CarMax's E-Commerce Bet Is Already Paying Off
It's been less than a year since CarMax (NYSE: KMX) took its digital buying platform completely online, but shareholders are already seeing benefits from the move. The used car retailer on Thursday announced record sales through late August, including in the e-commerce channel.
CarMax's results weren't all positive, though, as increasing costs reduced profitability. But the chain is still finding plenty of resources to fund its new store launches as it works to build on its market-share lead in this fragmented industry.
Let's take a closer look at the summer operating trends as reported in the company's second-quarter earnings, released Thursday.
Source Fool.com
