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 September 1, 2007
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
      Incorporation or organization)         Identification 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 a large accelerated filer, an
accelerated filer, or a non-accelerated filer.  See definition of "accelerated
filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check
one):

Large accelerated filer ( )   Accelerated filer ( )   Non-accelerated filer (X)

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 October 5, 2007
COMMON STOCK - $ .10 PAR VALUE                           784,766
NON VOTING COMMON STOCK - $ .10 PAR VALUE                -------


<PAGE>
ITEM 1.   FINANCIAL STATEMENTS

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

                                                      THIRTEEN WEEKS ENDED
                                                 ------------------------------
                                                  September 1,    September 2,
                                                      2007            2006
                                                 --------------  --------------
<S>                                              <C>             <C>
NET SALES                                        $   8,740,882   $   8,390,711
COST OF GOODS SOLD                                   6,697,344       6,377,694
                                                 --------------  --------------
Gross Margin                                         2,043,538       2,013,017

OPERATING, GENERAL AND ADMINISTRATIVE EXPENSES       2,017,106       2,007,795
                                                 --------------  --------------

Operating Income                                        26,432           5,222

OTHER INCOME (EXPENSE)
  Interest income                                        3,638           3,628
  Other income                                          37,036          26,350
  Interest expense                                     (18,278)        (14,853)
                                                 --------------  --------------
Income Before Income Taxes                              48,828          20,347
INCOME TAXES                                                 -               -
                                                 --------------  --------------

NET INCOME                                              48,828          20,347

RETAINED EARNINGS:
  Beginning                                            872,388         775,615

  Redemption of common stock                               (51)            (59)
                                                 --------------  --------------

  Ending                                         $     921,165   $     795,903
                                                 ==============  ==============

PER SHARE:
  Net income                                     $       0.062   $       0.026
                                                 ==============  ==============
  Cash dividends                                 $           -   $           -
                                                 ==============  ==============
WEIGHTED AVERAGE NUMBER
  OF SHARES OUTSTANDING                                785,416         796,257
                                                 ==============  ==============
</TABLE>

                        See Notes to Financial Statements


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

                                                        September 1,     June 2,
                                                            2007           2007
                                                       --------------  ------------
                                                        (Unaudited)
<S>                                                    <C>             <C>
                                    --ASSETS--
CURRENT ASSETS
  Cash and cash equivalents                            $     601,991   $   582,472
  Certificate of deposit                                     300,000       312,161
  Accounts receivable                                        135,043       233,057
  Inventories                                              2,149,624     2,118,189
  Prepaid expenses                                           161,934       154,213
                                                       --------------  ------------
Total current assets                                       3,348,592     3,400,092
                                                       --------------  ------------
PROPERTY AND EQUIPMENT - at cost
  Leasehold improvements                                     300,800       300,800
  Furniture, fixtures and equipment                        3,312,670     3,298,923
                                                       --------------  ------------
                                                           3,613,470     3,599,723
  Less accumulated depreciation                           (3,278,097)   (3,275,328)
                                                       --------------  ------------
                                                             335,373       324,395
                                                       --------------  ------------
TOTAL ASSETS                                           $   3,683,965   $ 3,724,487
                                                       ==============  ============

                      --LIABILITIES AND STOCKHOLDERS' EQUITY--

CURRENT LIABILITIES
  Accounts payable                                     $     858,965   $   904,396
  Short-term borrowings                                      584,584       623,940
  Current maturities of long-term debt                        48,395        40,206
  Accrued sales tax                                          141,191       152,893
  Other                                                      223,739       224,683
                                                       --------------  ------------
Total current liabilities                                  1,856,874     1,946,118
                                                       --------------  ------------
LONG-TERM DEBT                                               172,707       172,044
                                                       --------------  ------------

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 785,100 and 785,870              78,510        78,587
  Additional paid-in capital                                 654,709       655,350
  Retained earnings                                          921,165       872,388
                                                       --------------  ------------
Total Stockholders' Equity                                 1,654,384     1,606,325
                                                       --------------  ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY             $   3,683,965   $ 3,724,487
                                                       ==============  ============
</TABLE>

                        See Notes to Financial Statements


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

                                                          THIRTEEN WEEKS ENDED
                                                     ------------------------------
                                                      September 1,    September 2,
                                                          2007            2006
                                                     --------------  --------------
<S>                                                  <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income                                           $      48,828   $      20,347
Adjustments to reconcile net income to
  net cash provided by operating activities:
    Depreciation and amortization                           30,834          37,546
    Change in operating assets and liabilities:
      Accounts receivable                                   98,014          17,632
      Inventories                                          (31,435)          1,236
      Prepaid expenses                                      (7,721)        (54,873)
      Accounts payable                                     (45,431)        173,384
      Accrued sales tax                                    (11,702)        (19,022)
      Other accrued liabilities                               (944)         11,204
                                                     --------------  --------------
Net cash provided by operating activities                   80,443         187,454
                                                     --------------  --------------

