CarMax appoints interim CEO, flags weak Q3 outlook; shares drop

Carmax

06/11/2025 12:30

** Shares of used-car retailer CarMax KMX.N slumps more than 11% to $36 premarket

** Board member David McCreight named interim CEO and president

** McCreight is set to replace current CEO Bill Nash, effective December 1

** Co expects Q3 net earnings per share of 18 cents to 36 cents

** Also expects Q3 comparable store sales decrease of 8% to 12%

** Stock down 50% YTD, as of last close

 (Reporting by Apratim Sarkar in Bengaluru)

 ((Apratim.Sarkar@thomsonreuters.com))