UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C.  20549

                                    FORM 10-Q
(Mark One)
[X]       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
          OF THE SECURITIES EXCHANGE ACT OF 1934

          For the quarterly period ended November 26, 2005
OR

[ ]       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
          OF THE SECURITIES EXCHANGE ACT OF 1934

          For the transition period from _____________ to ______________

          Commission File No. 0-5815

                            AMERICAN CONSUMERS, INC.
                            ------------------------
             (Exact name of registrant as specified in its charter)

                GEORGIA                                58-1033765
                -------                                ----------
    (State or other jurisdiction of          (I.R.S. Employer Identification
    Incorporation or organization)                       Number)

               55 Hannah Way, Rossville, GA              30741
               -----------------------------------------------
            (Address of principal executive offices)   (Zip Code)

       Registrant's Telephone Number, including Area Code:  (706) 861-3347

     -----------------------------------------------------------------------
      (Former name, former address and former fiscal year, if changed since
                                  last report)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.  YES  (X)  NO  ( )

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Exchange Act). ( ) YES   (X)  NO

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). ( ) YES   (X)  NO

                      APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

              Class                               Outstanding at January 5, 2006
COMMON STOCK - $ .10 PAR VALUE                               800,302
NON VOTING COMMON STOCK - $ .10 PAR VALUE                     -----


                                        1
<PAGE>
<TABLE>
<CAPTION>
ITEM 1.   FINANCIAL STATEMENTS
                                       FINANCIAL INFORMATION
                                     AMERICAN CONSUMERS, INC.
                       CONDENSED STATEMENTS OF INCOME AND RETAINED EARNINGS
                                            (UNAUDITED)


                                         THIRTEEN WEEKS ENDED           TWENTY-SIX WEEKS ENDED
                                    ------------------------------  ------------------------------
                                     November 26,    November 27,    November 26,    November 27,
                                         2005            2004            2005            2004
                                    --------------  --------------  --------------  --------------
<S>                                 <C>             <C>             <C>             <C>
NET SALES                           $   8,047,771   $   8,182,495   $  16,042,860   $  16,208,466
COST OF GOODS SOLD                      6,098,898       6,206,884      12,139,073      12,303,633
                                    --------------  --------------  --------------  --------------
Gross Margin                            1,948,873       1,975,611       3,903,787       3,904,833

OPERATING, GENERAL AND
ADMINISTRATIVE EXPENSES                 1,998,887       1,969,071       3,968,676       4,032,490
                                    --------------  --------------  --------------  --------------

Operating Income (Loss)                   (50,014)          6,540         (64,889)       (127,657)

OTHER INCOME (EXPENSE)
  Interest income                           2,676             860           5,276           1,807
  Other income                             28,347          30,179          49,923          53,226
  Interest expense                        (14,251)        (14,881)        (27,453)        (29,562)
                                    --------------  --------------  --------------  --------------
Income (Loss) Before Income Taxes         (33,242)         22,698         (37,143)       (102,186)
INCOME TAXES                                    -               -               -               -
                                    --------------  --------------  --------------  --------------

NET INCOME (LOSS)                         (33,242)         22,698         (37,143)       (102,186)

RETAINED EARNINGS:
  Beginning                               939,561       1,150,455         943,462       1,275,445

  Redemption of common stock                 (243)           (400)           (243)           (506)
                                    --------------  --------------  --------------  --------------

  Ending                            $     906,076   $   1,172,753   $     906,076   $   1,172.753
                                    ==============  ==============  ==============  ==============

PER SHARE:
  Net Income (loss)                 $      (0.042)  $       0.028   $      (0.046)  $      (0.126)
                                    ==============  ==============  ==============  ==============
  Cash dividends                    $           -   $           -   $           -   $           -
                                    ==============  ==============  ==============  ==============
WEIGHTED AVERAGE NUMBER
  OF SHARES OUTSTANDING                   801,008         805,112         802,851         808,941
                                    ==============  ==============  ==============  ==============
</TABLE>
                        See Notes to Financial Statements


                                        2
<PAGE>
<TABLE>
<CAPTION>
                                    FINANCIAL INFORMATION
                                  AMERICAN CONSUMERS, INC.
                                  CONDENSED BALANCE SHEETS


                                                                 November 26,     May 28,
                                                                     2005           2005
                                                                --------------  ------------
                                                                 (Unaudited)
<S>                                                             <C>             <C>
                                      --A S S E T S--
CURRENT ASSETS
  Cash and short-term investments                               $     264,265   $   298,759
  Certificate of deposit                                              306,675       302,848
  Accounts receivable                                                 162,919       112,698
  Inventories                                                       2,210,153     2,207,089
  Prepaid expenses                                                    127,979        67,655
                                                                --------------  ------------
Total current assets                                                3,071,991     2,989,049
                                                                --------------  ------------
PROPERTY AND EQUIPMENT - at cost
  Leasehold improvements                                              292,842       290,586
  Furniture, fixtures and equipment                                 3,254,397     3,258,304
                                                                --------------  ------------
                                                                    3,547,239     3,548,890
  Less accumulated depreciation                                    (3,017,209)   (2,931,312)
                                                                --------------  ------------
                                                                      530,030       617,578
                                                                --------------  ------------
TOTAL ASSETS                                                    $   3,602,021   $ 3,606,627
                                                                ==============  ============

