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CarMax profit drops for 4th straight quarter
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CarMax profit drops for 4th straight quarter
On the Dash: CarMax’s used-car profit fell for a fourth straight quarter, despite an $8 billion revenue beat. Shares tumbled 9.4% as investors questioned the durability of the company’s ongoing turnaround effort. CEO Keith Barr unveiled a four-pillar growth strategy, calling the turnaround a multiyear process. CarMax shares fell Wednesday as comparable store sales and used-vehicle profit declined for a fourth straight quarter. The trend is rais…
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