CASH FLOWS FROM INVESTING ACTIVITIES
  Decrease in certificate of deposit                        12,161          14,773
  Purchase of property and equipment                       (41,811)         (2,735)
                                                     --------------  --------------
Net cash provided by (used in) investing activities        (29,650)         12,038
                                                     --------------  --------------

CASH FLOWS FROM FINANCING ACTIVITIES
  Net decrease in short-term borrowings                    (39,356)        (13,684)
  Proceeds from long-term debt                              35,435            ----
  Principal payments on long-term debt                     (26,583)        (23,346)
  Redemption of common stock                                  (770)           (893)
                                                     --------------  --------------
Net cash used in financing activities                      (31,274)        (37,923)
                                                     --------------  --------------
Net increase in cash                                        19,519         161,569
Cash and cash equivalents at beginning of period           582,472         334,654
                                                     --------------  --------------
Cash and cash equivalents at end of period           $     601,991   $     496,223
                                                     ==============  ==============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid during the quarter for:
  Interest                                           $      18,278   $      14,853
                                                     ==============  ==============
</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  2007  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.

     Ordinary  course  capital  expenditures  for  replacements  of  store
     equipment  during fiscal 2008 are estimated to be $50,000 or less, which we
     expect  to  be  funded  from  operating  cash  flows.  In addition to these
     expected  equipment  replacements,  two vehicles have been purchased during
     the  first  quarter  of fiscal 2008 at a cost of $35,435. We also expect to
     replace  the  Company's  maintenance  vehicle  during  fiscal  2008  at  an
     estimated cost of approximately $30,000 to $35,000, which we expect to fund
     through  either  bank or manufacturer financing, whichever will provide the
     Company  with  the  most  favorable  terms.  Finally,  while management has
     attempted  to  postpone  future upgrades of our existing cash registers and
     scanning  equipment,  the  pending change to add an additional digit to UPC
     bar codes on inventory items and the deterioration of the current equipment
     will  likely require such upgrades to begin within the current fiscal year.
     The  estimated  costs  of  the  upgrades  range from $54,545 to $69,319 per
     store, depending on the ability to use current scanners and scales. We will
     attempt  to  manage  the  number  of units purchased and the timing of such
     purchases  to  both  contain  the  Company's  overall costs and allow us to
     finance  these purchases on the most favorable terms that we can obtain. As
     of  September  1,  2007,  capital  expenditures for the fiscal year to date
     totaled  $41,811, including the above vehicles and a meat scale and printer
     and  a  used ice machine. Two additional meat scales and printers have been
     purchased since the end of the current quarter at a cost of $9,464, leaving
     five  more  stores  where similar equipment will need to be updated (likely
     during  the  current  fiscal  year)  due  to  wear and tear on these items.

     The  Company  has  adopted  a  401(k)  plan that is administered by Capital
     Bank  and  Trust  Company.  Participation  in  the plan is available to all
     full-time  employees.  The  Company's  annual contributions to the plan are
     discretionary. The Company's contribution to the plan was $7,500 in each of
     fiscal  years  2007,  2006  and  2005.

(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)
     which  are  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


                                        5
<PAGE>
     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.


                                        6
<PAGE>
ITEM  2
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS
                              RESULTS OF OPERATIONS
                              ---------------------

<TABLE>
<CAPTION>
                                                       THIRTEEN WEEKS ENDED
                                                  ------------------------------
                                                   September 1,    September 2,
                                                       2007            2006
                                                  --------------  --------------
<S>                                               <C>             <C>
Sales                                             $   8,740,882   $   8,390,711
% Sales Increase (Decrease)                                4.17%           4.95%
Gross Margin %                                            23.38%          23.99%
Operating, General and Administrative Expenses:
  Amount                                          $   2,017,106   $   2,007,795
  % of Sales                                              23.08%          23.93%
Net Income                                        $      48,828   $      20,347
</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  thirteen  weeks  ended  September  1,  2007 resulted in a net income in the
amount  of  $48,828.  This is the fifth consecutive quarter in which the Company
made  a profit.  An increase of 4.17% in sales contributed to the success in the
current quarter in spite of the opening of a competing locally owned supermarket
in  an  area in which the Company operates two retail outlets.  Our gross margin
fell to 23.38% of sales from 23.99% for the same quarter last year, but remained
essentially  level  with  the  23.28%  gross  margin  we realized for the fourth
quarter  of  fiscal  2007.

