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CarMax sees increased car sales and higher profits
Used-car retailer CarMax posts first quarterly sales rise in over two years, shares jump
CarMax on Thursday reported its first quarterly sales increase in more than two years, in an early sign that the used car market was rebounding from months of slump, sending the retailer's shares up more than 6% before the bell.
CarMax sees increased car sales and higher profits despite lower vehicle prices
With the help of a more stable environment for the used car market, CarMax (NYSE:KMX) said retail used unit sales were up 5.4% in the third quarter and wholesale sales increased 6.3% from last year, contributing to a better-than-expected third quarter.
CarMax sold more used cars than expected as prices fell by about $1,100 each
Shares of CarMax Inc. were rallying toward their first gain in six sessions in early Thursday trading, after the used vehicle seller reported fiscal third-quarter earnings that rose well above expectations,
CarMax Stock Surges as Lower Prices Boost Sales at Used Car Giant
CarMax reported better-than-expected third-quarter results as lower prices helped boost demand. Retail unit sales gained 5.4% year-over-year, and wholesale sales grew 6.3%. CEO Bill Nash said used vehicle valuations have become more stable.
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