Core Insights - CarMax reported a decrease in both retail and wholesale used vehicle sales for the third quarter, indicating a need for strategic changes despite its strong brand and infrastructure [3][4][5]. Sales Performance - Combined retail and wholesale used vehicle unit sales were 297,160, a decrease of 7.2% from the prior year's third quarter [4]. - Total retail used vehicle unit sales decreased 8.0% to 169,557 compared to the prior year's third quarter [5]. - Total wholesale vehicle unit sales decreased 6.2% to 127,603 versus the prior year's third quarter [6]. Revenue Analysis - Total retail used vehicle revenues decreased 7.0% compared to the prior year's third quarter, primarily due to the decrease in retail used units sold [5]. - Total wholesale revenues declined 6.3% compared to the prior year's third quarter, driven by the decrease in wholesale units sold [6]. - Other sales and revenues decreased by 9.2%, or $15.2 million, compared with the third quarter of fiscal 2025 [7]. Profitability Metrics - Total gross profit was $590.0 million, down 12.9% versus last year's third quarter [8]. - Retail used vehicle gross profit decreased 10.8%, with gross profit per used unit at $2,235, down $71 from last year's record [8][10]. - Wholesale vehicle gross profit decreased 16.9%, reflecting lower wholesale unit volume and gross profit per unit, which declined $116 to $899 per unit [9]. Operational Changes - SG&A expenses increased 1.0% to $581.4 million, driven by increased advertising spend and restructuring charges related to leadership changes [11][10]. - The company is on track to achieve SG&A reductions of at least $150 million in exit rate savings by the end of fiscal 2027 [12]. Financing and Investment - CarMax Auto Finance (CAF) income increased 9.3% to $174.7 million, aided by a gain on sale of $27.0 million from a securitization transaction [14][13]. - The weighted average contract rate for CAF was 11.0%, down from 11.2% in the prior year's third quarter [15]. Shareholder Returns - The company repurchased 4.6 million shares of common stock for $201.6 million during the third quarter [16]. - As of November 30, 2025, $1.36 billion remained available for repurchase under the outstanding authorization [16]. Future Outlook - The company anticipates improved sales performance trends through enhanced price competitiveness and increased marketing spend in the fourth quarter [21].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased CarMax, Inc. securities between June 20, 2025, and November 5, 2025, of the January 2, 2026, deadline to become lead plaintiffs in a securities class action lawsuit [1]. Group 1: Class Action Details - Investors who bought CarMax securities during the specified Class Period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and those wishing to serve as lead plaintiffs must act by January 2, 2026 [3]. - The lawsuit alleges that defendants made materially false and misleading statements regarding CarMax's growth prospects, which were overstated due to temporary market conditions [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions, highlighting its own achievements in this area [4]. - The firm has secured significant settlements for investors, including over $438 million in 2019 alone, and has been recognized as a leader in the field of securities class action litigation [4].

NEW YORK, Dec. 17, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of CarMax, Inc. (NYSE: KMX). Shareholders who purchased shares of KMX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/carmax-inc-loss-submission-form/?id=180536&from=3 CLASS PERIOD: June 20, 2025 to November ...

New York, New York--(Newsfile Corp. - December 17, 2025) - Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against CarMax, Inc. (NYSE: KMX) and certain of the Company's senior executives for securities fraud after a significant stock drop resulting from the potential violations of the federal securities laws. If you invested in CarMax, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/carmax-inc-class-ac ...

RADNOR, Pa., Dec. 17, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that an amended securities class action lawsuit has been filed against CarMax, Inc. ("CarMax") (NYSE: KMX) which expands the class period to include those who purchased or otherwise acquired CarMax securities between June 20, 2025, and November 5, 2025, inclusive (the "Class Period"). The lead plaintiff deadline is January 2, 2026. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:If you ...

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

CarMax, Inc. (NYSE:KMX) will release earnings results for its third quarter before the opening bell on Thursday, Dec. 18.Analysts expect the Richmond, Virginia-based company to report quarterly earnings at 32 cents per share, down from 81 cents per share in the year-ago period. The consensus estimate for CarMax's quarterly revenue is $5.63 billion, compared to $6.22 billion a year earlier, according to data from Benzinga Pro.On Sept. 25, CarMax reported worse-than-expected second-quarter financial results.C ...

NEW YORK, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against CarMax, Inc. (NYSE: KMX) and certain of the Company’s senior executives for securities fraud after a significant stock drop resulting from the potential violations of the federal securities laws. If you invested in CarMax, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit. In ...

Core Viewpoint - Investors with substantial losses in CarMax, Inc. have until January 2, 2026, to file lead plaintiff applications in a securities class action lawsuit due to alleged failure to disclose material information during the Class Period from June 20, 2025, to November 5, 2025 [1][3]. Summary by Sections Lawsuit Details - CarMax and certain executives are accused of violating federal securities laws by not disclosing important information during the Class Period [3]. - The lawsuit is identified as Cap v. CarMax, Inc., No. 25-cv-03602 [4]. Financial Performance - On September 25, 2025, CarMax reported a 5.4% decrease in retail unit sales, a 6.3% decrease in comparable store unit sales, and a 2.2% decrease in wholesale units [3]. - The net earnings per diluted share were reported at $0.64, down from $0.85 a year ago [3]. Market Reaction - Following the financial results announcement, CarMax's share price dropped by $11.5, or 20.07%, closing at $45.60 per share on September 25, 2025 [4].

Core Viewpoint - The article discusses a securities class action lawsuit against CarMax, Inc. alleging that the company misled investors about its business stability and growth prospects, resulting in significant stock declines [2][4]. Summary by Sections Lawsuit Details - The lawsuit claims that CarMax and its executives concealed critical information regarding the company's operational challenges, leading to two major stock crashes [2][5]. - The class period for the lawsuit is defined as June 20, 2025, to November 5, 2025 [3]. Allegations - The complaint identifies two main issues that allegedly inflated the stock price: - **Unsustainable Demand**: CarMax reported strong growth for Q1 2026 but failed to disclose that this was due to a temporary surge in customer demand driven by anticipated tariffs [4]. - **CarMax Auto Finance Risk**: Management assured investors about the stability of their loan reserves, which later revealed a significant increase in loan loss provisions amounting to $142 million, a 40% sequential increase [4]. Impact on Business - The lawsuit highlights a distortion in core retail demand that could not be maintained in subsequent quarters, leading to a drastic cut in forward guidance and signaling systemic weaknesses in business operations [4]. - The stock experienced a 20% decline following the announcement of disappointing Q2 results, which included a 24% drop in net EPS and the unexpected loan loss provision [4]. Investor Actions - Investors who purchased CarMax securities during the class period and suffered losses are encouraged to contact Hagens Berman to discuss their rights and potential involvement in the lawsuit [5][6].