CarMax to provide one-time bonus to associates as a result of the Tax Cuts and Jobs Act of 2017

Richmond, Va., 2018-Feb-23 — /EPR Retail News/ — CarMax, Inc. (NYSE:KMX), the nation’s largest retailer of used cars, announced plans to provide one-time bonuses to most hourly and commissioned full-time and part-time associates as a result of the recently passed Tax Cuts and Jobs Act of 2017. Bonus amounts will vary from $200 up to $1,500 based on length of service with the company.

“Our success as a company is due to the hard work and dedication of our talented Associates,” said Bill Nash, CarMax President and CEO. “We are always looking for ways we can support them, and I’m pleased to have this opportunity to thank associates for all that they do every day for our customers and for each other.” About 80 percent of associates will receive the bonus, which will be distributed in March 2018.*

CarMax regularly evaluates research salary data to ensure we are offering competitive compensation and benefits to our associates. The company also is carefully considering opportunities to use these new tax savings in ways that are in the best interests of our business, our associates, our customers and our shareholders.

About CarMax
CarMax is the nation’s largest retailer of used cars and operates more than 185 stores in 41 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For nearly 25 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has nearly 25,000 associates nationwide and for 14 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 28, 2017, the company retailed 671,294 used cars and sold 391,686 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

Contact:

pr@carmax.com
(855) 887-2915

Source: CarMax, Inc.

CarMax ranks No. 34 in FORTUNE magazine’s 2018 100 Best Companies to Work For®

Company Now Offering Enhanced Benefits Including Paid Parental Leave

RICHMOND, Va., 2018-Feb-19 — /EPR Retail News/ — For 14 consecutive years, CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, has been named by FORTUNE magazine as one of its 100 Best Companies to Work For®. CarMax ranks No. 34 for 2018.

“This award recognition is a direct result of the culture created by our associates,” said Bill Nash, CarMax CEO. “Their commitment to delivering an exceptional customer experience, transforming the communities around us, and caring and supporting one another is what makes CarMax a great place to work.”

The 2018 FORTUNE 100 Best Companies to Work For® list is based on survey responses from more than 310,000 employees rating their workplace culture on 50-plus elements of the workplace such as fairness, camaraderie, development and trust in leadership.

“Our associates are our number one focus, and we want to have their backs during life’s moments that matter most,” said Diane Cafritz, chief human resources officer at CarMax. “That is why we are launching newly enhanced benefits this year that are a direct result of associate feedback on what benefits are most meaningful to them.”

CarMax is now offering four weeks of paid parental leave for hourly and salaried full-time associates following the birth or adoption of a child. This parental leave applies to both non-birth and birth parents. Birth mothers are eligible to add the four weeks of paid parental leave at the end of their approved six to eight weeks of paid medical leave.

Additionally, CarMax associates will enjoy the enhanced benefit of additional vacation time based on length of service. The company will continue to look for opportunities to provide pay and benefits for associates in the areas that are important to them.

CarMax employs nearly 25,000 people nationwide and continues to grow and hire for new positions. The company is opening a total of 15 new stores in 2018, including the company’s first locations in the states of Maine and New Hampshire. Some of the areas with a large number of job openings include: Baltimore, MD; Boston, MA; Dallas, TX; Denver, CO; Houston, TX; Los Angeles, CA; and San Francisco, CA.

The majority of open full and part-time job positions among CarMax stores are in sales and service (including detailers and experienced technicians). The company is also hiring for several customer service positions at CarMax Auto Finance in Atlanta, GA and for digital and technology positions at the CarMax Home Office and CarMax Shockoe locations in Richmond, Virginia.

In addition to being recognized for 14 consecutive years as one of FORTUNE magazine’s 100 Best Companies to Work For®, FORTUNE has also recognized CarMax as one of the 20 Best Workplaces in Retail and 100 Best Workplaces for Millennials in 2017. CarMax is also one of TRAINING Magazine’s “Training Top 125” companies in America.

CarMax is committed to hiring people with strong values of integrity, transparency, and respect. Job seekers are encouraged to apply for open positions online at jobs.carmax.com.

About CarMax

CarMax is the nation’s largest retailer of used cars and operates more than 185 stores in 41 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For nearly 25 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has nearly 25,000 associates nationwide and for 14 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 28, 2017, the company retailed 671,294 used cars and sold 391,686 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

 

Source: CarMax, Inc.

Media Contact

Lindsey Duke, CarMax Public Relations, 855-887-2915

pr@carmax.com  • @CarMax • facebook.com/CarMax

CarMax expands partnership with auto repair provider RepairPal

RICHMOND, Va., 2017-Nov-29 — /EPR Retail News/ — CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today (November 28, 2017) announced it is expanding its commercial relationship with RepairPal, a leading provider of auto service and repair via a network of RepairPal Certified shops. Additionally, CarMax has made a minority investment of $5 million as the lead in a new round of financing for RepairPal.