We realized net income in the amount of $20,347 for the thirteen weeks (quarter)
ended September 2, 2006.  During that period sales increased 4.95% over the same
period  of  the prior year.  We began a program during that quarter to introduce
certain  lower-priced  generic  merchandise  to compete with other stores in our
trade  area who offer this option to their customers.  While management believes
that  this  program  was  a  significant  factor contributing to the increase in
sales,  the  increase also was influenced by the closing of a competitor located
in  between  two  of  the  Company's  stores  during  the  fourth quarter of the
Company's  fiscal  2006.  We  also  believe that prevailing high gasoline prices
during  the  quarter contributed to the increase, as customers chose to purchase
more  groceries  for  home  meal  preparation  to  reduce  their  spending  at
restaurants.  However,  the  introduction of certain lower-priced generic goods,
as well as periodic weekly advertised specials run to stimulate sales during the
quarter,  also  led  to  a  reduction  in  our  gross  margin  to  23.99%, which
represented  a  0.46%  reduction compared to the comparable quarter of the prior
year and a 0.19% reduction compared to the gross margin realized for fiscal year
2006.

Management  actively  monitors  both  the  gross margin and the company's retail
pricing  structure  in  an  attempt to maximize profitability.  Management began
working  on the Company's gross margin during the quarter ended August 31, 2002,
at  which  time  the  gross  margin  stood  at


                                        7
<PAGE>
22.79% for the fiscal year ended June 1, 2002.  While occasional improvements in
gross  profit  have  been  seen in recent periods (such as the 0.29% increase we
achieved  for  fiscal  2006 versus 2005), 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.  Accordingly, while management attempts to offset increases
in its cost (such as our recent successes in recovering our principal supplier's
wholesale  price increase during 2005 and a fuel surcharge added by the supplier
during  the  second  quarter  of fiscal 2006), further improvements in the gross
margin  may  not  be  achievable  at this time, and further deterioration in the
Company's  gross  margin  is  possible.  While  the increases in sales in recent
periods  have  more  than  offset  the  impact  of  reduced  gross  margins  on
profitability,  the  gross  margin reductions experienced as a result of pricing
adjustments  to  increase sales during recent quarters provides further evidence
of  this  trend.

Management believes that competitive pressures on the Company, which have led to
the  losses experienced in years prior to fiscal 2007, will continue to increase
over  time  as  a result of competitors opening more new stores in the Company's
trade  area.  These  competitors  have 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 manage the Company's pricing structure to
produce  the  most  favorable  balance between increases in sales, which help to
offset  our fixed operating expenses, and the gross margin, which determines the
profitability  of  the  additional  sales.  We will attempt 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.  Accordingly,  our  cost  of  goods sold as
reflected  in the Company's financial statements is comprised principally of our
direct  wholesale  cost for the acquisition of such inventory, net of applicable
rebates  and  allowances  as  discussed  under  "Inventories"  in  Note 1 of the
financial  statements  presented  in  the  Company's  2007  Annual  Report  to
Shareholders.

Management  has  been  working  to  reduce operating, general and administrative
expenses.  As  reflected  in  the  table  above,  while these expenses increased
$9,311  for  the  current quarter as compared to the same period last year, they
decreased  by  0.85% as a percentage of sales for the quarter.  This improvement
is attributable to the sales increase experienced for the quarter, as well as to
an  approximately 18% reduction in depreciation expense as compared to the first
quarter  of  the  prior  year.  Given  the age and fully depreciated status of a
significant  portion  of  our  physical  equipment,  however, management expects
depreciation  charges  to  return  to more historically consistent levels as the
Company  moves  through  anticipated  replacement  cycles  for this equipment in
future  periods.  Accordingly,  we  expect future periods to continue to reflect
the


                                        8
<PAGE>
overall  increase  in  these expenses that has occurred with the addition of the
Company's  seventh  and  eighth  grocery stores since April 28, 2001, as well as
with  ongoing  increases  in service charges related to our support for customer
debit  and credit card transactions and check cashing activities undertaken as a
means  of maintaining sales.  Management continues to monitor these expenses and
continues  to evaluate the performance of each of our grocery store locations to
determine  their  long-term value to the Company.  Cost increases, combined with
the  relatively  fixed  nature  of certain of our expenses, mean that any future
decrease  in  sales  due to the effects of ongoing competition will likely erode
that  improvement  experienced in these expenses as a percentage of sales during
the current quarter, which could affect the Company's operating profits.  A more
detailed  discussion  of  these  expenses  and  related  changes for the periods
presented  is  set  forth  below  under  the  caption  "Operating,  General  and
Administrative  Expenses."

The  sales increase for the quarter, coupled with the increases in certain items
of other income discussed in more detail below, contributed significantly to the
fact  that  our  net  income  for  the  quarter more than doubled, increasing by
$28,481  as  compared  to  the  net  income  of $20,347 experienced for the same
quarter  of  the  prior  year.  The impact of these favorable items was somewhat
offset by a $3,425 (or 23%) increase in interest expense, reflecting an increase
in  the  weighted  average  interest  rate  applicable to our variable rate debt
during  the  first  quarter of each respective year (from 8.16% to 8.24%) due to
intervening  increases  in the prime rate coupled with the effect of an increase
of $92,968 in our total debt balances. Interest income (principally comprised of
interest on our certificate of deposit) remained relatively flat for the periods
presented.


