RICHMOND, Va.--(BUSINESS WIRE)-- CarMax, Inc. (NYSE: KMX), the nation’s largest and most profitable retailer of used autos, is hosting a virtual Analyst Day today. This event focuses on CarMax’s digital transformation, advancement of its omni-channel strategy and the growth trajectory ahead.
“We are excited about our long-term growth opportunities and the excellent position we are in today,” said Bill Nash, CarMax’s president and chief executive officer. “Over the past several years, we have completely transformed our company into a digitally enabled, omni-channel retailer while maintaining our leadership as the top seller and buyer of used autos to and from consumers. We are leveraging our proprietary tech stack, data advantage, nationwide footprint, and culture of operational excellence to deliver a best-in-class experience regardless of how customers want to transact. With our core strengths across used auto retail, wholesale and finance as a foundation, we are also expanding our reach into the broader used auto ecosystem. We have set ambitious long-term growth targets and are confident in our ability to accelerate market share gains. We are excited about the opportunities ahead of us as we continue to create sustainable value for all of our stakeholders.”
Event Overview
During today’s event, we will focus on why CarMax is positioned to win now and in the future, including:
In addition, presenters will provide insights into:
Long-Term Targets
Over the next five years, we expect our diversified model, the scale of our operations, our investments and omni-channel strategy to provide a rock-solid foundation for further growth. As such, we are introducing the following long-term targets:
Webcast Information
CarMax’s Analyst Day presentation will be webcast with accompanying presentations starting at 9:00 a.m. Eastern Time (ET) and is expected to conclude at 11:30 a.m. ET. The webcast and presentation materials can be accessed through CarMax’s investor relations website at investors.carmax.com. A replay of the webcast will be available following the event.
About CarMax
CarMax, the nation’s largest retailer of used autos, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. CarMax also provides a variety of vehicle delivery methods, including home delivery, contactless curbside pickup and appointments in its stores. During the fiscal year ending February 28, 2021, CarMax sold more than 750,000 used vehicles and more than 425,000 wholesale vehicles at its in-store and virtual auctions. In addition, CarMax Auto Finance originated more than $6 billion in receivables during fiscal year 2021, adding to its near $14 billion portfolio. CarMax has more than 220 stores, approximately 27,000 Associates, and is proud to have been recognized for 17 consecutive years as one of the Fortune 100 Best Companies to Work For®. For more information, visit www.carmax.com.
Forward-Looking Statements
We caution readers that the statements contained in this release about our future business plans, operations, challenges, strategies, long-term targets, opportunities or prospects, including without limitation any statements or factors regarding strategic transactions, sales, market share, margins, expenses, liquidity, capital expenditures, revenue or earnings, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “positioned,” “predict,” “should,” “will” and other similar expressions, whether in the negative or affirmative. Such forward-looking statements are based upon management’s current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from anticipated results. Among the factors that could cause actual results and outcomes to differ materially from those contained in the forward-looking statements are the following:
For more details on factors that could affect expectations, see our Annual Report on Form 10-K for the fiscal year ended February 28, 2021, and our quarterly or current reports as filed with or furnished to the U.S. Securities and Exchange Commission. Our filings are publicly available on our investor information home page at investors.carmax.com. Requests for information may also be made to the Investor Relations Department by email to investor_relations@carmax.com or by calling (804) 747-0422 x7865. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
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Stacy Frole, Vice President, Investor Relations investor_relations@carmax.com (804) 747-0422 ext. 7865
Media: pr@carmax.com, (855) 887-2915
Source: CarMax, Inc.