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Filing in Focus: CarMax 8-K, December 20, 2013
CarMax Inc. (KMX) announced its financial results for third fiscal quarter of 2013, reporting increases in both revenue and earnings. Revenue increased from $2.6B a year ago to $2.9B, while earnings rose from $94.7M to $106.5M. Shareholders saw a $0.06 per share increase in earnings, from $0.41 per share last year to $0.47 per share. Total used sales increased 15%, total wholesale unit sales improved 4%, and comparable-store used units increased 10% from a year ago. During third quarter the company opened three new superstores and shortly after the quarter’s close opened three more for a total of six new superstores. The company still has $400M remaining in an authorized share repurchase program, which will continue to return value to shareholders.