                          --LIABILITIES AND STOCKHOLDERS' EQUITY--
CURRENT LIABILITIES
  Accounts payable                                              $     786,276   $   752,028
  Short-term borrowings                                               532,244       434,119
  Current maturities of long-term debt                                150,615       227,309
  Accrued sales tax                                                    99,925       111,996
  Other                                                               199,622       187,917
                                                                --------------  ------------
Total current liabilities                                           1,768,682     1,713,369
                                                                --------------  ------------
LONG-TERM DEBT                                                        179,844       198,935
                                                                --------------  ------------

STOCKHOLDERS' EQUITY
  Nonvoting preferred stock - authorized 5,000,000
    shares of no par value; no shares issued                                -             -
  Nonvoting common stock - authorized 5,000,000
    shares-$.10 par value; no shares issued                                 -             -
  Common stock - $.10 par value; authorized 5,000,000
    shares; shares issued of 800,302 and 803,988 respectively          80,030        80,399
  Additional paid-in capital                                          667,389       670,462
  Retained earnings                                                   906,076       943,462
                                                                --------------  ------------
Total Stockholders' Equity                                          1,653,495     1,694,323
                                                                --------------  ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                      $   3,602,021   $ 3,606,627
                                                                ==============  ============
</TABLE>
                        See Notes to Financial Statements


                                        3
<PAGE>
<TABLE>
<CAPTION>
                              FINANCIAL INFORMATION
                            AMERICAN CONSUMERS, INC.
                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)


                                                      TWENTY-SIX WEEKS ENDED
                                                  ------------------------------
                                                   November 26,    November 27,
                                                       2005            2004
                                                  --------------  --------------
<S>                                               <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss                                          $     (37,143)  $    (102,186)
Adjustments to reconcile net loss to net cash
  provided by operating activities:
    Depreciation and amortization                       141,276         152,132
    Change in operating assets and liabilities:
      Accounts receivable                               (50,221)        (35,650)
      Inventories                                        (3,064)          6,764
      Prepaid expenses                                  (60,324)        (53,767)
      Accounts payable                                   34,248           4,669
      Accrued sales tax                                 (12,071)          8,086
      Other accrued liabilities                          11,705          30,624
                                                  --------------  --------------

Net cash provided by operating activities                24,406          10,672
                                                  --------------  --------------

CASH FLOWS FROM INVESTING ACTIVITIES
  Decrease (Increase) in certificate of deposit          (3,827)         22,619
  Purchase of property and equipment                    (53,728)        (29,987)
                                                  --------------  --------------
Net cash used in investing activities                   (57,555)         (7,368)
                                                  --------------  --------------

CASH FLOWS FROM FINANCING ACTIVITIES
  Net increase in short-term borrowings                  98,125          97,337
  Proceeds from long-term borrowings                     22,212               -
  Principal payments on long-term debt                 (117,997)       (118,564)
  Redemption of common stock                             (3,685)         (7,658)
                                                  --------------  --------------
Net cash used in financing activities                    (1,345)        (28,885)
                                                  --------------  --------------

Net decrease in cash                                    (34,494)        (25,581)
Cash and cash equivalents at beginning of period        298,759         335,135
                                                  --------------  --------------
Cash and cash equivalents at end of period        $     264,265   $     309,554
                                                  ==============  ==============
</TABLE>
                        See Notes to Financial Statements


                                        4
<PAGE>
                            AMERICAN CONSUMERS, INC.
                          NOTES TO FINANCIAL STATEMENTS

(1)  Basis of Presentation.

     The financial statements have been prepared in conformity with United
     States generally accepted accounting principles.

     The interim financial statements have not been audited and should be read
     in conjunction with the notes to the financial statements presented in the
     Corporation's 2005 Annual Report to Shareholders. The quarterly financial
     statements reflect all adjustments which are, in the opinion of management,
     necessary for a fair presentation of the results for interim periods. All
     such adjustments are of a normal recurring nature. The results for the
     interim periods are not necessarily indicative of the results to be
     expected for the complete fiscal year.

(2)  Commitments and Contingencies.

     We have estimated that capital expenditures will not exceed $150,000 for
     the year, based on the anticipated replacement of two or three vehicles
     during the fiscal year, as well as anticipated equipment failures that will
     be replaced in the ordinary course of business during the year (estimated
     based on prior experience).

     As of November 26, 2005, capital expenditures for the fiscal year to date
     totaled $53,728, primarily for two new vehicles financed through payment of
     $23,265 in cash and manufacturer financing in the amount of $22,212 on one
     of the vehicles, plus the trade-in value received for the two older
     vehicles replaced. Additionally, we expect to replace certain refrigeration
     equipment needed in one of the Company's stores at an estimated cost of
     approximately $40,000, which management intends to finance from the
     Company's operating cash flows. Apart from these expenditures and any other
     ordinary course replacements that might arise, there are no other capital
     expenditures budgeted or expected. Capital expenditures are normally funded
     from a combination of funds generated by operations and, to the extent
     necessary, additional borrowings under our bank line of credit or through
     other credit sources (including, in the case of new vehicles, manufacturer
     financing where appropriate).

     The Company adopted a retirement plan effective January 1, 1995. The plan
     is a 401(k) plan administered by BISYS Qualified Plan Services.
     Participation in the plan is available to all full-time employees after one
     year of service and age 19. Any contribution by the Company is at the
     discretion of the Board of Directors, which makes its decision annually at
     the quarterly meeting in January. The Board voted to contribute $7,500 to
     the plan for both calendar years 2004 and 2003.

     None of the Company's employees are represented by a union.

(3)  Cost of Goods Sold.