Sales:
------

Sales for the three months ended September 1, 2007 increased $350,171 (or 4.17%)
over sales for the same quarter last year.  During the current quarter all eight
of  the  Company's  stores  experienced  sales increases as compared to the same
quarter  of the prior year, ranging from 0.21% to 10.69%.  The location with the
10.69%  increase  also  experienced  an increase of 10.66% during the subsequent
month of September (as compared to September of last year), while the two stores
affected by the opening of a locally owned competitor showed a decrease in sales
in  September  2007.  The Company experienced an overall sales increase of 1.64%
for  the  month  of  September  2007.  Management  will  attempt to maintain the
overall  increase  in sales by continuing to offer lower-priced generic goods to
our  customers and continuing with weekly advertised specials (including certain
targeted  promotions)  throughout  the  year.  We  believe  that  each  of these
factors,  as  well  as  the  continuing effects of high gas prices on consumers'
spending  choices  and  the  availability  of  our  check  cashing  program  for
customers,  contributed  to  the  sales increases experienced thus far in fiscal
2008.

Sales  for  the three months ended September 2, 2006 increased $395,622 or 4.95%
compared to the same quarter of fiscal 2005. Six of our stores experienced sales
increases  ranging  from  2.47% to 14.99% (with the 14.99% increase representing
the  achievement of a more normalized level of sales at our eighth grocery store
location,  following  an  extended transitional period after its addition to the
Company  in  December 2003). The two remaining stores experienced sales declines
of  0.34%  and  4.10%.  The 4.10% decline occurred at a location where we had to
replace  certain  store-level  management  employees  in  connection  with  the
significant  theft loss that was discovered during our fiscal 2006 annual audit.
This  location  also  has  been  adversely  impacted  in  recent


                                        9
<PAGE>
periods  by  the fact that another tenant moved out of the shopping center where
it  is  located  during fiscal 2006, as well as by generally unfavorable traffic
pattern  conditions  at  that location.  As discussed above, we believe that the
4.95%  increase  in  sales  for  the  first quarter of the fiscal 2006 period as
compared to the first quarter of fiscal 2005 is attributable to the introduction
of  certain  lower-priced  generic goods and periodic weekly advertised specials
run  to  stimulate  sales  during  the  quarter,  as well as to the closing of a
competitor  located  between two of the Company's stores and the effects of high
gas  prices  on  consumers'  spending  choices.


Gross Margin:
-------------

The  Company's  gross  margin percentage for the three months ended September 1,
2007  decreased  by 0.61%, from 23.99% to 23.38% as compared to the same quarter
of  last  year.  However,  the  gross  margin  for the current quarter reflected
relative  stability  as  compared to the 23.28% gross margin experienced for the
fourth  quarter of the fiscal year ended June 2, 2007.  This decrease versus the
prior  year  period  is  attributable  to  the  impact  of  increased  sales  of
lower-priced  generic  goods  (including  delays  in recovering increases in the
costs  of  certain  of these goods through adjustments to our retail prices), as
well  as  to  the  other  promotional activities described above.  Management is
working  to strategically adjust the prices of the Company's generic merchandise
offerings  to  recover increases in our wholesale costs, to the extent permitted
by  competition.

The  Company's  gross  margin percentage for the three months ended September 2,
2006  decreased  by  0.46% from 24.45% to 23.99% as compared to the three months
ended  August  27,  2005.  This  decrease  was  attributable  to  the program to
introduce  lower-priced  generic  goods  and to the other promotional activities
discussed  above,  as  well  as  to  increased wholesale costs for certain items
(principally  certain  private  label  merchandise)  which we did not succeed in
passing  on  through  adjustments  to  our  retail  prices  during  the quarter.


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

The  Company's  ongoing  operating,  general  and  administrative  expenses  are
comprised  mainly  of  personnel salary and related payroll costs, utilities and
telephone  expenses,  rental  payments  for leased locations, insurance expense,
advertising  and promotion expense, general and office supplies expense, repairs
and  maintenance,  depreciation  expense,  bank  service charges and credit card
fees,  bad  checks  expense,  professional  fees,  and other minor miscellaneous
expenses.  In  accordance  with  EITF  02-16,  advertising rebates received from
suppliers  are  deducted  from  advertising  expense  within  this  category.

