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News  ›  GlobeNewswire Inc.

CarMax, Inc. (KMX) Tumbles Again Amid CEO Termination, Preliminary Q3 Results; Securities Class Action Pending – Hagens Berman

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Hagens Berman
CarMax, Inc. (KMX) Tumbles Again Amid CEO Termination, Preliminary Q3 Results; Securities Class Action Pending – Hagens Berman

CarMax announced CEO Bill Nash's termination and released disappointing Q3 preliminary financial results, with a projected comparable store unit decrease of 8-12% and lower-than-expected earnings. A securities class action has been filed alleging misleading investor communications.

Insights
KMX   negative

Stock price tumbled 23%, CEO fired, preliminary Q3 results significantly below analyst expectations, facing potential securities class action lawsuit, and showing signs of market share loss and margin pressure