     Cost of goods sold is comprised of the cost of purchasing the Company's
     products (such as groceries and other vendor-supplied products) sold during
     the period. Cost of goods sold is equal to the beginning inventory, plus
     the cost of goods purchased during the period, less the amount comprising
     ending inventory. The cost of goods sold shown on the Company's Statement
     of Income and Retained Earnings is presented net of rebates from suppliers.
     These rebates represent cash consideration received from suppliers based
     primarily on the Company's volume of purchases from such suppliers. These
     rebates do not include reimbursement of costs incurred to sell the
     supplier's products. In accordance with EITF 02-16, the Company applies
     rebates from suppliers (excluding rebates for advertising costs) as a
     reduction in cost of goods sold.


                                        5
<PAGE>
ITEM 2
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                      CONDITION AND RESULTS OF OPERATIONS
                              RESULTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                      THIRTEEN WEEKS ENDED           TWENTY-SIX WEEKS ENDED
                                                 ------------------------------  ------------------------------
                                                  November 26,    November 27,    November 26,    November 27,
                                                      2005            2004            2005            2004
                                                 --------------  --------------  --------------  --------------
<S>                                              <C>             <C>             <C>             <C>
Sales                                            $   8,047,771   $   8,182,495   $  16,042,860   $  16,208,466
% Sales Increase (Decrease)                             (1.65)%          13.63%         (1.02)%          11.52%
Gross Margin %                                           24.22%          24.14%          24.33%          24.09%
Operating, General and Administrative Expense:
  Amount                                         $   1,998,887   $   1,969,071   $   3,968,676   $   4,032,490
  % of Sales                                             24.84%          24.06%          24.74%          24.88%
Net Income (Loss)                                $     (33,242)  $      22,698   $     (37,143)  $    (102,186)
</TABLE>

OVERVIEW:
--------

American Consumers, Inc., (the "Company"), operates eight (8) self-service
supermarkets within a compact geographical area that comprises Northwest
Georgia, Northeast Alabama and Southeast Tennessee. All of our supermarkets are
operated under the name "Shop-Rite," and are engaged in the retail sale of
groceries including meats, fresh produce, dairy products, frozen foods, bakery
products, tobacco products and miscellaneous other non-food items.

The Company continues to struggle with operating losses as we are faced with
increasing competition from other grocery retailers moving into the smaller
markets served by our stores.  The Company realized a net loss for the thirteen
weeks (quarter) ended November 26, 2005 of $33,242, bringing the net loss for
the first twenty-six weeks (six months) of fiscal 2006 to $37,143.  This
compares to a net income for the same quarter last year of $22,698, and a loss
of $102,186 for the 2005 year to date period.

Management actively monitors both the gross margin and the Company's retail
pricing structure in an attempt to maximize profitability. The gross margins for
the periods presented have remained fairly consistent. Management will attempt
to maintain stability in the gross margin, or achieve slight improvements, to
the extent possible. Management began working on the Company's gross margin
during the quarter ended August 31, 2002, at which time the gross margin stood
at 22.79% for the fiscal year ended June 1, 2002. While occasional improvements
in gross profit have been seen in recent periods, as we have previously noted,
it is difficult to maintain a trend of consistent improvement in the gross
margin due to competitive conditions which often delay the Company's ability to
pass through price increases experienced at the wholesale level. For instance,
although we succeeded in strategically adjusting our retail pricing mix to
recapture the increase that our principal supplier implemented in its wholesale
markup during the third quarter of the Company's fiscal 2005, we are still
working on further pricing adjustments to recover a fuel surcharge that the
supplier implemented early in the quarter ended November 26, 2005.

Accordingly, while management will attempt to offset any such future increases
by our principal supplier through strategic adjustments to our pricing mix,
further improvements in the gross margin may not be achievable at this time, and
deterioration in the Company's gross margin is possible.  Management believes
that competitive pressures on the Company, which have led to the losses
experienced in recent periods, will continue to increase over time as a result
of competitors opening more new stores in the Company's trade area.  These
competitors have


                                        6
<PAGE>
greater financial resources than those of the Company, and may be able to obtain
preferential treatment from suppliers in the form of advertising allowances,
lower prices and other concessions not available to the Company.  These factors
allow our competitors to engage in aggressive pricing and promotional activities
that the Company cannot match, putting us at a competitive disadvantage.  In
response to these developments, management will continue seeking to improve the
gross margin and increase profitability by working to obtain the lowest cost for
the Company's inventory, and as competition permits, by periodically
implementing adjustments in the Company's overall mix of retail prices.

Our gross margins may not be directly comparable to those of our larger
competitors, since some of those companies may include the costs of their
internal distribution networks in cost of goods sold - thus impacting the gross
margin - while others reflect such costs elsewhere (such as in operating,
general and administrative expenses).  Unlike many of the larger grocery store
chains with which we compete, the Company does not have an internal distribution
network.  Inventory is delivered directly to our individual store locations by
our wholesale supplier, which recovers its distribution costs through the markup
that it charges to the Company.

Management has been working to reduce operating, general and administrative
expenses.  As indicated by the table above, however, operating, general and
administrative expenses have remained fairly consistent in relation to sales for
the periods presented in spite of some short-term progress that has been made in
prior quarters.  As indicated above, these expenses were up approximately three
quarters of a percent for the quarter ended November 26, 2005, but are still
down by approximately one tenth of a percent in relation to sales for the year
to date ended November 26, 2005.  Further, the relatively fixed nature of
certain of these expenses means that any future decrease in sales due to the
effects of ongoing competition will likely trigger further increases in this
ratio, which could intensify the Company's operating losses.

