CarMax hosted its quarterly conference call today, highlighting several company feats, including an increase in comparable-store used unit sales of 7 percent in its fiscal fourth quarter that ended Feb. 28, as well as an increase of that same metric for the year at 4.4 percent.
Total used unit sales were up 12.4 percent in the fourth quarter and 10.5 percent for the year, bolstered by the company’s acquisition of 18 stores since the fourth quarter of 2013. Tom Folliard, CarMax’s president and chief executive officer, said that the company plans to between 13 and 16 stores in each of the next three fiscal years.
“We had another great year, achieving several new milestones,” Folliard said. “Since opening our first store in 1993, we’ve now retailed well over 5 million used cars and 3 million wholesale cars, which is a testament to the strength of our brand. In fiscal 2015, the continued strong performance of our used, wholesale and CAF operations, along with the growth of our store base and our ongoing share repurchase program, contributed to our record earnings per share.”
And those earnings per share were staggering — net earnings per diluted share rose 52.3 percent to $0.67 per share in the fourth quarter while those same metrics grew 26.4 percent for the fiscal year, up to $2.73 per share.
On the wholesale front, total unit sales increased 12.3 percent in the fourth quarter and 9.8 percent for the year.
A complete list of CarMax's 2014 results can be found .