Used car specialist retail group CarMax, Inc. has raised comparable store used unit sales growth expectations to 7% to 9% and raised earnings per share expectations to 23 cents to 25 cents for the fourth quarter ending February 28, 2005.
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CarMax had recently issued fourth quarter expectations of unit sales growth in the range of 2% to 7% and earnings per share in the range of 19 cents to 23 cents.
“The strengthening in used car sales trends that we experienced during the third quarter has continued thus far in our fourth quarter,” said president and chief executive officer Austin Ligon.
“Consequently, if these trends continue and barring any severe weather interruptions in February, we would expect to see fourth quarter used unit comp growth in the range of 7 to 9% and earnings per share in the range of 23 to 25 cents.
“We are pleased that the continued sales strengthening is broad-based,” added Ligon. “We are seeing stronger sales both in our older and newer superstores, as well as in all our geographic regions.”