Through this partnership, CarMax will provide its customers with access to the RepairPal Certified shop network resulting in additional trusted, quality and fair-priced service and repair locations. This investment follows several months of successfully partnering with RepairPal to offer Los Angeles customers the convenience of more service options.

Bill Nash, CarMax president and CEO said, “CarMax led the way in providing trust and transparency in car buying, selling and ownership, and our relationship with RepairPal gives us the opportunity to further enhance the customer experience. The RepairPal Certified network, combined with CarMax’s own nationwide staff of highly qualified technicians, ensures that our customers have timely options for all their service and repair needs.”

RepairPal has built a network of auto repair shops that offer a minimum 12 month/12,000 mile warranty on repairs. Customers can feel confident they’ll receive reasonable prices on repairs as shown in RepairPal’s Fair Price Estimator™. Art Shaw, RepairPal CEO, commented, “CarMax’s commitment to creating a great customer experience makes them an ideal partner as we continue to build out our network of trustworthy mechanics who deliver fair pricing and service excellence.”

About CarMax

CarMax is the nation’s largest retailer of used cars and operates more than 180 stores in 39 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 24,000 associates nationwide and for 13 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 28, 2017, the company retailed 671,294 used cars and sold 391,686 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

About RepairPal

Established in 2007, RepairPal is bringing trust and peace-of-mind to auto repair. At RepairPal.com, consumers have free access to a vast array of invaluable resources for taking care of their cars. The RepairPal Certified Network shows trusted shops nationwide where repairs are done at fair prices with quality parts and an attentive staff. By visiting RepairPal.com, consumers can get back on the road quickly knowing they’ll receive quality work at fair prices.

Forward-Looking Statements

We caution readers that the statements contained in this release about future business plans, operations, opportunities or prospects are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “should,” “will” and other similar expressions, whether in the negative or affirmative. Such forward-looking statements are based upon management’s current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from anticipated results. Among the factors that could cause actual results and outcomes to differ materially from those contained in the forward-looking statements are the following:

  • Changes in the competitive landscape and/or our failure to successfully adjust to such changes.
  • Events that damage our reputation or harm the perception of the quality of our brand.
  • Changes in general or regional U.S. economic conditions.
  • Changes in the availability or cost of capital and working capital financing, including changes related to the asset-backed securitization market.
  • Our inability to recruit, develop and retain associates and maintain positive associate relations.
  • The loss of key associates from our store, regional or corporate management teams or a significant increase in labor costs.
  • Security breaches or other events that result in the misappropriation, loss or other unauthorized disclosure of confidential customer, associate or corporate information.
  • Significant changes in prices of new and used vehicles.
  • Changes in economic conditions or other factors that result in greater credit losses for CAF’s portfolio of auto loan receivables than anticipated.
  • A reduction in the availability of or access to sources of inventory or a failure to expeditiously liquidate inventory.
  • Changes in consumer credit availability provided by our third-party finance providers.
  • Changes in the availability of extended protection plan products from third-party providers.
  • Factors related to the regulatory and legislative environment in which we operate.
  • Factors related to geographic and sales growth, including the inability to effectively manage our growth.
  • The failure of or inability to sufficiently enhance key information systems.
  • The effect of various litigation matters.
  • Adverse conditions affecting one or more automotive manufacturers, and manufacturer recalls.
  • The inaccuracy of estimates and assumptions used in the preparation of our financial statements, or the effect of new accounting requirements or changes to U.S. generally accepted accounting principles.
  • The performance of the third-party vendors we rely on for key components of our business.
  • Factors related to seasonal fluctuations in our business.
  • The occurrence of severe weather events.
  • Factors related to the geographic concentration of our stores.

For more details on factors that could affect expectations, see our Annual Report on Form 10-K for the fiscal year ended February 28, 2017, and our quarterly or current reports as filed with or furnished to the U.S. Securities and Exchange Commission. Our filings are publicly available on our investor information home page at investors.carmax.com. Requests for information may also be made to the Investor Relations Department by email to investor_relations@carmax.com or by calling 1-804-747-0422 ext. 4391. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Contact:
Catherine Gryp
CarMax Public Relations
pr@carmax.com

Kimberlea Buczeke
Community & Content at RepairPal
kimberlea@repairpal.com

Source: CarMax, Inc.

CarMax EVP and COO Cliff Wood to retire; Ed Hill to succeed

Company Highlights Succession Plan and Executive Promotions

RICHMOND, Va., 2017-Nov-01 — /EPR Retail News/ — CarMax, Inc. (NYSE:KMX) today (October 30, 2017) announced that Cliff Wood plans to retire as executive vice president and chief operating officer by the end of the summer of 2018 and will be succeeded by Ed Hill, currently CarMax’s executive vice president, strategy and business transformation.

“Cliff has been instrumental in building CarMax’s industry-leading store operations,” said Bill Nash, CarMax president and CEO. “He has helped guide the company successfully through many years of growth and has built a strong field leadership team. We are incredibly grateful for his many years of service and contributions to CarMax’s success.” Wood joined CarMax in 1993 as a buyer at CarMax’s first location in Richmond, Virginia.