The  following  table  details  the  components  of  operating,  general  and
administrative expenses, both in absolute terms and as a percentage of the total
of  all such expenses, for the quarters ended September 1, 2007 and September 2,
2006:


                                       10
<PAGE>
<TABLE>
<CAPTION>
                                           First Quarter   % of First Qtr.  First Quarter   % of First Qtr.
Expense Item                                2007 Amount      2007 Total      2006 Amount      2006 Total
-----------------------------------------  --------------  ---------------  --------------  ---------------
<S>                                        <C>             <C>              <C>             <C>
Payroll                                    $      996,157             49.4  $      999,768             49.8
Utilities & telephone expense                     175,569              8.7         173,516              8.6
Rent                                              162,209              8.0         160,050              8.0
Insurance                                         141,433              7.0         166,010              8.3
Advertising & promotion                           137,082              6.8         132,747              6.6
General & office supplies                         101,345              5.0          92,183              4.6
Repairs & maintenance                              89,659              4.5          86,297              4.3
Depreciation                                       30,834              1.5          37,546              1.9
Bank service charges and credit card fees          37,692              1.9          40,529              2.0
Bad checks                                         44,984              2.2          43,873              2.2
Professional fees                                  42,665              2.1          18,597              0.9
All other misc.                                    57,477              2.9          56,679              2.8
                                           --------------  ---------------  --------------  ---------------
TOTAL                                      $    2,017,106            100.0  $    2,007,795            100.0
                                           ==============  ===============  ==============  ===============
</TABLE>

Operating,  general  and administrative expenses for the quarter ended September
1, 2007 increased overall by only $9,311 over the same quarter last year.  While
payroll  expenses decreased by $3,611 (or 0.4%) versus last year, these expenses
are  expected  to  increase  during  the  next  quarter because of the federally
mandated  increase  in  the  minimum wage that took effect immediately after the
quarter ended.  Store management has been working to reduce these expenses prior
to  the  wage increase through more efficient management of employee scheduling.
Insurance  expense decreased by $24,577 (or 14.8%) as a result of a reduction in
workman's  compensation  premiums  for  our policy period which began on July 1,
2007.  Advertising  and  promotion  expense  increased  $4,335  (or  3.3%),  due
primarily to increased costs associated with certain sales promotions during the
quarter  as  compared  to  the  prior  year  period.  General  & office supplies
increased  $9,162 (or 9.9%) due to increased cost for various items purchased by
the  Company.  Repairs  and  maintenance  increased  $3,362 (or 3.9%) due to our
equipment  requiring  more  upkeep  due  to  its  age.  Conversely, depreciation
expense  was  reduced  by  $6,712  (or  17.9%)  also  due  to  the age and fully
depreciated  status  of  much  of our equipment.  As noted above, however, these
charges  may be expected to return to more historically consistent levels as the
Company  moves  through  anticipated  equipment  replacement  cycles  in  future
periods.  Professional  fees  increased  $24,068  (or  129.4%)  as  a  result of
increased  regulatory  compliance  expense under the Sarbanes-Oxley Act, coupled
with  increased utilization of legal services as compared to the same quarter of
last  year.

Bank  service  charges and credit card fees decreased by $2,837 (or 7.0%) due to
the  improvements  in the Company's cash balances and cash management procedures
as  a  result  of the recent change in our principal banking relationship during
the  fourth  quarter of fiscal 2007 and the associated increase in our revolving
line  of credit.  Bad checks expense increased by $1,111 (or 2.5%), reflecting a
trend  in  the  presentation  and  subsequent  cashing  of  counterfeit  checks.
Management believes that the practice of cashing customers' checks, while posing
risks  for  the  Company (such as the theft loss that was experienced during the
fourth  quarter  of  fiscal


                                       11
<PAGE>
2006  and  recent  increases  in  bad  checks  expense),  is  also  vital to our
competitive  strategy  for maintaining customer traffic and growing sales in the
face  of  the  increased  competition from larger grocery retailers that we have
experienced  in  recent years.  We have installed a check verification system to
reduce  bad  checks  expense  and are investigating a possible upgrade to a more
sophisticated  system  to further combat this problem.  We also have implemented
other  measures  to  improve  our  process  for  managing customer check cashing
activities  and  reducing  associated  expenses  while  continuing to offer this
service  to  our customers, including efforts undertaken during the past year to
improve  training  and  employee  education on this topic and related efforts to
improve  supervision  of the check cashing process by individual store managers.
All  other  expenses  remained  generally  consistent  with last year's figures.

Overall, operating, general and administrative expenses increased by $38,006 (or
1.9%)  for  the  quarter  ended  September 2, 2006 as compared to the comparable
period of 2005.  The most significant increase in these expenses for 2006 was in
the  area  of personnel salary and related payroll costs.  These costs increased
by  $39,882  (or  4.2%),  due  to  an increase in the bonuses awarded or accrued
during  the  quarter  (principally  to  store-level  management  employees)  of
approximately  $6,500  and  increases  in base salaries given to store personnel
during  the  month of April 2006, as well as the addition of one employee to the
Company's  main  office  staff  during  the month of October 2005.  Increases of
$7,489  (or  22.7%)  in bank service charges and credit card fees and $9,756 (or
28.6%) in bad checks expense also significantly influenced the increase in these
expenses  for  the  current  quarter.  The Company's practice of cashing payroll
checks  for  customers  at  its  grocery  store  locations  contributed to these
increases,  but they also are attributable to increases in merchant fees paid by
the  Company as more customers elect to pay for grocery purchases with debit and
credit  cards.  As  discussed  above,  we  believe  that the practice of cashing
customers'  checks,  while  posing  risks  for the Company, is also vital to our
ability to support sales in the face of the ever increasing competition faced by
the  Company.

