CarMax 2006 Annual Report Download - page 3

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Forward-Looking Statements: Statements in this annual report about the company's future business plans, operations, opportunities, or prospects, including without limitation any statements or factors regarding expected sales,
margins, or earnings, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Such forward-looking statements are based on 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. For more details on factors that could affect expectations, see “Management's
Discussion and Analysis of Financial Condition and Results of Operations” contained in this annual report and the reports that the company files with or furnishes to the Securities and Exchange Commission.
Separation: On October 1, 2002, CarMax, Inc. was separated from Circuit City Stores, Inc. and became an independent, separately traded public company. Details of the separation are discussed in the company's Annual Report on
Form 10-K for the fiscal year ended February 28, 2006. The consolidated financial statements and related information contained in this annual report are presented as if CarMax existed as a separate entity during all periods presented.
CarMax, Inc. is the nation's largest retailer of used cars. As of February 28, 2006,
CarMax operated 67 used car superstores in 31 markets, as well as seven new car
franchises, all of which were integrated or co-located with its used car superstores.
CarMax retailed 289,888 used vehicles in fiscal 2006, representing 93% of the total
310,789 vehicles retailed by the company during the year.
CARMAX MARKETS CARMAX USED CAR SUPERSTORES
(As of February 28, 2006)
Tennessee
Knoxville
Memphis
Nashville (2)
Texas
Austin
Dallas/Fort Worth (4)
Houston (4)
San Antonio
Utah
Salt Lake City
Virginia
Richmond (2)
Virginia Beach
Washington, D.C./
Baltimore (4)
Kansas/
Missouri
Kansas City (2)
Wichita
Kentucky
Louisville
Nevada
Las Vegas (2)
New Mexico
Albuquerque
North Carolina
Charlotte (2)
Greensboro (2)
Raleigh (2)
South Carolina
Columbia
Greenville
Alabama
Birmingham
California
Los Angeles (5)
Sacramento
Florida
Jacksonville
Miami (5)
Orlando (2)
Tampa (2)
Georgia
Atlanta (4)
Illinois
Chicago (8)
Indiana
Indianapolis
Large Markets (8)
Mid-Sized Markets (23)
REVENUES
(In billions)
NET
EARNINGS
(In millions)
COMPARABLE STORE
USED UNIT SALES
(Percentage change)
USED
VEHICLES
SOLD
0605040302
0605040302
0605040302
1
4
24
8
6
$5.26
$6.26
$3.53
$3.97
$4.60
$148.1
$90.8
$94.8
$116.5
$112.9
0605040302
224,099
253,168
289,888
164,062
190,135