Interest income increased significantly for both the three and six month periods
versus the prior year, due primarily to a more favorable interest rate received
upon the repricing of the Company's one year certificate of deposit.  Interest
expense remained fairly consistent between the periods presented, as reductions
in the Company's outstanding long-term debt helped to offset the impact of
rising interest rates on our remaining variable rate debt balances.  Variations
in interest income and interest expense had little impact, however, on the
overall fluctuations in the Company's net income or loss for the periods
presented.

THREE MONTHS ENDED NOVEMBER 26, 2005 COMPARED TO THREE MONTHS ENDED NOVEMBER 27,
--------------------------------------------------------------------------------
2004:
----

Sales:
-----

The sales decrease of $134,724, or 1.65%, for the 2005 quarter as compared to
the prior year resulted from the net impact of significant sales decreases at
three of the Company's grocery stores (9.52%, 4.49% and 4.03%, respectively),
partially offset by significant increases at two other stores (8.89% and 3.49%),
while sales at the other three stores remained essentially flat or decreased
only slightly.  Management attributes both the positive and negative
fluctuations in sales noted for individual store locations to factors associated
with local competition within each store's trade area and to certain geographic
and traffic pattern conditions affecting individual stores, rather than to
identifiable factors affecting multiple locations.

The sales increase of $981,491, or 13.63%, occurring for the quarter ended
November 27, 2004 over the same period ending in November 2003 resulted
primarily from the addition of the


                                        7
<PAGE>
Tunnel Hill store in January 2004.  Other Company store locations offset each
other with either very negligible growth in sales or minimal declines.
Management believes that the difficulties experienced by the Company in
increasing its sales volume, apart from the addition of new store locations, are
indicative of the effects of ongoing price competition from larger competitors
with greater financial resources than the Company.

Gross Margin:
------------
The Company's gross margin percentage for the three months ended November 26,
2005 increased by 0.08% as compared to the three months ended November 27 2004,
from 24.14% to 24.22%. This was due to management's adjustments to the Company's
overall pricing mix, including adjustments made to recapture the increase in our
primary inventory supplier's wholesale markup that occurred during the quarter
ended February 26, 2005. However the 24.22% gross margin for the most recent
quarter decreased from 24.45% for the quarter ended August 27, 2005, due
primarily to a fuel surcharge added to grocery purchases (excluding meat,
produce and certain other items) by our principal supplier early in the November
quarter. While management is further adjusting the Company's retail prices, to
the extent possible, to recover this additional increase in cost, we have only
been partially successful in doing so, which has negatively affected the gross
margin. Price increases are also expected from other vendors soon, due to
recent increases in fuel cost.

The gross margin increased from 23.75% to 24.14% for the quarters ended November
29, 2003 and November 27, 2004, respectively, due principally to management's
earlier efforts to increase the gross margin through strategic pricing
adjustments.

Operating, General and Administrative Expenses:
----------------------------------------------

The Company's operating expenses are comprised primarily of operating, general
and administrative expenses, including personnel salary costs and related
payroll costs, depreciation expense, lease expense, professional fees, bank
services charges and credit card fees, costs for office supplies, insurance
expense, advertising expense, telephone and utilities expense, repairs and
maintenance and other minor miscellaneous expenses.  For the quarter ended
November 26, 2005, these expenses increased by $29,816 and represented 24.84% of
sales versus 24.06% for the prior year period.  The primary components of this
increase were increases in supplies ($50,233), professional fees ($18,967),
utilities ($13,626), bad checks ($13,087), bank service charges and credit card
fees ($12,482), repairs and maintenance ($16,644), and various other
miscellaneous items (aggregating to $5,428), offset by decreases in store
payroll ($39,322), commercial insurance ($12,831), and advertising and sales
promotion ($48,498).  In accordance with EITF 02-16, advertising rebates
received from suppliers are deducted from advertising expense within this
category.

For the quarter ended November 27, 2004, operating, general and administrative
expenses decreased as a percentage of sales, from 24.37% for the quarter ended
November 29, 2003 to 24.06% for the 2004 period. However, these expenses
increased in absolute dollar terms by $214,302, due principally to the addition
of the Tunnel Hill store which opened in January of 2004. Significant components
of this increase included increases in store payroll ($98,476), advertising and
sales promotion ($53,289), commercial insurance ($25,448), utilities ($24,923)
rent ($11,242), group insurance ($6,126) professional services ($5,616),
depreciation expense ($3,270), bank service charges and credit card fees
($9,186) and bad checks ($5,114), as well as other miscellaneous increases,
offset by decreases in supplies expense ($31,910), repairs and maintenance
($8,973), and various other miscellaneous items.


                                        8
<PAGE>
Other Income:
------------

Other income decreased from $30,179 for the quarter ended November 27, 2004 to
$28,347 for the quarter ended November 26, 2005 for a decrease of $1,832.  The
components of other income for the quarters ended November 26, 2005 and November
27, 2004 were as follows:

<TABLE>
<CAPTION>
                                                                THIRTEEN WEEKS ENDED
                                                       --------------------------------------
           Description                                  November 26, 2005   November 27, 2004
           -----------                                 ------------------  ------------------
<S>                                                    <C>                 <C>
           Check cashing fees                          $           18,156  $           13,167
           Funds received for handling money orders                 3,926               8,954
           Vendor's compensation from the States of
             Alabama and Georgia for collecting and
             remitting sales taxes on a timely basis                3,529               3,581
           Returned check fees                                        125               2,292
           Revenue related to Fed-Ex shipments/other                2,611               2,185
                                                       ------------------  ------------------
           TOTAL                                       $           28,347  $           30,179
                                                       ==================  ==================
</TABLE>

