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): November 16, 2004
                                                         ------------------


                                  CARMAX, INC.
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             (Exact name of registrant as specified in its charter)


  Virginia                         1-31420                     54-1821055
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(State or other                  (Commission                  (IRS Employer
 jurisdiction                     File No.)                Identification No.)
of incorporation)


    4900 Cox Road, Glen Allen, Virginia                             23060
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   (Address of principal executive offices)                       (Zip Code)


        Registrant's telephone number, including area code: 804-747-0422
                                                            ------------  

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

Check the appropriate box below if the Form 8-K filing is intended to 
simultaneously satisfy the filing obligation of the registrant under any of the 
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act 
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act 
    (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the 
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the 
    Exchange Act (17 CFR 240.13e-4(c))






Item 8.01            Other Events.
---------            -------------

                     The registrant issued a press release on 
                     November 16, 2004, announcing its revised comparable store 
                     sales expectations and earnings per share expectations for 
                     the fiscal 2005 third quarter ending November 30, 2004. 
                     The press release is being furnished as Exhibit 99.1 hereto
                     and is incorporated by reference into this Item 8.01.




Item 9.01            Financial Statements and Exhibits.
---------            ---------------------------------
(c) Exhibits         The following exhibit is being furnished pursuant to 
                     Item 8.01 above.

         99.1        Press release, dated November 16, 2004, issued by 
                     CarMax, Inc., entitled "CarMax Raises Comparable Store 
                     Sales Expectations; Now Expects Third Quarter EPS of 
                     17(cent) or 18(cent)."










                                    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.


                                    CARMAX, INC.


                                    By:      /s/ Keith D. Browning
                                             ---------------------
                                             Keith D. Browning
                                             Executive Vice President
                                             and Chief Financial Officer





Date:  November 16, 2004








                                INDEX TO EXHIBITS




Exhibit
Number                              Exhibit
-------                             -------


   99.1           Press release dated November 16, 2004, entitled "CarMax Raises
                  Comparable Store Sales Expectations; Now Expects Third Quarter
                  EPS of 17(cent) or 18(cent)."