Headwinds Mount For Carmax, Don’t Count On Higher Share Prices

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ValueWalk

Carmax Buckles Under Strain Of Economic HeadwindsCarmax (NYSE:KMX) put in a good quarter to be sure but the report is rife with evidence inflation is hurting the economy. The company produced a solid increase in revenue versus the year-ago period but the gains are driven almost entirely by price increases. At the retail level, the data is worst. Carmax reports a decline in retail units sold and prices that are still rising at a nearly 40% clip. Based on our view of the inflation situation, used car prices will likely keep climbing and cut deeper into demand. Q1 2022 hedge fund letters, confere…

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