RICHMOND, Va. — Used-car retailer CarMax Inc. reported lower sales and earnings for its first quarter, which ended May 31. Net income was off 3 percent from the same period a year ago, to $28.7 million. Sales dropped 17 percent to $1.8 billion. Gross profit per retail unit increased by $347 per unit to $2,911, and gross profit per used vehicle increased $259, to $2,001.
CarMax sales, profits fall
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