RICHMOND, VA – For the fourth quarter ending February 28, CarMax, Inc. says it raised comparable store used-unit sales growth expectations to a range of 7-9 percent and raised earnings per share expectations to a range of 23-25 cents. On December 17, 2004, CarMax had issued fourth quarter expectations of comparable store used-unit sales growth in the range of 2-7 percent and earnings per share in the range of 19-23 cents.
"The strengthening in used-car sales trends that we experienced during the third quarter has continued thus far in our fourth quarter," said Austin Ligon, president and chief executive officer. "Consequently, if these trends continue and barring any severe weather interruptions in February, we would expect to see fourth quarter used unit comp growth in the range of 7-9 percent and earnings per share in the range of 23- 25 cents. We are seeing stronger sales both in our older and newer superstores, as well as in all our geographic regions."
CarMax will issue fourth-quarter and fiscal year-end comparable store sales on Fri., March 4, before the opening of the New York Stock Exchange.