : 20031223
<ACCEPTANCE-DATETIME>20031223154447
ACCESSION NUMBER:		0001209191-03-036474
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030619
FILED AS OF DATE:		20031223

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WYLY SAMUEL EVANS
		CENTRAL INDEX KEY:			0000909761

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09338
		FILM NUMBER:		031071011

	BUSINESS ADDRESS:	
		STREET 1:		300 CRESCENT COURT
		STREET 2:		SUITE 1000
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

	MAIL ADDRESS:	
		STREET 1:		300 CRESCENT COURT
		STREET 2:		SUITE 1000
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

	FORMER NAME:	
		FORMER CONFORMED NAME:	WYLY SAM
		DATE OF NAME CHANGE:	19930726

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>doc4a.xml
<DESCRIPTION>FORM 4/A SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4/A</documentType><periodOfReport>2003-06-19</periodOfReport><dateOfOriginalSubmission>2003-06-23</dateOfOriginalSubmission><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000740670</issuerCik>
        <issuerName>MICHAELS STORES INC</issuerName>
        <issuerTradingSymbol>MIK</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000909761</rptOwnerCik>
            <rptOwnerName>WYLY SAMUEL EVANS</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>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Vice Chairman of the Board</officerTitle></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>Stock Option (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>38.9600</value></conversionOrExercisePrice><transactionDate><value>2003-06-19</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>17500.0000</value><footnoteId id="F1" /></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><va
lue>2003-06-19</value><footnoteId id="F2" /></exerciseDate><expirationDate><value>2008-06-18</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>17500.0000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>17500.0000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">This grant of options to the reporting person, though properly coded as an exempt acquisition of derivative securities in Item 4, Table II of the original Form 4 filing, was erroneously reported as a disposition, rather than an acquisition, of derivative securities in Item 5, Table II of that filing.</footnote><footnote id="F2">Grant to the reporting person on June 19, 2003 of options und
er the Michaels Stores, Inc. 2001 General Stock Option Plan (exempt) to purchase 17,500 shares of Michaels Stores, Inc. common stock, all of which vested immediately upon grant.</footnote></footnotes><remarks></remarks><ownerSignature><signatureName>/s/ Elizabeth K. Giddens
Elizabeth K. Giddens, Attorney-in-Fact for Sam Wyly</signatureName><signatureDate>2003-12-23</signatureDate></ownerSignature></ownershipDocument>

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</TEXT>
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</SEC-DOCUMENT>
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