Core Viewpoint - The recent significant stock price movement of CarMax (KMX.US) is influenced by multiple factors including overall industry weakness, pressured profit expectations, market sentiment fluctuations, and shifts in institutional perspectives [1]. Stock Performance - As of February 12, the stock price of CarMax has further declined, reflecting a substantial single-day drop and increased volatility, indicating market sensitivity to retail used car transaction volumes, macroeconomic conditions, and interest rate policies [2]. Industry Sector Situation - The automotive retail sector is experiencing overall weakness, raising concerns about slowing industry demand, which is exerting downward pressure on stocks like CarMax [3]. Operational Performance - The market holds a cautious outlook on CarMax's quarterly performance, facing challenges such as weak retail demand and high financing costs, which may squeeze net profit margins. Previous financial reports indicated a year-over-year revenue decline, with a significant drop in adjusted earnings per share expectations, heightening investor concerns about short-term profitability [4]. Institutional Perspectives - Recent institutional rating data shows a low proportion of "buy" ratings for CarMax, with most institutions holding a "neutral" stance and some recommending a sell. The average target price is below the current stock price, indicating a conservative outlook on short-term prospects [5].

CarMax Names a New CEO. He's Not a Car Guy. - Barron'sSkip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.# CarMax Names a New CEO. He's Not a Car Guy.By [Nate Wolf]ShareResize---ReprintsIn this article[KMX][CVNA]Keith Barr, a veteran hotel executive, is t ...

Financial Performance - The latest financial report for CarMax (KMX.US) was released on December 18, 2025, with a consensus expectation of total revenue at $5.711 billion, reflecting a year-over-year decline of 5.48% [1] - The adjusted earnings per share (EPS) expectation was $0.39, indicating a year-over-year decrease of 36.10% [1] - The report highlighted weak retail demand, pressure from financing costs, and resilience in the wholesale channel [1] Stock Performance - In January 2026, CarMax's stock price experienced significant fluctuations, with a notable increase of 5.12% on January 6, reaching $41.30, and a further rise of 1.37% on January 9, closing at $45.23, despite a 35.35% decrease in trading volume on that day [2] - These stock movements reflect market reactions to retail used car transaction volumes and the macroeconomic environment [2] - As of February 12, 2026, there were no major upcoming events disclosed regarding CarMax, such as new financial report schedules or company actions, with regular events like quarterly earnings releases subject to official announcements [2]

Core Viewpoint - CarMax has appointed Keith Barr as the new CEO to lead the company through a turnaround amid declining demand for used cars [1] Company Overview - CarMax is facing challenges in reselling vehicles purchased at higher prices due to a nationwide decrease in demand as consumers opt to retain their older cars for longer periods [1] - The company has implemented various initiatives, including job cuts, to mitigate the impact of lower demand and margin pressures caused by inflation [1] Leadership Changes - Keith Barr, previously the CEO of InterContinental Hotels Group, will officially take over as CEO on March 16 [1] - The appointment follows the resignation of former CEO Bill Nash in November, which was part of a broader leadership shake-up within the company [1] - Interim CEO David McCreight acknowledged the need for change within CarMax during the third quarter [1]

The used-car retailer names IHG Hotels & Resorts veteran Keith Barr as its next CEO. ...

Core Viewpoint - CarMax has appointed Keith Barr as the new President and Chief Executive Officer, effective March 16, 2026, to lead the company through a critical growth phase [1]. Leadership Changes - Keith Barr will take over as CEO, succeeding David McCreight, who will return to his role as an independent Director of the Board [1]. - Tom Folliard will continue as Interim Executive Chair of the Board until the Annual Meeting in June 2026, after which he will resume his role as non-executive Chair [1]. Keith Barr's Background - Keith Barr has over 25 years of executive leadership experience in global hospitality and consumer marketing, most recently serving as CEO of InterContinental Hotels Group (IHG) from 2017 to 2023 [1]. - Under Barr's leadership, IHG expanded its global portfolio and improved operational efficiency, customer satisfaction, and brand loyalty [1]. - Barr has a proven track record in digital transformation and enhancing customer experiences, which aligns with CarMax's goals [1]. CarMax's Market Position - CarMax is the largest retailer of used autos in the U.S., known for its integrity, honesty, and transparency in automotive retail [1]. - In the fiscal year ending February 28, 2025, CarMax sold approximately 790,000 used vehicles and 540,000 wholesale vehicles at auctions [1]. - The company originated over $8 billion in auto loans during fiscal 2025, contributing to a nearly $18 billion portfolio [1]. Future Outlook - Barr emphasized the opportunity in the fragmented used vehicle market, stating that CarMax is well-positioned to meet modern consumer needs through both online and in-person channels [1]. - The company aims to leverage its transparent pricing and extensive inventory to enhance customer value and service [1].