Other  significant  increases in these expenses for the 2006 quarter included an
increase  of  $18,265 (or 11.8%) in utilities and telephone expense, largely due
to  increasing  energy  costs  in  recent periods which are beyond the Company's
control,  an  increase  of  $8,317  (or  5.3%)  in  insurance expense (due to an
increase  of $10,625 in group insurance partially offset by a decrease of $2,308
in  other  insurance  expense),  a $4,896 (or 3.2%) increase in rent (due to the
recent  renewal  of a lease at one store location at a higher base rent, as well
as  to higher percentage rents based on the sales increases noted above), and an
increase  of  $7,867  (or  16.1%)  in  the  "all  other miscellaneous" component
(composed  primarily  of  a $6,143 increase in vehicle expenses due to increased
vehicle  usage  as  well  as  increased  maintenance  as  we  have stretched our
historical  vehicle  replacement schedules in order to reduce capital spending).
These  increases  were  partially  offset  by decreases in certain components of
these  expenses  as  compared  to  the  first  quarter of the prior fiscal year,
including  a  $28,619  (or  43.3%)  decrease  in  depreciation  (reflecting  a
significant  reduction  in  our purchases of new equipment during fiscal 2006 as
compared to prior years, as well as the fact that some of our older equipment is
now  fully  depreciated),  a  decrease  of $17,386 (or 11.6%) in advertising and
promotion expense (reflecting the fact that we did not run certain programs that
increases  these expenses last year, but also offset by increases in the cost of
the  other  promotions described above during the first quarter of fiscal 2007),
and  a  decrease  in  professional fees of $10,057 (or 35.1%, due principally to
discontinuing  the  services of an outside security firm that was contracted for
one  location  during  the  corresponding  period  of  last  year).


                                       12
<PAGE>
In  accordance  with EITF 02-16, advertising rebates received from suppliers are
deducted  from  advertising  expense  within  this  category.

Interest and Other Income:
--------------------------

Other  income  (not  including interest income) increased $10,686 (or 40.6%) for
the  quarter  ended September 1, 2007 as compared to the quarter ended September
2,  2006.  The  components  of  other income for the quarters ended September 1,
2007  and  September  2,  2006,  apart  from  interest  income, were as follows:

<TABLE>
<CAPTION>
                                                   THIRTEEN WEEKS ENDED
                                           --------------------------------------
Description                                September 1, 2007   September 2, 2006
-----------------------------------------  ------------------  ------------------
<S>                                        <C>                 <C>
Check cashing fees                         $           22,944  $           17,036
Funds for handling money orders/transfers               4,924               2,901
Vendor's compensation from the States of
  Alabama and Georgia for collecting and
  remitting sales taxes on a timely basis               3,724               3,695
Returned check fees                                       377                 555
Revenue related to Fed-Ex shipments/other               5,067               2,163
                                           ------------------  ------------------
TOTAL                                      $           37,036  $           26,350
                                           ==================  ==================
</TABLE>

The  increase  in  check  cashing  fees for the first quarter of 2007 reflects a
$2.00  per check increase in the fee that we charge customers for cashing checks
without  a  grocery  purchase,  which  was  implemented in September 2006. Other
changes  in  the  components of other income presented above relate primarily to
variations  in  the volume of the associated activity or service provided by the
Company  during each of the fiscal quarters presented. Interest income increased
by  only  $10 as compared to the first quarter of fiscal 2007. This increase was
more  than  offset by a $3,425 increase in interest expense (due to increases in
outstanding  debt  as  well  as  increases in the weighted average interest rate
applicable  to  the  Company's  debt  for  the  same  period).

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 thirteen weeks ended September 1,
2007  or  September  2,  2006,  as  a  result  of a continued net operating loss
carryforward  and  the  related full valuation of the Company's net deferred tax
assets.


                                       13
<PAGE>
Inflation:
----------

The Company continues to seek ways to cope with the threat of inflation.  To the
extent  permitted  by  competition, increased costs of goods and services to the
Company  are  reflected in increased selling prices for the Company's goods.  As
discussed above, however, competitive conditions often delay our ability to pass
through price increases experienced at the wholesale level.  When the Company is
forced  to  raise  overall prices of its goods, the Company attempts to preserve
its  market  share  by  competitive  pricing  strategies  that  emphasize
weekly-advertised  specials.


