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): February 22, 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 February 22, 2005,
                     announcing its revised comparable store sales expectations
                     and earnings per share expectations for the fiscal 2005
                     fourth quarter ending February 28, 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 February 22, 2005, issued by
                     CarMax, Inc., entitled "CarMax Raises 4th Quarter 
                     Expectations Again; Cites Seasonal Subprime Sales 
                     Increase."










                                    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/  Austin Ligon                    
                                       --------------------------------------
                                       Austin Ligon
                                       President and
                                       Chief Executive Officer





Date:  February 22, 2005









                                INDEX TO EXHIBITS




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


 99.1             Press release dated February 22, 2005, entitled "CarMax Raises
                  4th Quarter Expectations Again; Cites Seasonal Subprime Sales 
                  Increase."