SIX MONTHS ENDED NOVEMBER 26, 2005 COMPARED TO SIX MONTHS ENDED NOVEMBER 27,
----------------------------------------------------------------------------
2004
----

Sales:
-----

The sales decrease of $165,606, or 1.02%, for the six months ended November 26,
2005 as compared to the first six months of the prior fiscal year resulted from
the net impact of significant sales decreases at three of the Company's grocery
stores (6.57%, 3.56% and 3.36%, respectively), partially offset by significant
increases at two other stores (6.64% and 4.69%), while sales at the other three
stores remained essentially flat or decreased only slightly.  As stated above,
management attributes both the positive and negative fluctuations in sales noted
for individual store locations to factors associated with local competition
within each store's trade area and to certain geographic and traffic pattern
conditions affecting individual stores, rather than to identifiable factors
affecting multiple locations.

The sales increase of $1,673,749, or 11.52%, for the six months ended November
27, 2004 as compared to the 2003 period was due principally to the sales added
by the opening of our Tunnel Hill store on January 5, 2004.

Gross Margin:
------------
The Company's gross margin percentage for the six months ended November 26, 2005
increased by 0.24% as compared to the six months ended November 27, 2004, from
24.09% to 24.33%. This increase is due to management's adjustments to the
Company's overall pricing mix, including adjustments made to recapture the
wholesale markup increase which our primary inventory supplier began charging
during the quarter ended February 26, 2005. The gross margin is down from the
24.45% level achieved during the quarter ended August 27, 2005, however, due to
the supplier's implementation of a fuel surcharge during the most recent
quarter. Management is attempting to further adjust the Company's retail prices,
to the extent possible, to recover this additional cost. We have only been
partially successful in doing so, however, which has negatively affected the
gross margin. Price increases are also expected from other vendors soon, due to
recent increases in fuel cost.


                                        9
<PAGE>
The gross margin at November 27, 2004 increased to 24.09% from 23.78% at
November 29, 2003, due principally to management's earlier efforts to increase
the gross margin through strategic pricing adjustments.

Operating, General and Administrative Expenses:
----------------------------------------------

For the six months ended November 26, 2005, operating, general and
administrative expenses decreased by $63,814, to 24.74% of sales as compared to
24.88% for the prior year period.  This decrease was primarily due to decreases
in store payroll ($72,304), commercial insurance ($19,617), advertising and
sales promotion ($43,716), and miscellaneous expense ($12,026).  These decreases
were partially offset by increases in expenses for supplies ($16,473), group
insurance ($19,617), bank service charges and credit card fees ($21,510) and bad
checks ($25,263).

For the six months ended November 27, 2004, operating, general and
administrative expenses increased both as a percentage of sales (to 24.88% as
compared to 24.28% for the quarter ended November 29, 2003) and in absolute
terms, by $504,024 versus the prior year period. The primary components of this
increase were increases in store payroll ($201,119), advertising and sales
promotion ($51,259), commercial insurance ($39,212), utilities ($43,597),
supplies ($29,060), rent ($22,821), group insurance ($22,897), professional fees
($10,365), depreciation expense ($10,206), repairs and maintenance ($9,885),
bank service charges and credit card fees ($15,928) and bad checks ($18,963).
While expenses increased overall due to the opening of our Tunnel Hill store on
January 5, 2004, this represented some moderation of a trend noted in prior
quarters of operating, general and administrative expenses increasing as a
percent of sales. This was attributable to slight increases in same-store sales
versus the first six months of the prior fiscal year, which had the effect of
balancing some of the increases in store payroll, repairs and insurance that led
to an increased ratio for prior periods.

Other Income:
------------

Other income decreased from $53,226 to $49,923 for the six months ended November
26, 2005 compared to the six months ended November 27, 2004.  The components of
other income for the twenty-six weeks ended November 26, 2005 and November 27,
2004 were as follows:

<TABLE>
<CAPTION>
                                                               TWENTY-SIX WEEKS ENDED
                                                       --------------------------------------
           Description                                 November 26, 2005   November 27, 2004
           -----------                                 ------------------  ------------------
<S>                                                    <C>                 <C>
           Check cashing fees                          $           33,140  $           26,618
           Funds received for handling money orders                 4,944              11,817
           Vendor's compensation from the States of
             Alabama and Georgia for collecting and
             remitting sales taxes on a timely basis                7,080               7,127
           Returned check fees                                        415               4,482
           Revenue related to Fed-Ex shipments/other                4,344               3,182
                                                       ------------------  ------------------
           TOTAL                                       $           49,923  $           53,226
                                                       ==================  ==================
</TABLE>


                                        10
<PAGE>
INCOME TAXES:
------------

The Company accounts for income taxes in accordance with the provisions of SFAS
No. 109, "Accounting for Income Taxes," which requires that deferred income
taxes be determined based on the estimated future tax effects of differences
between the financial statement and tax bases of assets and liabilities given
the provisions of the enacted tax laws.  Valuation allowances are used to reduce
deferred tax assets to the amount considered likely to be realized.

No amounts have been provided for current and deferred federal and state tax
expense in the statements of income for the six months ended November 26, 2005
or November 27, 2004, as a result of continued net operating losses and the
related full valuation of the Company's net deferred tax assets.

INFLATION:
---------

The Company continues to seek ways to cope with the threat of renewed inflation,
although inflation currently is not a significant factor except as discussed
above in relation to recent supplier wholesale price increases, driven in part
by increased fuel costs.  To the extent permitted by competition, increased
costs of goods and services to the Company are reflected in increased selling
prices for the goods sold by the Company.


