Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

CarMax Q1 Profit Declines - Quick Facts

RELATED NEWS
Trade KMX now with 
6/21/2012 7:44 AM ET

CarMax, Inc. (KMX: Quote) posted first quarter profit of $120.75 million or $0.52 per share versus $125.5 million or $0.54 per share a year ago.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share. Analysts' estimates typically exclude special items.

Net sales and operating revenues were up to $2.77 billion from $2.68 billion in the prior-year quarter. Analysts expected revenues of $2.81 billion.

Used unit sales in comparable stores were flat for the quarter. Total used unit sales rose 3% in the first quarter.

Wholesale unit sales declined 2%.

"Although comparable store used unit sales were flat, solid execution resulted in strong used and wholesale gross profit per unit and higher CAF income," said Tom Folliard, president and chief executive officer.

Moving ahead, the company plans to open ten superstores in fiscal 2013, double the number opened in fiscal 2012.

Click here to receive FREE breaking news email alerts for CarMax Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks moved sharply higher over the course of the trading day on Friday, more than offsetting the weakness seen on Thursday. In a reversal from the previous session, the markets benefited from some upbeat U.S. economic data as well as comments from a Federal Reserve official. The major averages saw further upside going into the close, with the Dow and the S&P 500 reaching new record highs. As the IRS targeting scandal continues to make headlines, animal-protection charity People for the Ethical Treatment of Animals, or PETA, claims that conservative groups are not the only ones that have faced increased scrutiny from the agency. While the IRS targeting scandal has taken center stage on Capitol Hill on Friday, the results of a new Gallup poll showed that the American public's interest in the story is comparatively low based on historical measures. The poll showed that 54 percent of Americans are following the news that the IRS targeted conservative groups for greater scrutiny "very" or "somewhat" closely.
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.