CarMax Sees Slowing Growth in Used-Car Sales
CarMax (NYSE: KMX) has done a good job of profiting from the rise in demand for used cars in recent years, and its approach to the market gives its customers an ability to choose from a wide selection of vehicles across a nationwide network of dealers. The company has even been able to overcome hurricane-related challenges to keep its fundamentals strong, and solid conditions in the U.S. economy point toward continued favorable tailwinds for the auto market generally.
Coming into Thursday's fiscal third-quarter report, CarMax investors weren't sure what to expect from the auto retailer, with some company-specific concerns seeping into a generally favorable outlook for the industry. Results showed ongoing growth but at a slightly slower space than many shareholders had hoped to see during the period. Let's look more closely at CarMax to see what it said and what's ahead in 2018.
Source: Fool.com