RICHMOND, Va. - CarMax Inc. said its sales and operating revenues rose 10 percent to $2.12 billion in the second quarter compared with a year ago. The company said net earnings increased 20 percent to $65 million.
The public auto retailer's second quarter ended Aug. 31. During the quarter, CarMax: Sold its Chrysler-Jeep-Dodge new-vehicle dealership in Orlando, Fla. That sale contributed to CarMax's 15 percent drop in new-vehicle unit sales and 14 percent decline in new-vehicle revenues from the year-ago quarter. The Richmond company sold 4,365 new vehicles in the quarter. Opened a used-car dealership in Torrance, Calif., bringing to seven the number of CarMax stores in the Los Angeles area. Increased used-vehicle unit sales and revenues 11 percent from the year-ago quarter. CarMax retailed 96,102 used cars and trucks in the quarter.
This month, CarMax opened its 84th used-vehicle store, in Gastonia, N.C.