CarMax Inc. reported $1.40 billion in sales during its fourth quarter, which ended Feb. 28. That is a 25 percent increase from the company's sales of $1.12 billion in the year-ago quarter.
CarMax, of Richmond, Va., operates 58 used-vehicle superstores and seven new-vehicle stores in 27 markets. At stores open for at least a year, used-vehicle unit sales increased by 12 percent in the fourth quarter over the year-ago period.
CarMax says it expects fourth-quarter earnings of about 28 cents a share, about 33 percent more than its year-ago quarterly earnings.
CarMax opened a used-vehicle store in Miami during its fourth quarter. It returned its remaining Mitsubishi franchises, in Kenosha, Wis., and Dulles, Va., to the automaker.
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