                               FINANCIAL CONDITION

LIQUIDITY AND CAPITAL RESOURCES:
-------------------------------

Changes in the Company's liquidity and capital resources during the periods
presented resulted primarily from the following:

During the twenty-six weeks ending November 26, 2005, the Company decreased its
cash and cash equivalents in the amount of $34,494, increased its draws under
its line of credit with Northwest Georgia Bank by $100,000, bringing the
outstanding line balance to the full $500,000 available to be borrowed, and
incurred additional long-term debt in the amount of $22,212 in connection with
the purchase of a new vehicle. We paid down the Company's existing long-term
debt by approximately $118,000 during this twenty-six week period, increased our
certificate of deposit by approximately $3,800 and made principal payments on
short-term notes in the amount of $3,000. While the Company has encountered a
year to date net loss of $37,143 for fiscal 2006, its impact on the Company's
liquidity has been lessened somewhat by the fact that the year to date results
include $141,276 in non-cash depreciation and amortization charges, which have
no impact on the Company's cash flow. Subsequent to the end of the quarter, we
completed the early payoff of the note incurred to finance the addition of our
seventh grocery store, which was due to mature in April 2006. After allowing for
the $433 monthly payment associated with the new vehicle that was financed
during the period, this resulted in a net reduction in our monthly debt service
requirements of $3,143.

Purchases of property and equipment approximated $53,700 for this twenty-six
week period, including replacement of two vehicles financed through payment of
$23,265 in cash and manufacturer financing in the amount of $22,212 on one of
the vehicles, plus the trade-in value received for the two older vehicles
replaced. Management expects to replace certain refrigeration equipment in one
of the Company's stores at an estimated cost of approximately $40,000, which we
intend to finance through operating cash flows. Apart from these


                                       11
<PAGE>
expenditures and any other ordinary course replacements that might arise,
there are no other capital expenditures budgeted or expected.

During the twenty-six weeks ending November 27, 2004, the Company's cash, and
cash equivalents declined by $25,581.  While the Company incurred a net loss of
$102,186 for the period, the impact of the loss was offset by $152,132 in
non-cash depreciation and amortization charges taken during the period which,
when coupled with the net effect of other operational items, resulted in a
positive cash inflow from operations of $10,672.  However, the Company's net
cash outflows from its investing and financing activities created an overall
decrease in cash.  Purchases of property and equipment of approximately $30,000
were offset by cash flow generated through a $22,600 reduction in the balance on
the Company's certificate of deposit, resulting in net cash used in investing
activities of $7,368.  Significant components of the $28,885 in net cash
outflows from financing activities during the twenty-six weeks ended November
27, 2004, included the repurchase of $7,658 of common stock and payments of
$118,564 of principal outstanding on long-term debt, offset by the drawdown of
an additional $100,000 on our bank line of credit, bringing the outstanding line
balance to $400,000 and leaving $100,000 in remaining availability.

The  ratio  of current assets to current liabilities was 1.74 to 1 at the end of
the latest quarter, November 26, 2005 compared to 1.84 to 1 on November 27, 2004
and  1.74  to 1 at the end of the fiscal year ended on May 28, 2005.  Cash, cash
equivalents  and  the  certificate  of  deposit  constituted 18.59% of the total
current  assets at November 26, 2005, as compared to 18.73% of the total current
assets  at  November  27, 2004 and 20.13% at May 28, 2005.  These ratios reflect
the  trends  discussed above, in that the Company increased its reliance on bank
financing  during  recent  periods, due to increased losses which coincided with
increased  inventory  and  capital  spending  requirements  related  to  the
establishment of our eighth grocery store location.  Management has been working
to  gradually  reduce  the  Company's  inventory  level in order to moderate the
effects  of  these  developments  on  the  Company's overall liquidity. However,
inventories  at  November  26,  2005  increased  by $3,064 over the inventory at
year-end  May  28, 2005, due to seasonal requirements for increased inventory to
meet  customer  demand  during  the  holiday  periods  in November and December.

Historically, the Company has financed its working capital requirements
principally through its cash flow from operations.  Short-term borrowing to
finance inventory purchases is provided by the Company's $500,000 line of credit
from its bank and through borrowings from related parties, as discussed below.
The bank line of credit is secured by the Company's certificate of deposit.
While we believe that these sources will continue to provide us with adequate
liquidity to supply the Company's working capital needs, if the Company's
operating losses were to increase relative to depreciation and other non-cash
charges, our operating cash flows could be adversely affected.  If this happens,
we could be required to seek additional financing through bank loans, or other
sources, in order to meet our working capital needs.  If we were required to
seek such additional financing and were not able to obtain it, or were unable to
do so on commercially reasonable terms, we could be required to reduce the
Company's current level of operations in order to lower our working capital
requirements to a level that our present financing arrangements would support.


                                       12
<PAGE>
Short-term borrowings as of specific dates are presented below:

<TABLE>
<CAPTION>
                              November 26,      May 28,     November 27,
                                  2005           2005           2004
                              -------------  -------------  -------------
<S>                           <C>            <C>            <C>
Michael and Diana Richardson  $      12,190  $      12,776  $      13,446
Matthew Richardson                   20,054         21,343         23,941
Line of Credit                      500,000        400,000        400,000
                              -------------  -------------  -------------
TOTAL                         $     532,244  $     434,119  $     437,387
                              =============  =============  =============
</TABLE>

The Company's line of credit with Northwest Georgia Bank bears interest at
prime, subject to a 6.0% floor.  Notes to Michael and Diana Richardson and to
Matthew Richardson are unsecured, payable on demand and bear interest at .25%
below the base rate charged by Northwest Georgia Bank on the line of credit.
Michael Richardson is Chairman of the Board and Chief Executive Officer of the
Company.  Diana Richardson is the wife of Michael Richardson, and Matthew
Richardson is their son.

