Leadership Changes - CarMax has announced leadership changes to strengthen its business, appointing David McCreight as Interim President and CEO, while Tom Folliard becomes Interim Executive Chair of the Board [1][5] - Bill Nash, the current CEO, is stepping down from his position and the Board [1] Search for Permanent CEO - The search for a permanent CEO is underway, supported by Russell Reynolds Associates and overseen by the Compensation and Personnel Committee [2] Financial Outlook - CarMax provided a preliminary financial outlook for the third fiscal quarter ending November 30, 2025, indicating a decrease in comparable store used unit sales by 8%-12% [6] - Net earnings per diluted share are expected to be between $0.18 and $0.36, which includes $0.09 of non-recurring expenses related to the leadership change and workforce reductions [6] - The company anticipates an increase in marketing spend year-over-year to support a new brand positioning launch [7] Company Background - CarMax is the largest retailer of used autos in the U.S., having sold approximately 790,000 used vehicles and 540,000 wholesale vehicles during the fiscal year ending February 28, 2025 [13] - The company originated over $8 billion in auto loans during fiscal 2025, contributing to a nearly $18 billion portfolio [13]

Core Points - ClaimsFiler reminds investors of the deadline to file lead plaintiff applications in a class action lawsuit against CarMax, Inc. for securities purchased between June 20, 2025, and September 24, 2025 [1] - The lawsuit alleges that CarMax and certain executives failed to disclose material information, violating federal securities laws [3] Financial Performance - 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 for the second quarter of fiscal year 2026 [3] - Net earnings per diluted share were $0.64, down from $0.85 a year ago [3] Market Reaction - Following the announcement of the financial results, CarMax's share price fell by $11.5, or 20.07%, closing at $45.60 per share on September 25, 2025 [4] Legal Information - The case is titled Cap v. CarMax, Inc., No. 25-cv-03602, and is pending in the United States District Court for the District of Maryland [4]

Core Viewpoint - CarMax, Inc. is facing a class action lawsuit due to alleged misrepresentation of its financial health and demand for used cars during the period from March 5, 2024, to October 8, 2025 [1][3] Financial Performance - CarMax reported disappointing financial results for Q2 of fiscal year 2026, with a net income of approximately $95.4 million, down from $132.8 million in the previous year [3] - The company experienced a 5.4% decline in retail used unit sales, a 6.3% decline in comparable store used unit sales, and a 2.2% decline in wholesale units [3] - The decline in sales was attributed to a "pull forward" in demand due to the announcement of U.S. tariffs on cars, which led to customers purchasing vehicles before the tariffs took effect [3] Stock Market Reaction - Following the announcement of disappointing financial results, CarMax's stock price fell by $11.45 per share, approximately 20%, from $57.05 on September 24, 2025, to $45.60 on September 25, 2025 [3] Legal Context - Investors who purchased CarMax securities during the class period have until January 2, 2025, to file a lead plaintiff motion [1] - The Portnoy Law Firm is representing investors in this class action and is offering complimentary case evaluations [2][4]

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. for allegedly misleading investors about its growth prospects during the fiscal year 2026, following disappointing financial results that led to a significant drop in stock price [1][2][3]. Group 1: Allegations and Financial Impact - CarMax's stock price fell by $11.5 per share, or 20.07%, closing at $45.60 on September 25, 2025, after the company reported disappointing second-quarter results for fiscal year 2026 [2]. - The following day, the stock experienced an additional decline of 1.62%, closing at $44.86 [2]. - Plaintiffs claim that CarMax overstated its growth prospects, attributing earlier growth to temporary factors such as customer speculation regarding tariffs [3]. Group 2: Class Action Participation - Shareholders interested in serving as lead plaintiffs must submit their papers to the court by January 2, 2026 [4]. - Participation in the class action is not required to be eligible for recovery; shareholders can remain absent class members if they choose [4]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is won [5].

Core Viewpoint - The Law Offices of Frank R. Cruz is encouraging shareholders of CarMax, Inc. (KMX) to inquire about a potential securities fraud class action lawsuit [1] Group 1 - The law firm is actively seeking shareholders who may have been affected by the alleged securities fraud [1] - The announcement indicates a growing concern regarding the company's financial practices and transparency [1] - Shareholders are urged to gather information and consider their legal options in light of the potential class action [1]

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired CarMax, Inc. ("CarMax†or the "Company†) (NYSE: KMX) securities between June 20, 2025 and September 24, 2025, inclusive (the "Class Period†). CarMax investors have until January 2, 2026 to file a lead plaintiff motion. IF YOU SUFFERED A LOSS ON YOUR CARMAX, I. ...

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. for alleged violations of federal securities laws during the specified class period from June 20, 2025, to September 24, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that CarMax's executives made false and misleading statements regarding the company's growth prospects, which were overstated due to temporary factors related to customer behavior influenced by tariff speculation [3]. - The complaint alleges that these misleading statements resulted in material misrepresentation about CarMax's business operations and future prospects, leading to investor damages when the truth was revealed [3]. Group 2: Class Action Participation - Investors who purchased CarMax securities during the class period are encouraged to join the lawsuit, with a deadline of January 2, 2026, to request appointment as lead plaintiff [4]. - Participation in any recovery does not require serving as the lead plaintiff, allowing more investors to potentially benefit from the outcome [4]. Group 3: Legal Representation - The law firm Bronstein, Gewirtz & Grossman operates on a contingency fee basis, meaning they will only collect fees if the lawsuit is successful, thus minimizing upfront costs for investors [5]. - The firm has a history of recovering substantial amounts for investors in similar cases, indicating a strong track record in securities fraud class actions [6].

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. for securities fraud, affecting investors who purchased shares between June 20, 2025, and September 24, 2025, with a deadline for filing a lead plaintiff motion set for January 2, 2026 [1][2]. Financial Performance - On September 25, 2025, CarMax reported its second quarter 2026 financial results, revealing a revenue decline of 6.0% year-over-year, a 7.2% drop in total retail used vehicle revenues, and a 5.6% decrease in total gross profit. The company attributed these declines to inventory adjustments and a $71.3 million increase in loan loss provisions [3]. Stock Market Reaction - Following the financial results announcement, CarMax's share price fell by $11.45, or 20.1%, closing at $45.60 per share on September 25, 2025, resulting in significant losses for investors [4]. Allegations in the Lawsuit - The lawsuit alleges that CarMax's management made materially false and misleading statements regarding the company's growth prospects, claiming that earlier growth was due to temporary factors related to tariff speculation. The defendants are accused of failing to disclose adverse facts about the company's business and operations, leading to misleading positive statements [5].

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. for failing to disclose material information during a specified period, leading to significant losses for investors [3][4]. Summary by Sections Class Action Lawsuit Details - Investors who suffered substantial losses from purchasing CarMax securities between June 20, 2025, and September 24, 2025, have until January 2, 2026, to file lead plaintiff applications [1]. - The lawsuit is currently pending in the United States District Court for the District of Maryland [1]. 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 company's net earnings per diluted share fell to $0.64 from $0.85 a year ago [3]. Stock Price Impact - 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].

Nov 4, 2025 6:00 PM Eastern Standard Time KMX ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of CarMax, Inc. Investors Share NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit - Jason Cap v. CarMax, Inc. - has been filed on behalf of investors who acquired CarMax, Inc. ("CarMax†or the "Company†) (NYSE:KMX) securities during the period of June 20, 2025 through September 24, 2025, inclusive ("the Class Period†). If y ...