8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  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):  October 8, 2003

Movie Gallery, Inc.

(Exact name of registrant as specified in its charter)

Delaware	0-24548	63-1120122
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)
900 West Main Street Dothan, Alabama		36301
(Address of principal executive offices)		(Zip Code)

(334) 677-2108

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Item 7.  Financial Statements and Exhibits

(c) Exhibits

99.1   Press Release dated October 8, 2003

Item 12.  Results of Operations and Financial Condition

On October 8, 2003, the Company issued a press release announcing its same-store revenues for the quarterly period ended October 5, 2003, as well as guidance for its net income per share for such quarterly period.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference in its entirety into this Item 12.  The information furnished in this Item 12 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, nor shall such information be deemed incorporated by reference in any filing with the Securities and Exchange Commission, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing.

SIGNATURES

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.

	MOVIE GALLERY, INC.
Date:  October 8, 2003
	BY:	/s/ J. Steven Roy
		J. Steven Roy
		Executive Vice President and
		Chief Financial Officer

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INDEX TO EXHIBITS

99.1         Press Release dated October 8, 2003

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE	Contact:	J. Steven Roy
		Executive Vice President and
		Chief Financial Officer
		(334) 677-2108

MOVIE GALLERY REPORTS STRONGER-THAN-EXPECTED INCREASE IN

SAME-STORE REVENUES OF 5.0% FOR THE THIRD QUARTER

RAISES THIRD-QUARTER EARNINGS GUIDANCE

DOTHAN, Ala. (October 8, 2003) – Movie Gallery, Inc. (Nasdaq: MOVI), one of the nation’s leading video retailers, today announced a 5.0% increase in same-store revenues for the third quarter of 2003, compared with the Company’s established guidance for third-quarter same-store revenue growth in the low single digits.  In addition, the Company announced that it expects net income per diluted share for the third quarter of at least $0.27.  Primarily due to the stronger-than-expected revenue performance, Movie Gallery has also raised its established guidance for adjusted net income for the 13-week period ended October 5, 2003, to at least $0.29 per diluted share, from its previously increased range of $0.25 to $0.27 per diluted share.

This guidance for third-quarter adjusted net income excludes $0.02 per diluted share related to the non-cash impact of the accounting change for rental inventory amortization discussed in the Company’s fourth-quarter 2002 earnings press release.  Movie Gallery believes its calculation of adjusted net income per share provides a better measure of the Company’s ongoing performance and provides better comparability to prior periods, because it excludes items not related to the Company’s core business operations.  The Company intends to release final financial results for its third quarter on November 4, 2003.

Joe T. Malugen, Chairman and Chief Executive Officer, commented, “Movie Gallery produced strong same-store revenues for the third quarter of 2003, particularly in light of a 4.7%

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increase for the third quarter last year.  In addition, we added a net total of 114 stores during the third quarter, with 79 new stores, 42 acquired stores and 7 store closures.”

To take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, you are hereby cautioned that this release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties.  These risks and uncertainties include, but are not limited to, the risk factors that are discussed from time to time in the Company’s SEC reports, including, but not limited to, the report on Form 10-K for the fiscal year ended January 5, 2003.  In addition to the potential effect of these ongoing factors, the Company will not achieve its financial estimates for the third quarter of fiscal 2003 if, among other factors, the Company’s actual expenses for the quarter differ from current estimates and expectations. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Movie Gallery, Inc. currently owns and operates 2,050 video specialty stores located throughout North America.  Movie Gallery is the leading home video specialty retailer primarily focused on rural and secondary markets.

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