RICHMOND, Va. -- CarMax Inc. revised its sales forecast upward for its third quarter, which ends Nov. 30. The company says it expects sales at its stores that have been open for at least a year to grow 2 percent to 3 percent during the quarter. It projects its quarterly earnings per share at 17 cents to 18 cents.
The company had said in September that it expected sales at stores open for at least a year to drop 2 percent to 8 percent in the quarter. It had predicted quarterly earnings per share of 12 cents to 17 cents.
CarMax says it is recovering some sales it lost at stores in Southeast states because of tropical storms in August and early September. The company operates 56 used-vehicle stores and 10 new-car franchised dealerships in the United States.