CarMax, Inc. (NYSE: KMX) reported worse-than-expected Q3 results.
CarMax reported a third-quarter FY23 sales decline of 23.8% year-on-year to $6.5 billion Thursday, missing the analyst consensus estimate of $7.42 billion. EPS of 24 cents missed the consensus estimate of 72 cents.
U.S. markets witnessed another sell-off on Thursday, erasing all optimism surrounding a "Santa Claus" rally following a rebound in the previous session as investors and traders began considering the effects of a recession. Major Wall Street indices closed over 1% lower on Thursday.
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CarMax Inc (NYSE: KMX) reported a third-quarter FY23 sales decline of 23.8% year-on-year to $6.5 billion Thursday, missing the analyst consensus estimate of $7.42 billion.