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CarMax, Inc. is a used vehicle retailer based in the United States. It operates two business segments: CarMax Sales Operations and CarMax Auto Finance. The company began as a side business of Circuit City, opening its first location in September 1993 in Richmond, Virginia. As of January 2025, CarMax operates 253 locations. [3]
CarMax auto superstore in Raleigh, North Carolina. CarMax is a used car auto superstore concept developed in 1991 at Circuit City by Austin Ligon, then Circuit City's Senior VP of Planning, and Rick Sharp, then Circuit City CEO. The goal of CarMax was to revolutionize used car retailing through a combination of large selection (400+ used cars ...
Used-car dealer CarMax (NYS: KMX) reported double-digit net revenue growth in its second-quarter earnings. However, just after earnings were released, the shares sank 11%. Let's try to figure out ...
The team rejected several proposed names, including "Honest Rick’s Used Cars" and "Sharp Motors" before choosing CarMax. [2] Co-founded by Sharp in 1993, CarMax grew to $12.5 billion in annual sales at approximately 135 locations by 2013. [2] Sharp hired Thomas J. Folliard as one of CarMax's first employees.
CarMax's fiscal 2025 first-quarter earnings fell year over year, but the used car dealer's business is still more attractive than Carvana's.
Margins matter. The more CarMax (NYS: KMX) keeps of each buck it earns in revenue, the more money it has to invest in growth, fund new strategic plans, or (gasp!) distribute to shareholders.
The CARFAX vehicle history report is the company's best-known product. A CARFAX Report can provide information about the number of owners a used car has had, accidents it has been in, title issues, whether it was a fleet vehicle, and its maintenance record, among other aspects of its history.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 887 13F ...