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MarketScreener Homepage  >  Equities  >  Nyse  >  CarMax    KMX

CARMAX (KMX)
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Delayed Quote. Delayed  - 01/18 04:02:33 pm
61.92 USD   -4.09%
2018CARMAX, INC : quaterly earnings release
2018CARMAX, INC : half-yearly earnings release
2018CARMAX, INC : quaterly earnings release
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CarMax : grows, it is training employees to work across multiple functions within its stores As CarMax grows, it is training employees to work across multiple functions within a store

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04/29/2018 | 02:52am EST

Founded: 1993

Headquarters: Goochland County

Local operations: corporate office in Goochland, digital and technology innovation center along the Canal Walk in downtown Richmond, and auto store each in Chesterfield and Henrico counties.

What does the company do: used-car retailer

Number of local employees: 1,488

Top local executive: William "Bill" Nash, president and CEO

Total years on the list: five

Automotive retailer CarMax Inc. is placing special emphasis on tapping the hidden talents and potential of its employees.

"We are in a place where our organization is growing differently than we've grown in the past," said Diane Long Cafritz, chief human resources officer at the used-auto retailer, identifying one of the challenges the company faces going forward.

"When we were hiring talent previously, we really had to focus on specialized expertise. We needed very deep experts in all the business areas that our stores operated. Now we're growing cross-functionally. Most of our growth is on cross-functional stores. So we need to expand our talent to make sure that they are ready to deliver on our brand promise now and in the future," Cafritz said.

In CarMax's smaller market stores, employees are trained to work across multiple functions within the store. For instance, associates handle both sales and business office transactions.

The company has a new assessment and development program to identify store-level employees suited for a cross-functional role. Those selected go into a fast-track management training program.

"We need associates who are our deep functional experts to understand the business more holistically and to be able to take on more of a generalist role in addition to being a functional expert," Cafritz said.

CarMax is adapting to the digital age in which customers shop for cars online and come in to auto stores knowing what they want and what the competition is offering.

The company has its headquarters in the West Creek office park in Goochland County. But two years ago, the chain opened a technology and digital innovation center along the Canal Walk in downtown Richmond to appeal to urban-dwelling millennials.

"Attracting talent is always going to be a challenge. We have a lot of high-demand positions, particularly in our efforts to improve and evolve our digital offerings," Cafritz said.

In addition to the management development program, employees can learn about other opportunities at the company on an internal website.

"Lateral moves and moving outside of your business area are a great way to learn the business and gain new skills," Cafritz said.

"I always say that at CarMax you can take your career to places you never imagined. We really want to open that up for our associates to see that, like myself, you can be a lawyer one day and the head of (human resources) and asset protection the next. We really want our folks to be thinking very broadly about where and how they can take their career," Cafritz said.

To show employees they are appreciated, the company holds formal recognition programs. One program, the CarMax Cares, recognizes employees' community services by giving a $5,000 grant to a nonprofit organization that the winner chooses.

TLSmith@timesdispatch.com(804) 649-6572

© © Copyright 2018, Richmond Times-Dispatch, Richmond, VA, source Newspapers

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Financials ($)
Sales 2019 18 323 M
EBIT 2019 1 178 M
Net income 2019 831 M
Debt 2019 7 464 M
Yield 2019 -
P/E ratio 2019 13,18
P/E ratio 2020 12,17
EV / Sales 2019 0,98x
EV / Sales 2020 0,94x
Capitalization 10 532 M
Chart CARMAX
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Technical analysis trends CARMAX
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 79,4 $
Spread / Average Target 28%
EPS Revisions
Managers
NameTitle
William D. Nash President, Chief Executive Officer & Director
Thomas J. Folliard Non-Executive Chairman
Edwin J. Hill Chief Operating Officer & Executive VP
Thomas W. Reedy Chief Financial Officer & Executive Vice President
Shamim Mohammad Chief Information Officer & Senior Vice President
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