Core Viewpoint - Keith Barr, the former CEO of IHG Hotels & Resorts, is expected to leverage his digital expertise in the used-car retail sector [1] Group 1 - Keith Barr's appointment is anticipated to enhance the digital capabilities of the used-car retailer [1] - The company aims to improve customer experience through digital transformation initiatives under Barr's leadership [1]

Group 1 - CarMax Inc. is recognized as one of the best used-car stocks to buy, according to hedge funds, as it aims to repair its business through increased advertising spending [1] - The company is facing a significant sales slump that has resulted in a nearly 50% reduction in its market value [1] - Interim CEO David McCreight expressed optimism about immediate pricing and marketing actions to improve sales performance, although these actions may pressure earnings in the near term [2] Group 2 - CarMax is targeting $150 million in cost cuts, primarily focusing on general and administrative expenses, which will include layoffs affecting nearly a third of its workforce [2] - Truist Securities raised its price target for CarMax to $37 from $35, maintaining a Hold rating, in response to third-quarter results that met estimates [3] - The company operates as the largest U.S. used vehicle retailer with over 250 locations and a "no-haggle" pricing model, specializing in certified used cars, financing, and direct consumer purchases [4]

Core Insights - CarMax, Inc. has been recognized by TIME Magazine as one of America's Most Iconic Companies, celebrating its commitment to a transparent and customer-centric experience in the used car retail industry [1][3] Company Overview - CarMax is the largest retailer of used cars in the United States, with 255 stores nationwide and over 28,000 associates [6] - The company has been recognized for 21 consecutive years as one of the Fortune 100 Best Companies to Work For [6] Innovation and Customer Experience - CarMax transformed the car buying and selling process with its "no-haggle" pricing model, making it a straightforward and honest experience for customers [2][6] - Customers have the flexibility to shop online, in-store, or a combination of both, with options for express pickup or home delivery within a 60-mile radius of select stores [6][7] Recognition Criteria - The recognition by TIME and Statista was based on a multi-dimensional methodology that evaluated brand recognition, cultural influence, emotional connection, resilience, and "Americanness" [3][6] - The evaluation involved an independent survey of over 10,000 members of the U.S. general population conducted in the summer of 2025 [3] Customer Assurance - CarMax offers a 10-day Money Back Guarantee and a 30-day limited warranty with no mileage limitation and no deductible, providing peace of mind to customers [6][7] - The company allows customers to receive an online offer for their vehicle in two minutes or less, valid for seven days, and offers at-home pickup for sellers [8]

Core Insights - BML Capital Management disclosed a new position in CarMax, acquiring 155,000 shares valued at approximately $5.99 million [1][2] - The new position represents 5.18% of BML Capital's reported 13F assets under management [3] Company Overview - CarMax is a retailer of used vehicles in the United States, utilizing a nationwide footprint and a multi-channel sales approach [6] - The company reported a revenue of $25.94 billion and a net income of $457.84 million [4] - As of February 2, CarMax's market capitalization was $6.58 billion, with shares priced at $44.78, reflecting a 46.84% decline over the past year [3][4] Financial Performance - CarMax's third-quarter results indicated a decline in retail used unit sales by 8% year over year and comparable sales down 9% [11] - Earnings per share fell to $0.43 from $0.81 a year earlier, with gross profit per retail unit declining to $2,235 [11] - Despite lower volumes, CarMax generated $590 million in gross profit and $174.7 million in income from CarMax Auto Finance, which grew over 9% year over year [12] Strategic Initiatives - Management is targeting at least $150 million in SG&A run-rate savings by fiscal 2027 while continuing aggressive stock buybacks, having repurchased $201.6 million of stock in the last quarter [12] - BML Capital's investment in CarMax indicates a structural choice to allocate capital to a cash-generative retailer amidst a portfolio dominated by early-stage biotech and asymmetric growth names [10]