LONG-TERM DEBT:
--------------

At November 26, 2005, long-term debt consisted of a note payable to Northwest
Georgia Bank of $72,584 to finance cash registers and peripheral equipment and
notes payable to Northwest Georgia Bank of $6,941 incurred in April 2001 to
finance the addition of the Company's seventh grocery store and $228,722
incurred in December 2003 to finance the addition of the Company's eighth
grocery store.  In addition, one vehicle was purchased during the quarter and
financed through Ford Motor Credit, with a balance due at November 26, 2005 of
$22,212.  Long-term debt as of specific dates are presented below:

<TABLE>
<CAPTION>
                                                November 26,      May 28,     November 27,
                                                    2005           2005           2004
                                                -------------  -------------  -------------
<S>                                             <C>            <C>            <C>
     Note payable, Bank, secured by
     all inventory, machinery and
     equipment, due $6,781 monthly
     plus interest at prime with 6% floor
     through December 2008.                     $     228,722  $     261,309  $     293,542

     Note payable, Bank, secured by
     all inventory, machinery and
     equipment, due $11,381 monthly
     plus interest at the prime rate
     through September 2006.                           72,584        137,287        200,900

     Note payable, Bank, secured by
     all inventory, machinery and
     equipment, due $3,576 monthly
     plus interest at the prime rate plus 1.5%
     through April, 2006.                               6,941         27,648         47,766

     Vehicle loans; collateralized by
     automobiles due $1,305 monthly
     through December 2004 and due $433
     monthly through December 2010.                    22,212             --          1,306
                                                -------------  -------------  -------------
                                                $     330,459  $     426,244  $     543,514
     Less current maturities                          150,615        227,309        241,835
                                                -------------  -------------  -------------
                                                $     179,844  $     198,935  $     301,679
                                                =============  =============  =============
</TABLE>


                                       13
<PAGE>
The following is a schedule by years of the amount of maturities of all
long-term debt subsequent to November 26, 2005:

<TABLE>
<CAPTION>
                Twelve Months
               Ending November        Amount
               ---------------       --------
<S>                                  <C>
                    2006             $150,615
                    2007               76,536
                    2008               82,036
                    2009               15,915
                    2010                5,357
</TABLE>

During the quarter ended November 26, 2005 retained earnings decreased as a
result of the Company's net loss for the quarter.

CRITICAL ACCOUNTING POLICIES:
----------------------------

Critical accounting policies are those policies that management believes are
important to the portrayal of the Company's financial condition and results of
operations and require management's most difficult, subjective or complex
judgments, often as a result of the need to make estimates about the effect of
matters that are inherently uncertain.

Management has determined valuation of its inventories as a critical accounting
policy.  Inventories are stated at the lower of average cost or market.

OFF-BALANCE SHEET ARRANGEMENTS:
------------------------------

The Company had no significant off-balance sheet arrangements as of November 26,
2005.

RELATED PARTY TRANSACTIONS:
--------------------------

Except as discussed under "Liquidity and Capital Resources," there were no
material related party transactions during the twenty-six week period ended
November 26, 2005.

FORWARD - LOOKING STATEMENTS:
----------------------------

Information provided by the Company, including written or oral statements made
by its representatives, may contain "forward looking information" as defined in
Section 21E of the Securities Exchange Act of 1934, as amended.  All statements
which address activities, events or developments that the Company expects or
anticipates will or may occur in the future, including such things as expansion
and growth of the Company's business, the effects of future competition, future
capital expenditures and the Company's business strategy, are forward-looking
statements.  In reviewing such information it should be kept in mind that actual
results may differ materially from those projected or suggested in such
forward-looking statements.  This forward-looking information is based on
various factors and was derived utilizing numerous assumptions.  Many of these
factors previously have been identified in filings or statements made on behalf
of the Company, including filings with the Securities and Exchange Commission on
Forms 10-Q, 10-K and 8-K.  Important assumptions and other important factors
that could cause actual results to differ materially from those set forth in the
forward-looking statements include: changes in the general economy or in the
Company's primary markets, the effects of ongoing price competition from
competitors with greater financial resources than those of the Company, changes
in consumer spending, the nature and extent of continued consolidation in the
grocery store industry, changes in the rate of inflation, changes in state or
federal legislation or


                                       14
<PAGE>
regulation, adverse determinations with respect to any litigation or other
claims, inability to develop new stores or complete remodels as rapidly as
planned, stability of product costs, supply or quality control problems with the
Company's vendors, and other issues and uncertainties detailed from time-to-time
in the Company's filings with the Securities and Exchange Commission.


ITEM 3.     QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company does not engage in derivative transactions, nor does it hold or
issue financial instruments for trading or other speculative purposes.  The
Company is exposed to market risk related to changes in interest rates primarily
as a result of its borrowing activities.  The effective interest rate on the
Company's borrowings under its Line of Credit Agreements and under its
outstanding notes varies with the prime rate.  The Company does not maintain any
interest rate hedging arrangements.  Based on the Company's outstanding
indebtedness at November 26, 2005 (and annualized to represent a full twelve
months of results), a one percent (1.0%) increase in the prime interest rate
would increase interest expense applicable to our variable rate debt (and our
net loss) by approximately $8,600 annually.  Due to the effect of the interest
rate floor provisions in a majority of the Company's variable rate debt, a one
percent (1.0%) decrease in the prime interest rate would not be expected to have
a material impact on the Company's annualized interest expense at November 26,
2005.  All of the Company's business is transacted in U.S. dollars and,
accordingly, foreign exchange rate fluctuations have never had a significant
impact on the Company and they are not expected to in the foreseeable future.