                               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  thirteen  weeks  ending  September  1,  2007, the Company generated
$80,443  in cash flow from operating activities, primarily due to a reduction in
accounts  receivable in the amount of $98,014 and net income of $48,828, coupled
with impact of non-cash depreciation charges in the amount of $30,834, partially
offset  by other changes in the Company's working capital accounts - principally
the  effect  of a $31,435 increase in inventories (generally due to increases in
the  wholesale cost of certain items purchased by the Company) and a $45,431 (or
5.0%)  reduction  in  accounts  payable  versus the prior year period.  Net cash
provided  by  operating  activities  was  partially offset by cash flows used in
financing activities in the amount of $29,650 (consisting of a $12,161 reduction
in  the  balance  of  our  certificate of deposit offset by $41,811 used to fund
purchases  of  property  and  equipment, including the purchase of two vehicles)
during  the  quarter.  We  also decreased the Company's short term borrowings by
$39,356,  paid  $26,583 on the Company's long term debt, redeemed $770 in common
stock  and  borrowed  $35,435  in  connection  with the purchases of the two new
vehicles  during the quarter, resulting in net cash used in financing activities
of  $31,274.  Overall,  the  Company  increased its cash and cash equivalents by
$19,519  during  the  quarter.

During  the  thirteen  weeks  ending  September  2,  2006, the Company generated
$187,454 in cash flow from operating activities, primarily due to the effects of
a  $173,384  increase  in  accounts payable, $37,546 in depreciation (which is a
non-cash  expense)  and net income of $20,347 for the period.  We also generated
$12,038  in  cash  flow  from  investing  activities  (consisting  of  a $14,773
reduction  in the balance of our certificate of deposit offset by $2,735 used to
fund  purchases of property and equipment (principally additional store shelving
at  our  seventh  and  eighth  grocery  store locations) during the quarter.  We
reduced  the  Company's  long-term  debt  by  a  net  amount  of $23,346 and its
short-term debt by a net amount of 13,684 (consisting of a net $13,680 reduction
in  borrowings from affiliated parties and a net $4 reduction in the amount owed
under the Company's line of credit) and redeemed $893 in common stock during the
first  quarter of fiscal 2007.  Overall, the Company increased its cash and cash
equivalents  in  the amount of $161,569 during the first quarter of fiscal 2007.

The  ratio  of current assets to current liabilities was 1.80 to 1 at the end of
the latest quarter, September 1, 2007 compared to 1.63 to 1 on September 2, 2006
and  1.75  to  1  at  the  end  of  the


                                       14
<PAGE>
fiscal  year  ended on June 2, 2007.  Cash, cash equivalents and the certificate
of  deposit constituted 26.94% of the total current assets at September 1, 2007,
as  compared  to  24.50%  of  the  total current assets at September 2, 2006 and
26.31%  at  June  2,  2007.  As  the Company has experienced operating losses in
recent  years,  we  have  been forced to rely more extensively on managing other
elements  of  the  Company's  overall  working capital structure , as well as on
additional  borrowings  under  the  line  of credit, to fund ongoing operations.
During  the  last  two  years,  management  also  has limited additional capital
spending and has been attempting to control costs in other areas to moderate the
effects of these developments on the Company's overall liquidity by reducing the
Company's  working  capital  requirements.

Historically,  the  Company  has  financed  its  working  capital  requirements
principally  through  its  cash  flow  from operations.  Short-term borrowing to
finance inventory purchases is currently provided by the Company's $800,000 line
of  credit  from  its  bank  and  through  borrowings  from  related parties, as
discussed  below.  Effective  May 3, 2007, we entered into a new credit facility
with  Gateway  Bank & Trust, which includes an $800,000 line of credit with a 12
months  term.  The  line  of  credit  contains  a borrowing base provision which
limits  the maximum outstanding indebtedness to forty percent (40%) of the value
of  the  Company's inventory, as measured on a quarterly basis.  As of September
1, 2007, we had $230,000 available to be borrowed under the line of credit.  The
bank  line of credit is secured by the Company's certificate of deposit, as well
as  by  a  security  interest  in  substantially all of our accounts receivable,
inventory,  machines  and  equipment,  furniture  and  fixtures  and by personal
guarantees  of  Michael  A. Richardson and Paul R. Cook, the Company's President
and  CEO  and  Executive Vice President and CFO, respectively.  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.

Short-term  borrowings  as  of  specific  dates  are  presented  below:

<TABLE>
<CAPTION>
                              September 1,   June 2,   September 2,
                                  2007         2007        2006
                              -------------  --------  -------------
<S>                           <C>            <C>       <C>
Michael and Diana Richardson  $      13,096  $ 12,832  $      12,078
Matthew Richardson                    1,488     1,458          1,373
Line of Credit                      570,000   609,650        499,996
                              -------------  --------  -------------
TOTAL                         $     584,584  $623,940  $     513,447
                              =============  ========  =============
</TABLE>

During  the  quarter  ended  September  1,  2007,  we  increased  the  Company's
borrowings  from  related parties by a net amount of $294 (reflecting additional
interest  accrued)  and reduced the outstanding balance under the line of credit
by  a  net  amount  of  $39,650  (reflecting  payments of $39,650 in principal).