Mr. Hill, 58, was promoted to executive vice president, strategy and business transformation in 2016. He joined CarMax in 1995 as director of service operations and progressively advanced to senior vice president, assuming leadership for CarMax’s corporate strategy in 2012. Prior to joining CarMax, he served in operational roles for several technology companies.

“Ed was the driving force behind the development and ongoing enhancement of our vehicle reconditioning process, one of CarMax’s key competitive advantages,” said Mr. Nash. “He has been an integral member of the executive leadership team, and his breadth of experience in operations, corporate strategy and enterprise change management will be essential for our future growth.”

CarMax also announced that, effective November 1, 2017, two additional executives will be promoted. Darren Newberry will be promoted to senior vice president, store operations, and Joe Wilson will be promoted to senior vice president, store strategy and logistics.

Mr. Newberry, 48, was promoted to vice president, regional sales, in 2016, responsible for the field sales organization through the 11 CarMax regions. He joined CarMax in March 2004 as location general manager-in-training in the Los Angeles region and was promoted to location general manager of the Duarte, California store in 2006. He was promoted subsequently to positions of increasing responsibility, including regional vice president general manager of the Baltimore region in 2013 and the Los Angeles region in 2014. Prior to joining CarMax, Mr. Newberry served as store manager and area manager for Bed, Bath and Beyond from 1994 to 2004. In his new role, he will lead the field operations for the sales, service and merchandising organizations.

Mr. Wilson, 44, was promoted to vice president, merchandising operations in 2016. He began his career at CarMax in May 1995 as a buyer-in-training at the Raleigh, N.C.store, where he was subsequently promoted to buyer and then senior buyer. Mr. Wilson later served as purchasing manager at two CarMax stores in southern Floridabefore being promoted to regional vice president of merchandising. He was promoted to assistant vice president, auction services and merchandising development in 2008 and then vice president, auction services and merchandising development in 2013. In his new role, he will lead field strategy, including our auction business, and logistics.

About CarMax

CarMax is the nation’s largest retailer of used cars, currently operating 180 stores in 39 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 24,000 associates nationwide and for 13 consecutive years has been named as one of the Fortune 100 Best Companies to Work For®. During the twelve months ended February 28, 2017, the company retailed 671,294 used vehicles and sold 391,686 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

Forward-Looking Statements

We caution readers that the statements contained in this release about our future business plans, succession plans, operations, opportunities or prospects are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “should,” “will” and other similar expressions, whether in the negative or affirmative. Such forward-looking statements are based upon management’s current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from anticipated results. Among the factors that could cause actual results and outcomes to differ materially from those contained in the forward-looking statements are the following:

  • Changes in the competitive landscape and/or our failure to successfully adjust to such changes.
  • Events that damage our reputation or harm the perception of the quality of our brand.
  • Changes in general or regional U.S. economic conditions.
  • Changes in the availability or cost of capital and working capital financing, including changes related to the asset-backed securitization market.
  • Our inability to recruit, develop and retain associates and maintain positive associate relations.
  • The loss of key associates from our store, regional or corporate management teams or a significant increase in labor costs.
  • Security breaches or other events that result in the misappropriation, loss or other unauthorized disclosure of confidential customer, associate or corporate information.
  • Significant changes in prices of new and used vehicles.
  • Changes in economic conditions or other factors that result in greater credit losses for CAF’s portfolio of auto loan receivables than anticipated.
  • A reduction in the availability of or access to sources of inventory or a failure to expeditiously liquidate inventory.
  • Changes in consumer credit availability provided by our third-party finance providers.
  • Changes in the availability of extended protection plan products from third-party providers.
  • Factors related to the regulatory and legislative environment in which we operate.
  • Factors related to geographic and sales growth, including the inability to effectively manage our growth.
  • The failure of or inability to sufficiently enhance key information systems.
  • The effect of various litigation matters.
  • Adverse conditions affecting one or more automotive manufacturers, and manufacturer recalls.
  • The inaccuracy of estimates and assumptions used in the preparation of our financial statements, or the effect of new accounting requirements or changes to U.S. generally accepted accounting principles.
  • The performance of the third-party vendors we rely on for key components of our business.
  • Factors related to seasonal fluctuations in our business.
  • The occurrence of severe weather events.
  • Factors related to the geographic concentration of our stores.

For more details on factors that could affect expectations, see our Annual Report on Form 10-K for the fiscal year ended February 28, 2017, and our quarterly or current reports as filed with or furnished to the U.S. Securities and Exchange Commission. Our filings are publicly available on our investor information home page at investors.carmax.com. Requests for information may also be made to the Investor Relations Department by email to investor_relations@carmax.com or by calling 1-804-747-0422 ext. 4391. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Media Inquiries:
(855) 887-2915
pr@carmax.com

Customer Relations:
(800) 519-1511

Marketing Inquiries:
marketing_carmax@carmax.com

Source: CarMax, Inc.

