FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * DRAKE RICHARD J   2. Issuer Name and Ticker or Trading Symbol A.C. Moore Arts & Crafts, Inc. [ACMR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O A.C. MOORE ARTS & CRAFTS, INC., 130 A.C. MOORE DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 11/17/2006 (Street) BERLIN, NJ 08009 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/17/2006   M   16,000 A $ 4.5 20,000 D   Common Stock 11/17/2006   M   8,000 A $ 7.69 28,000 D   Common Stock 11/17/2006   M   16,000 A $ 2.88 44,000 D   Common Stock 11/17/2006   M   20,000 A $ 3.94 64,000 D   Common Stock 11/17/2006   S   5,000 D $ 22.01 59,000 D   Common Stock 11/17/2006   S   46,820 D $ 21.82 12,180 D   Common Stock 11/17/2006   S   8,180 D $ 21.77 4,000 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Director Stock Option (Right to Buy)

$ 4.5

11/17/2006

M

16,000

(1)

07/18/2007

Common Stock

16,000

$ 0

0

D

Director Stock Option (Right to Buy)

$ 7.69

11/17/2006

M

8,000

(2)

07/17/2008

Common Stock

8,000

$ 0

0

D

Director Stock Option (Right to Buy)

$ 2.88

11/17/2006

M

16,000

(3)

07/19/2009

Common Stock

16,000

$ 0

0

D

Director Stock Option (Right to Buy)

$ 3.94

11/17/2006

M

20,000

(4)

07/18/2010

Common Stock

20,000

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
DRAKE RICHARD J C/O A.C. MOORE ARTS & CRAFTS, INC. 130 A.C. MOORE DRIVE BERLIN, NJ 08009	X

Signatures

/s/ Amy Rhoades, by Power of Attorney		11/21/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This option vested in three equal annual installments on each of July 18, 1998, July 18, 1999 and July 18, 2000.
(2)	This option vested in three equal annual installments on each of July 17, 1999, July 17, 2000 and July 17, 2001.
(3)	This option vested in three equal annual installments on each of July 19, 2000, July 19, 2001 and July 19, 2002.
(4)	This option vested in three equal annual installments on each of July 18, 2001, July 18, 2002 and July 18, 2003.
Remarks: The filing of this Statement shall not be construed as an admission (a) that the person filing this Statement is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any equity securities covered by this Statement, or (b) that this Statement is legally required to be filed by such person.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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