None
EN
CarMax Stock Just Tanked. Time to Buy?
['Daniel Sparks']
The Motley Fool
CarMax (KMX -1.61%), the leading omnichannel seller of used vehicles, was hit hard after its latest update.
CarMax Auto Finance income declined 11% to $103 million as the provision for loan losses rose to $142 million from $113 million a year ago.
Highlighting CarMax's long-term confidence in the business, management repurchased $180 million of stock during the period.
Second, digital capabilities continue to support the omnichannel approach; management said 80% of retail unit sales used its digital tools in the quarter.
After this week's sell-off, the stock looks attractive for patient investors.
['stock'
'million'
'unit'
'tanked'
'omnichannel'
'buy'
'used'
'retail'
'carmax'
'earnings'
'credit'
'selloff'
'sga']