CarMax elects Sona Chawla to its board of directors

CarMax elects Sona Chawla to its board of directors

RICHMOND, Va., 2017-Apr-25 — /EPR Retail News/ —  CarMax, Inc. (NYSE:KMX) today (April 24, 2017) announced that its board of directors has elected Sona Chawla to membership on the board. Chawla will serve on the Audit Committee.

Chawla, 49, is the Chief Operating Officer of Kohl’s, a position she has held since November 2015. Before joining Kohl’s, she served at Walgreens as its President of Digital and Chief Marketing Officer from February 2014 to November 2015 and as its President, E-commerce from January 2011 to February 2014. Chawla has 16 years of experience in digital and retail.

“Sona brings to the CarMax board extensive retail expertise and a true talent for developing e-commerce initiatives that drive an exceptional customer experience,” said Bill Nash, chief executive officer of CarMax. “She’s a highly valuable addition to our board as CarMax continues to build a seamless integration between the in-store and online customer experience.”

About CarMax

CarMax is the nation’s largest retailer of used cars and operates more than 170 stores in 39 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 24,000 associates nationwide. During the 12 months ending February 28, 2017, the company retailed 671,294 used cars and sold 391,686 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

SOURCE: CarMax Business Services, LLC

CarMax, Inc.
Investors:
Katharine Kenny
Vice President, Investor Relations
(804) 935-4591

Celeste Gunter
Manager, Investor Relations
(804) 935-4597

or

Media:
(855) 887-2915
pr@carmax.com

CarMax promotes Diane Long Cafritz to chief human resources officer and SVP

CarMax promotes Diane Long Cafritz to chief human resources officer and SVP

 

RICHMOND, Va, 2017-Apr-14 — /EPR Retail News/ — CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today (Apr. 11, 2017) announced the promotion of Diane Long Cafritz to the newly created position of chief human resources officer and senior vice president.

Cafritz, 46, will lead all human resources and loss prevention areas with the primary responsibility of leading CarMax’s strategy to attract, develop and retain talent to support the company’s business and its future growth.

“Our associates are our most important asset and strongest differentiator,” said Bill Nash, CarMax president and chief executive officer. “Diane’s extensive leadership experience will be a tremendous asset in ensuring we continue to elevate our exceptional culture and move our people forward.”

Cafritz joined CarMax in 2003 as assistant general counsel, managing commercial and consumer litigation and has provided significant leadership within the company’s field operational leadership team. She was promoted to vice president in 2014. Prior to joining CarMax, she was employed by McDermott, Will & Emery in Washington, D.C. in the litigation department.

She earned her B.A. in Economics and International Relations at Tufts University, and received her J.D. from the University of Virginia.

About CarMax

CarMax is the nation’s largest retailer of used cars and operates more than 170 stores in 39 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 24,000 associates nationwide. During the 12 months ending February 28, 2017, the company retailed 671,294 used cars and sold 391,686 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

Media Contacts:
pr@carmax.com
(855) 887-2915

Investor Contacts
Katharine Kenny
Vice President
Investor Relations
(804) 935-4591

Celeste Gunter
Manager
Investor Relations
(804) 935-4597

Source: CarMax, Inc.

CarMax opens new stores in Lynnwood and Puyallup in the Puget Sound region

Company contributes $120,000 to benefit area children

SEATTLE, 2017-Apr-03 — /EPR Retail News/ — CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today celebrated the grand opening of the company’s new stores in Lynnwood and Puyallup, as its first locations in the Puget Sound region. These new stores bring more than 200 new jobs to the area, and will provide customers with a selection of between 200 and 400 vehicle options of nearly every make and model at each location.

“For more than 20 years, CarMax has brought integrity to the used car industry by offering no-haggle pricing and a transparent car buying experience that customers want and deserve,” said Bill Nash, president and CEO of CarMax. “Our company is committed to making every step of the car buying process stress-free for our customers, and we look forward to serving the Puget Sound region with the great customer experience CarMax is known for.”

During today’s grand opening celebration, CarMax announced that The CarMax Foundation will invest approximately $95,000 to build a playground in the Puget Sound area. The playground is expected to be built next year through a partnership with KaBOOM!, a national nonprofit ensuring that all kids get the balance of play they need to become healthy and successful adults.

“CarMax associates are passionate about supporting the communities where we live and work,” said Chasidy Murphy, location general manager of the CarMax in Puyallup. “CarMax is committed to making a positive impact on society and we take pride in giving back and volunteering in our local communities.”

CarMax also announced that The CarMax Foundation will be providing $25,000 in grants and donations to local organizations, including Junior Achievement of Washington and Communities in Schools of Puyallup. CarMax associates in Lynnwood and Puyallup nominated these organizations to receive the contributions and have enjoyed participating in volunteer events with both groups. The CarMax Foundation has granted more than $35 million on behalf of associates across the country since 2003.