ITEM 4.     CONTROLS AND PROCEDURES

As of the end of the period covered by this quarterly report, an evaluation was
performed, under the supervision and with the participation of our management,
including the Company's Chief Executive Officer and the Chief Financial Officer,
of the effectiveness of the design and operation of the Company's disclosure
controls and procedures pursuant to Exchange Act Rule 13a-15.  Based on that
evaluation, the Chief Executive Officer and Chief Financial Officer concluded
that the Company's disclosure controls and procedures are effective.  No change
in the Company's internal control over financial reporting occurred during the
period covered by this quarterly report that materially affected, or is
reasonably likely to materially affect, our internal control over financial
reporting.


                                       15
<PAGE>
                            AMERICAN CONSUMERS, INC.

                          PART II     OTHER INFORMATION


ITEM 2.     UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(c)     Issuer Repurchases:
        ------------------

The following table presents information with respect to repurchases of common
stock made by the Company during the fiscal quarter covered by this report:

<TABLE>
<CAPTION>
                                Average     Total Number of     Maximum Number of
                Total Number     Price    Shares Purchased as  Shares that May Yet
                  of Shares    Paid per   Part of a Publicly      Be Purchased
Period          Purchased (1)    Share      Announced Plan       Under the Plan
--------------  -------------  ---------  -------------------  -------------------
<S>             <C>            <C>        <C>                  <C>
August 28 -             2,695  $    1.00                    -                    -
Oct. 1, 2005

October 2,  -             990       1.00                    -                    -
Oct. 29, 2005

October 30,  -              -          -                    -                    -
Nov. 26, 2005
                -------------  ---------  -------------------  -------------------

TOTAL                   3,685  $    1.00                    -                    -
                =============  =========  ===================  ===================
</TABLE>

(1)  Represents shares repurchased at $1.00 per share in response to unsolicited
     requests from unaffiliated shareholders during the quarter.


ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

The Company held its Annual Meeting of Shareholders on September 22, 2005, at
which shareholders were asked to vote on the election of directors for the
fiscal year ending in 2006. Proxies were solicited by management in favor of
seven nominees, with no solicitation in opposition to management's nominees.
All of such nominees were elected, with the number of votes cast for, against,
or withheld as well as the number of broker non votes and abstentions as to each
nominee having been as follows:

<TABLE>
<CAPTION>
                        TOTAL    VOTES    VOTES             BROKER
                       SHARES    CAST     CAST     VOTES     NON
NOMINEE                 VOTED     FOR    AGAINST  WITHHELD  VOTES
-------                -------  -------  -------  --------  ------
<S>                    <C>      <C>      <C>      <C>       <C>
Michael A. Richardson  591,701  591,701     0        0      31,786
Paul R. Cook           591,701  591,701     0        0      31,786
Virgil E. Bishop       591,701  591,701     0        0      31,786
Thomas L. Richardson   591,701  591,701     0        0      31,786
Jerome P. Sims, Sr.    591,701  591,701     0        0      31,786
Andrew V. Douglas      591,701  591,701     0        0      31,786
Danny R. Skates        591,701  591,701     0        0      31,786
</TABLE>


                                       16
<PAGE>
ITEM 6     EXHIBITS

     The following exhibits are filed as a part of the report.

     (11)      Statement re: computation of per share earnings.

     (31.1)    CEO Certification pursuant to Exchange Act Rules 13a-14(a) and
               15d-14(a).

     (31.2)    CFO Certification pursuant to Exchange Act Rules 13a-14(a) and
               15d-14(a).

     (32.1)    CEO Certification pursuant to Exchange Act Rules 13a-14(b) and
               15d-14(b).

     (32.2)    CFO Certification pursuant to Exchange Act Rules 13a-14(b) and
               15d-14(b).


                                       17
<PAGE>
                                   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 thereunto duly authorized.


                                        AMERICAN CONSUMERS, INC.
                                        (Registrant)


        January 10, 2006                /s/ Michael A. Richardson
Date:  ____________________             ____________________________
                                        Michael A. Richardson
                                        CHAIRMAN OF THE BOARD AND
                                        CHIEF EXECUTIVE OFFICER
                                        (Principal Executive Officer)

        January 10, 2006                /s/ Paul R. Cook
Date:  ____________________             ____________________________
                                        Paul R. Cook
                                        EXECUTIVE VICE PRESIDENT AND
                                        TREASURER
                                        (Principal Financial Officer & Chief
                                        Accounting Officer)


                                       18
<PAGE>
                            AMERICAN CONSUMERS, INC.

                                  EXHIBIT INDEX


Exhibits filed with this report:


     (11)      Statement re: computation of per share earnings.

     (31.1)    CEO Certification pursuant to Exchange Act Rules 13a-14(a) and
               15d-14(a).

     (31.2)    CFO Certification pursuant to Exchange Act Rules 13a-14(a) and
               15d-14(a).

     (32.1)    CEO Certification pursuant to Exchange Act Rules 13a-14(b) and
               15d-14(b).

     (32.2)    CFO Certification pursuant to Exchange Act Rules 13a-14(b) and
               15d-14(b).


                                       19