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): May 20, 2005
                                                         ------------


                                  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 May 20, 2005,
                     announcing its revised comparable store sales expectations
                     and earnings per share expectations for the fiscal 2006
                     first quarter ending May 31, 2005. 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 May 20, 2005, issued by
                     CarMax, Inc., entitled "CarMax Revises First Quarter 
                     Expectations; Narrows Earnings Expectation Range and Lowers
                     Comparable Store Used Unit Growth Expectations."










                                    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:  May 20, 2005









                                INDEX TO EXHIBITS




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


 99.1             Press release dated May 20, 2005, entitled "CarMax Revises 
                  First Quarter Expectations; Narrows Earnings Expectation Range
                  and Lowers Comparable Store Used Unit Growth Expectations."