“We are honored to support these organizations and admire their dedication to serving area youth,” said David Thompson, location general manager of the CarMax in Lynnwood. “The community has been very welcoming of CarMax and we look forward to being a great regional partner, while serving customers for years to come.”

The Puyallup and Lynnwood stores will be located at 202 Valley Avenue NW and 21317 Highway 99, respectively. In addition to the vehicles in stock at each location, customers can request transfers of almost any vehicle from other CarMax locations nationwide. CarMax’s nationwide inventory of nearly 50,000 vehicles can be viewed online at CarMax.com.

About CarMax

CarMax is the nation’s largest retailer of used cars and operates more than 170 stores in 39 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 24,000 associates nationwide and for 12 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 29, 2016, the company retailed 619,936 used cars and sold 394,437 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

Source: CarMax, Inc.

Media Contact
Lindsey Duke, CarMax Public Relations, (855) 887-2915
pr@carmax.com • @CarMax • facebook.com/CarMax

CarMax named by FORTUNE magazine as one of its 100 Best Companies to Work For

Company Hiring to Fill More Than 2,000 Positions Nationwide

RICHMOND, Va., 2017-Mar-10 — /EPR Retail News/ — For 13 consecutive years, CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, has been named by FORTUNE magazine as one of its 100 Best Companies to Work For ®. CarMax ranks No. 77 for 2017.

CarMax is currently hiring for more than 2,000 positions in existing and new locations across the country. The majority of open store positions are in sales, with additional positions in service (detailers, experienced technicians), purchasing and the business office. Positions range from full to part-time, with day and evening shifts available. Opportunities are also available at CarMax Auto Finance in Atlanta, Georgia, and at the CarMax Home Office and CarMax Shockoe locations in Richmond, Virginia. Interested candidates can visit the CarMax careers website to apply.

“CarMax is unique and different because of our associates,” said Bill Nash, CarMaxCEO. “Their dedication and drive to not only support the customer, but each other, is what makes CarMax a great place to work.”

Some of the areas with a large number of job openings include: Los Angeles and Sacramento, CA; Baltimore, MD; Richmond, VA; Boston, MA; Portland, OR; and Atlanta, GA.

“You don’t necessarily need to have experience in the automotive industry to work at CarMax,” said Monica Kidder, Sales Manager at the CarMax location in Irvine, CA.“We focus on hiring people with high integrity and provide award-winning training and development to help our associates build great careers and achieve long-term success.”

Why Work at CarMax?

  • CarMax is committed to hiring people with strong values of integrity, transparency and respect. We live these values every day and they drive how we treat our associates and our customers.
  • CarMax offers unmatched training and support for associate career growth, and is one of Training Magazine’s “Training Top 125” companies in America (10 years in a row).
  • CarMax offers competitive pay and a comprehensive benefits package.
  • Stores are equipped with climate controlled, state-of-the-art service bays with quality equipment, and associates receive discounts on car purchases and other services.
  • CarMax is recognized by G.I. Jobs as a Military Friendly Employer.
  • While technicians require previous automotive experience, most other positions do not.

How Can Job Seekers Apply?

  • Applications are only accepted online. Job seekers should apply at jobs.carmax.com.

About CarMax
CarMax is the nation’s largest retailer of used cars and operates more than 170 stores in 39 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 23,000 associates nationwide and for 13 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 29, 2016, the company retailed 619,936 used cars and sold 394,437 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

About The Fortune 100 Best Companies To Work For®
To identify the 100 Best Companies to Work For®, each year Fortune partners with Great Place to Work to conduct the most extensive employee survey in corporate America. The ranking is based on feedback from more than 232,000 employees at Great Place to Work–Certified™ companies with more than 1,000 employees. Winning a spot on this list indicates the company has distinguished itself from peers by creating a great place to work for employees.

Source: CarMax, Inc.

Media Contacts
Jennifer Bartusiak, CarMax Public Relations
pr@carmax.com
Twitter: @CarMax, Facebook: facebook.com/CarMax

CarMax opens new location in Kentwood; its first store in Michigan

Announces $10,000 grant to benefit area children

RICHMOND, Virginia, 2016-Nov-17 — /EPR Retail News/ — CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today (November 16, 2016) celebrated the grand opening of its first store in Michigan, located in Kentwood at 4431 28th Street.  The Kentwood store will have the capacity to stock approximately 200 used vehicles of nearly every make and model, and has brought more than 40 new jobs to the area.

“We are very excited to be opening our first store in the Great Lakes State, “said Bill Nash, president and CEO of CarMax. “We are looking forward to providing the simple, no-haggle CarMax experience to customers in Kentwood and to show them that buying a used car can be an honest and transparent experience.”

During today’s grand opening celebration, CarMax announced that The CarMax Foundation will be providing a $10,000 grant to the YMCA of Greater Grand Rapids. The grant will help fund the YMCA Veggie Van, which is West Michigan’s first and only mobile farmers market. The Veggie Van provides the opportunity for local farmers to sell produce directly to residents in low food access neighborhoods. Kentwood CarMax associates nominated the YMCA of Greater Grand Rapids to receive the grant.

