CarMax 2003 Annual Report Download - page 16

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14 CARMAX 2003
We believe we have a superior consumer offer and the superior processes
and systems to deliver the offer successfully. Consequently, we believe
we can deliver excellent sales and earnings growth as we expand our
store base across the country.
SOLID GROWTH OPPORTUNITY
6
Growth Plan
■The five-year growth plan begun at the end of fiscal 2002 is on schedule.
●Two used car superstores opened in fiscal 2002.
●Five used car superstores opened in fiscal 2003; a sixth, Las Vegas,
originally planned for fiscal 2003, opened in March fiscal 2004.
●We plan to open 7 or 8 additional used car superstores during the
remainder of fiscal 2004.
■Through the end of fiscal 2003, all of our new stores were performing
above our initial expectations.
■We plan to open stores at an annual rate of approximately 15% to 20% of
our store base.
FISCAL 2004 SUPERSTORE GROWTH