CarMax, Inc. (NYSE: KMX) is the nation’s largest retailer of used cars. The Company, which pioneered the used car superstore concept, opened its first store in Richmond, Va., in 1993.
As the CarMax concept was developed, market research revealed that consumers wanted a car-buying experience similar to shopping at other high-quality retailers: low, no-haggle pricing, confidence in the quality of the product, a broad selection, and friendly customer service. CarMax’s growth continues to confirm that the CarMax offer provides the car-buying experience that consumers want.
In 2004, CarMax debuted on the FORTUNE® 500 list at No. 435. The Company ranked No. 311 in 2009. In 2009, CarMax was named one of FORTUNE’s “100 Best Companies to Work For” for the fifth consecutive year. In addition, CarMax was ranked by FORTUNE as one of the most admired companies in the automotive retailing and services sector.
The Used Vehicle Market
For the near term, CarMax is narrowing its focus on three key strategies to benefit our three primary stakeholders - Associates, customers and shareholders:
There are more than 13,000 Associates in our stores, at our Home Office in Richmond, Va., and at CarMax Auto Finance in Atlanta, Ga.
Fiscal Year Ended February 28, 2009