“CarMax associates are passionate about giving back to the communities where they live and work,” said R.J. Reilly, location general manager at CarMax Kentwood. “Public service is rooted in the culture at CarMax and we are excited to continue working with community nonprofits to make a positive impact on the Grand Rapids area.”

CarMax was founded more than 20 years ago to fundamentally change the way car buying is done. CarMax customers can shop for nearly every make and model at our stores or online at carmax.com, with prices clearly listed for each of our nearly 50,000 vehicles nationwide. In addition, we stand behind our vehicles with a 5-Day Money-Back Guarantee and a 30-Day Limited Warranty (60-Day in CT, MN & RI, 90-Day in MA, NY and NJ). The CarMax Foundation has granted more than $30 million on behalf of associates across the country since 2003.

About CarMax
CarMax is the nation’s largest retailer of used cars and operates more than 160 stores in 39 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 22,000 associates nationwide and for 12 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 29, 2016, the company retailed 619,936 used cars and sold 394,437 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

Media Contacts:
Lindsey Duke
CarMax Public Relations
pr@carmax.com
Twitter: @CarMax
Facebook: facebook.com/CarMax

Source: CarMax, Inc.

CarMax celebrates grand opening of its first store in Idaho

RICHMOND, Virginia, 2016-Sep-09 — /EPR Retail News/ — CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today (September 8, 2016) celebrated the grand opening of its first store in Idaho, located in Meridian at 4043 E. Elden Gray Street.  The Meridian store will stock more than 200 used vehicles of nearly every make and model, and has brought approximately 50 new jobs to the area.

“The Meridian community has been very welcoming to CarMax,” said Louis Cominiello, location general manager at CarMax Meridian. “We are very excited to open our first store in Idaho and bring the simple and stress-free CarMax experience to area customers.”

During today’s grand opening celebration, CarMax announced that The CarMax Foundation will be providing a $10,000 grant to Idaho Foodbank Warehouse. The Foodbank created a backpack program to help provide food to children who do not have access to regular meals. The grant will fund backpacks for 1,800 students during the 2016-2017 school year. CarMax associates chose the Idaho Foodbank to receive the grant after volunteering with the organization.

“Our commitment to our local communities is rooted in CarMax’s culture and is a reflection of how passionate our associates are about public service,” said Bill Nash, president and CEO of CarMax. “We are especially excited to support and develop partnerships with area nonprofits that are making a positive impact in the Meridian community.”

CarMax was founded more than 20 years ago to fundamentally change the way car buying is done. CarMax customers can shop for nearly every make and model at our stores or online at carmax.com, with prices clearly listed for each of our nearly 50,000 vehicles nationwide. In addition, we stand behind our vehicles with a 5-Day Money-Back Guarantee and a 30-Day Limited Warranty (60-Day in CT, MN & RI, 90-Day in MA, NY and NJ). The CarMax Foundation has granted more than $30 million on behalf of associates across the country since 2003.

About CarMax
CarMax is the nation’s largest retailer of used cars and operates more than 160 stores in 37 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 22,000 associates nationwide and for 12 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 29, 2016, the company retailed 619,936 used cars and sold 394,437 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

Media Contacts:
Beth Singer
CarMax Public Relations
pr@carmax.com
Twitter: @CarMax
Facebook: facebook.com/CarMax

Source: CarMax

CarMax now accepting applications for more than 1,600 positions across the country

One of FORTUNE Magazine’s 100 Best Companies to Work For® Now Accepting Applications

RICHMOND, Va., 2016-Mar-09 — /EPR Retail News/ — CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, is recruiting for more than 1,600 positions in locations across the country. The majority of open positions are in sales, with additional positions in service (detailers, experienced technicians), purchasing and the business office. Positions range from full and part-time positions, with day and evening shifts available. CarMax was also recently named one of FORTUNE magazine’s 100 Best Companies to Work For®, the twelfth year in a row.

“CarMax is committed to hiring people who are passionate about providing an exceptional customer experience,” said Bill Nash, president of CarMax. “Our associates’ dedication and drive to not only support the customer, but each other, is what makesCarMax a great place to work.”

Some of the areas with a large number of job openings include: Washington, D.C. andBaltimore, MD area; Southern Florida area; Los Angeles, CA; Chicago, IL; Houston, TX;Sacramento, CA and Denver, CO.

In addition, at the home office in Richmond, VA, CarMax is hiring for 50 digital and technology positions. Open technology and digital positions include a range of roles such as application architects, UX designers, security analysts and software developers. They will be charged with using innovative technology to enhance the e-commerce capabilities that CarMax offers customers.

“You don’t necessarily need to have experience in the automotive industry to work at CarMax,” said Tracey Shoemaker, director of talent acquisition for CarMax. “We focus on hiring people with high integrity and provide award-winning training and development to help our associates build great careers.”

Why Work at CarMax?

