CarMax's stock slides 9% after earnings reflect pressures on used car industry

CarMax Inc.’s stock KMX, -9.29% slid 9% Thursday, after the used car retailer’s second-quarter earnings fell from a year ago amid continued pressure in the sector.

“We continue to drive sequential improvements in our business despite persistent widespread pressures across the used car industry,” CEO Bill Nash said in a statement. ” Our performance in the first half of the year has us on track to deliver on our goal of low-single-digit gross profit growth to lever SG&A for the full year, even when excluding the benefits from this year’s legal settlement.”

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CarMax's stock slides 6.5% after earnings reflect pressures on used car industryCarMax posted earnings that were lower than a year ago as the CEO said the used car sector remains under pressure.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks making the biggest moves premarket: Micron, CarMax, GameStop and moreThese are the stocks posting the largest moves in premarket trading.
Source: CNBC - 🏆 12. / 72 Read more »

CarMax falls on earnings miss, as used vehicle sales slow By Investing.comCarMax falls on earnings miss, as used vehicle sales slow
Source: Investingcom - 🏆 450. / 53 Read more »

These Stocks Are Moving the Most Today: Micron, Peloton, Workday, Nike, CarMax, and MoreFiscal fourth-quarter revenue at chip maker Micron falls sharply from a year earlier, Peloton stock surges after signing a five-year partnership with...
Source: MarketWatch - 🏆 3. / 97 Read more »