The  Company's line of credit with Gateway Bank & Trust 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  Gateway  Bank  &


                                       15
<PAGE>
Trust  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 September 1, 2007, long-term debt consisted of a note payable to Gateway Bank
&  Trust  of  $172,774  incurred  in  May  2007 to refinance the addition of the
Company's  eighth  grocery  store.  In addition, two vehicles were purchased and
financed  through  Tennessee  Valley  Federal  Credit Union with balances due at
September  1,  2007, of $16,062 and $18,025.  Additionally, a vehicle loan, also
financed  with  Tennessee  Valley  Federal  Credit  Union,  had a balance due of
$14,241.  Long-term  debt  as  of  specific  dates  is  presented  below:

<TABLE>
<CAPTION>
                                  September 1,   June 2,   September 2,
                                      2007         2007        2006
                                  -------------  --------  -------------
<S>                               <C>            <C>       <C>
Note payable, Bank, secured by
all inventory, machinery and
equipment, due $6,781 monthly,
interest at prime with 6% floor
through December 2008.            $           -  $      -  $     179,611

Note payable, Bank, secured by
all inventory, machinery and
equipment, due $3,684 monthly,
interest at the prime rate
through April 2012.                     172,774   180,000              -

Vehicle loans; collateralized by
automobiles due  monthly
through July 2010.                       48,328    32,250         19,660
                                  -------------  --------  -------------
                                  $     221,102  $212,250  $     199,271
Less current maturities                  48,395    40,206         73,219
                                  -------------  --------  -------------
                                  $     172,707  $172,044  $     126,052
                                  =============  ========  =============
</TABLE>

The following is a schedule by years of the amount of maturities of all
long-term debt subsequent to September 1, 2007:

<TABLE>
<CAPTION>
           Twelve Months
          Ending September  Amount
          ----------------  -------
<S>                         <C>
               2008         $48,395
               2009          51,918
               2010          50,413
               2011          39,949
               2012          30,427
</TABLE>

During the quarter ended September 1, 2007 retained earnings increased as a
result of the Company's net income for the quarter.


                                       16
<PAGE>
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 September 1,
2007.


Related Party Transactions:
---------------------------

Except as discussed above under "Liquidity and Capital Resources," there were no
material  related  party  transactions  during  the  thirteen  week period ended
September  1,  2007.


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 the following (in addition to those matters
discussed  in  the Risk Factors included in Part I, Item 1A of our Annual Report
on  Form  10-K  for  the fiscal year ended June 2, 2007): changes in the general
economy  or  in  the  Company's  primary  markets,  the effects of ongoing price
competition  from  competitors  (some  of which have 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 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.


                                       17
<PAGE>
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  September  1,  2007 (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
decrease  our  net  income) by approximately $7,600 annually.  Conversely, a one
percent  (1.0%)  decrease  in  the  prime  interest rate would decrease interest
expense  applicable  to  our variable rate debt (and increase our net income) by
approximately  $7,600  annually.

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.


                                       18
<PAGE>
                            AMERICAN CONSUMERS, INC.

                          PART II     OTHER INFORMATION

ITEM 1A.    RISK FACTORS

Information regarding risk factors appears under the caption "Forward-Looking
Statements" in Part I, Item 2 of this Form 10-Q and in Part I, Item 1A of our
Annual Report on Form 10-K for the fiscal year ended June 2, 2007.  There have
been no material changes from the risk factors previously disclosed in our
Annual Report on Form 10-K.

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>
June 2 -
June 30, 2007                110  $    1.00                    -                    -
July 1 -  July
28, 2007                     220       1.00                    -                    -
July 29 -
September 1, 2007            440       1.00                    -                    -
                   -------------  ---------  -------------------  -------------------
TOTAL                        770  $    1.00                    -                    -
                   =============  =========  ===================  ===================
</TABLE>

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

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).


                                       19
<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)


Date:    October 16, 2007            /s/ Michael A. Richardson
       --------------------          --------------------------
                                     Michael A. Richardson
                                     CHAIRMAN OF THE BOARD AND
                                     CHIEF EXECUTIVE OFFICER
                                     (Principal Executive Officer)

Date:    October 16, 2007            /s/ Paul R. Cook
       --------------------          --------------------------
                                     Paul R. Cook
                                     EXECUTIVE VICE PRESIDENT AND
                                     TREASURER
                                     (Principal Financial Officer & Chief
                                     Accounting Officer)


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<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).


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