  • CarMax is committed to hiring people with strong values of integrity, transparency and respect. We live these values every day and they drive how we treat our associates and our customers.
  • CarMax offers unmatched training and support for associate career growth, and is one of Training Magazine’s “Training Top 125” companies in America (nine years in a row).
  • CarMax offers competitive pay and a comprehensive benefits package.
  • Stores are equipped with climate controlled, state-of-the-art service bays with quality equipment, and associates receive discounts on car purchases and other services.
  • CarMax is recognized as one of FORTUNE magazine’s 100 Best Companies to Work For® (12 years in a row), 50 Best Workplaces for Diversity and 20 Best Workplaces in Retail.

How Can Job Seekers Apply?

  • Applications are only accepted online. Job seekers should apply at jobs.carmax.com.
  • To see videos with first-hand accounts from CarMax associates, visit youtube.com/carmax.
  • While technicians require previous automotive experience, most other positions do not.

About CarMax
CarMax, a member of the FORTUNE 500 and the S&P 500, and on the FORTUNE 100 Best Companies to Work For® list for 12 consecutive years, is the nation’s largest retailer of used vehicles. Headquartered in Richmond, Virginia, CarMax currently operates 158 superstores in 78 markets. The CarMax consumer offer features low, no-haggle prices, a broad selection of CarMax Quality Certified used vehicles, and superior customer service. During the 12 months ending February 28, 2015, the company retailed 582,282 used cars and sold 376,186 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at www.carmax.com

Source: CarMax, Inc.

Media Contact
Beth Singer, CarMax Public Relations
pr@carmax.com
Twitter: @CarMax, Facebook: facebook.com/CarMax

Training magazine names CarMax to its Training Top 125, ninth year in a row

Company Makes List Of Best Employee Development Programs For Ninth Consecutive Year

RICHMOND, Va., 2016-Feb-17 — /EPR Retail News/ — CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, has been named to Training magazine’s Training Top 125 for the ninth year. CarMax ranks No. 56 for 2016. Training Top 125 recognizes organizations for providing extraordinary employer-sponsored workforce training and development programs.

Training magazine, the leading business publication for learning and development professionals, annually selects 125 organizations that excel at employee development. These companies are chosen based on a variety of criteria, including the best leadership development, outstanding training initiatives and demonstrable results of training programs.

“Strong and relevant training programs are a vital key to our company’s success,” said Bill Nash, president of CarMax. “As the company grows, we continue to develop training programs to enhance our associates’ career opportunities.”

Associates at all levels receive individual development plans tailored to prepare them for success in their current role, as well as for future career development.

“We take an individualized approach in training and development to ensure that every associate is equipped to provide an exceptional customer experience and has the opportunity to be their best,” said Debbie Edwards, manager, talent management. “The content, technology, and pace of training we provide is based on the interests and abilities of each individual.”

CarMax offers a wide variety of training programs that take this specialized approach, focusing on the needs of the individual, from classroom instruction; self-paced e-learning; on-the-job learning, practice and demonstration; one-on-one mentoring and coaching; and virtual learning opportunities. On average, each CarMax store associate completes more than 60 hours of training per year.

In addition to this award, CarMax annually wins numerous national and local awards for being an employer of choice. CarMax is recognized as one of FORTUNE magazine’s 100 Best Companies to Work For®; 50 Best Workplaces for Diversity; and 20 Best Workplaces in Retail. CarMax is currently recruiting for more than 1500 positions nationwide and encourages interested candidates to visit jobs.carmax.com to apply today.

About CarMax
CarMax, a member of the Fortune 500 and the S&P 500, and one of the Fortune 100 Best Companies to Work For® for 11 consecutive years, is the nation’s largest retailer of used vehicles. Headquartered in Richmond, Virginia, CarMax currently operates 156 superstores in 78 markets. The CarMax consumer offer features low, no-haggle prices, a broad selection of CarMax Quality Certified used vehicles, and superior customer service. During the 12 months ending February 28, 2015, the company retailed 582,282 used cars and sold 376,186 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at www.carmax.com

Media Contact
Jennifer Bartusiak, CarMax Public Relations, (804) 747-0422, ext. 4429, Jen_Bartusiak@carmax.com

CarMax, Inc. announces management changes

RICHMOND, Va., 2016-Feb-03 — /EPR Retail News/ — CarMax, Inc. (NYSE:KMX) today announced that, as the culmination of a multi-year management succession plan, Bill Nash has been promoted to president and Cliff Wood has been promoted to chief operating officer, effective February 1, 2016. Tom Folliard plans to retire as chief executive officer prior to the end of 2016, at which time it is anticipated that Mr. Nash will assume the role of CEO. Upon Mr. Folliard’s retirement, the Board of Directors expects that he will serve as the non-executive chairman of the board.

“Tom Folliard has built an exceptional management team at CarMax, positioning the company for continued growth,” said Bill Tiefel, chairman of the board. “The execution of our long-term succession plan, with Bill as president and Cliff as COO, ensures a seamless management transition and the continuity of the company’s culture.” Mr. Folliard, 51, has been with CarMax for 23 years and was promoted to president and CEO in May 2006. During his ten years as CEO, Mr. Folliard successfully led CarMaxthrough the company’s establishment as a national brand and a time of significant growth, during which its store base and total revenues more than doubled, and its net income quadrupled.

