| Business Summary | | CarMax
Group
purchases,
reconditions
and
sells
used
vehicles.
In
addition,
CarMax
sells
new
vehicles
under
sales
and
service
agreements
with
DaimlerChrysler,
Nissan,
Mitsubishi,
Toyota,
Ford,
General
Motors
and
BMW.
CarMax
allows
customers
to
purchase
vehicles
the
same
way
they
can
buy
virtually
every
other
retail
product,
using
non-negotiated
low
prices.
CarMax
introduced
this
concept
in
1993,
when
it
opened
its
first
location
in
Richmond,
Virginia. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | CarMax
Group
is
engaged
in
the
sale
of
both
used
and
new
vehicles
utilizing
non-negotiable
prices.
As
of
5/00,
the
Company
operated
40
store
locations.
For
the
three
months
ended
5/31/01,
revenues
rose
27%
to
$796.8
million.
Net
income
rose
93%
to
$6.8
million.
Revenues
reflect
growth
in
new
and
used
car
sales
and
a
more
favorable
sales
mix.
Net
income
also
benefited
from
an
improved
S/G/A
expense
ratio
and
a
reduction
in
interest
expense. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Richard Sharp | Chairman | W. Austin Ligon | Pres | Alan Wurtzel | Vice
Chairman | Thomas Folliard, 35 | Sr.
VP, Store Operations | Keith Browning | VP,
CFO |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|