CarMax Shares Up 1.4% In Premarket After Earnings Beat

By Ciara LinnaneMarketsMarketWatch Pulse

CarMax Inc. shares jumped 1.4% in premarket trade Thursday, after the nation's biggest retailer of used cars beat earnings and sales estimates for the fourth quarter. Richmond, Va.-based CarMax said it had net income of $152.6 million, or 81 cents a share, in the quarter, up from $141 million, or 71 cents a share, in the year earlier period. Sales rose 9.3% to $4.05 billion. The FactSet consensus was for EPS of 79 cents and sales of $3.938 billion. The company said it expects to open 15 stores in fiscal 2018 and 13 to 16 stores in fiscal 2019. Shares have fallen 12% in the year to date, while the S&P 500 has gained 5%.

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