Mr. Nash, 46, was promoted to executive vice president, human resources and administrative services in 2012, where he oversaw human resources, information technology, procurement, loss prevention, employee health & safety and construction & facilities. He joined CarMax in 1997 as auction manager and was ultimately promoted to vice president of auction services. In 2007, Mr. Nash was promoted to vice president and later, senior vice president of merchandising, a position he held until 2011, when he was named senior vice president, human resources and administrative services. Before joining CarMax, Mr. Nash, a CPA, held a variety of accounting roles at Circuit City. “Bill Nash and I have worked together for nearly 20 years. He is a highly talented leader with experience in all aspects of our business and is the right choice to guide CarMaxthrough the next phase of our growth and development,” said Mr. Folliard.

Mr. Wood, 49, was promoted to executive vice president, stores in 2012, where he was responsible for all sales, service, merchandising, and business office functions. In 1993, he joined CarMax from Circuit City as a buyer in CarMax’s first location. Over time, he rose through the ranks in merchandising and ultimately led the group. Beginning in 2007, he served as vice president of sales. “We are fortunate to have another great leader in Cliff Wood,” said Mr. Folliard. “His breadth of experience and high level of operational expertise will continue to support CarMax’s competitive differentiation.”

“I would like to thank Tom for his vision and support over the years,” said Mr. Nash. “I am honored and excited to have this opportunity. We have an exceptional team of associates who have maintained the truly unique culture that has placed us on Fortune’s ‘100 Best Companies To Work For’ list for 11 consecutive years. Our associates continue to deliver a customer experience that is second to none.”

About CarMax
CarMax, a member of the Fortune 500 and the S&P 500, and one of the Fortune “100 Best Companies to Work For,” for 11 consecutive years, is the nation’s largest retailer of used vehicles. Headquartered in Richmond, Va., CarMax currently operates 155 used car stores in 77 markets. The CarMax consumer offer features low, no-haggle prices, a broad selection of CarMax Quality Certified used vehicles and superior customer service. During the fiscal year ended February 28, 2015, the company retailed 582,282 used vehicles and sold 376,186 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at www.carmax.com.

Forward-Looking Statements

We caution readers that the statements contained in this release about our future business plans, operations, opportunities or prospects, including without limitation any statements or factors regarding succession or organizational matters, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “should,” “will” and other similar expressions, whether in the negative or affirmative. Such forward-looking statements are based upon management’s current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual outcomes to differ materially from anticipated outcomes. Among the factors that could cause actual outcomes to differ materially from those contained in the forward-looking statements are the following:

  • Changes in the competitive landscape and/or our failure to successfully adjust to such changes.
  • Events that damage our reputation or harm the perception of the quality of our brand.
  • Changes in general or regional U.S. economic conditions.
  • Changes in the availability or cost of capital and working capital financing, including changes related to the asset-backed securitization market.
  • Changes in consumer credit availability provided by our third-party financing providers.
  • Changes in the availability of extended protection plan products from third-party providers.
  • Our inability to recruit, develop and retain associates and maintain positive associate relations.
  • The loss of key associates from our store, regional or corporate management teams or a significant increase in labor costs.
  • Security breaches or other events that result in the misappropriation, loss or other unauthorized disclosure of confidential customer or associate information.
  • Significant changes in prices of new and used vehicles.
  • A reduction in the availability of or access to sources of inventory or a failure to expeditiously liquidate inventory.
  • Factors related to the regulatory and legislative environment in which we operate.
  • Factors related to geographic growth, including the inability to acquire or lease suitable real estate at favorable terms or to effectively manage our growth.
  • The failure of key information systems.
  • The effect of various litigation matters.
  • Adverse conditions affecting one or more automotive manufacturers, and manufacturer recalls.
  • The inaccuracy of estimates and assumptions used in the preparation of our financial statements, or the effect of new accounting requirements or changes to U.S. generally accepted accounting principles.
  • Factors related to seasonal fluctuations in our business.
  • The occurrence of severe weather events.
  • Factors related to the geographic concentration of our stores.

For more details on factors that could affect expectations, see our Annual Report on Form 10-K for the fiscal year ended February 28, 2015, and our quarterly or current reports as filed with or furnished to the U.S. Securities and Exchange Commission. Our filings are publicly available on our investor information home page at investors.carmax.com. Requests for information may also be made to the Investor Relations Department by email to investor_relations@carmax.com or by calling 1-804-747-0422 ext. 4391. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Source: CarMax, Inc.

CarMax, Inc.
Investors:
Katharine Kenny, Vice President, Investor Relations, (804) 935-4591
Celeste Gunter, Manager, Investor Relations, (804) 935-4597
or
Media:
pr@carmax.com, (855) 887-2915