CarMax 2014 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2014 CarMax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

18
Item 2. Properties.
We conduct our retail vehicle operations in two basic formats – production and non-production superstores.
Production superstores are those locations at which vehicle reconditioning is performed. Production superstores
have more service bays and require additional space for work-in-process inventory and, therefore, are generally
larger than non-production stores. In determining whether to construct a production or a non-production superstore
on a given site, we take several factors into account, including the anticipated long-term regional reconditioning
needs and the available acreage of the sites in that market. As a result, some superstores that are constructed to
accommodate reconditioning activities may initially be operated as non-production superstores until we expand our
presence in that market. As of February 28, 2014, we operated 73 production superstores and 58 non-production
superstores.
As of February 28, 2014, we operated 60 wholesale auctions, most of which were located at production superstores.
Stores at which auctions are conducted generally have additional space to store wholesale inventory. As of
February 28, 2014, we also operated one new car store, which was located adjacent to our used car superstore in
Laurel, Maryland. Our remaining three new car franchises are operated as part of our used car superstores.
Production superstores are generally on 10 to 25 acres, but a few range from 20 to 35 acres, and non-production
superstores are generally on 4 to 12 acres.
USED CAR SUPERSTORES AS OF FEBRUARY 28, 2014
Total
Alabama 2
Arizona 3
California 18
Colorado 3
Connecticut 2
Delaware 1
Florida 13
Georgia 8
Illinois 6
Iowa 1
Indiana 2
Kansas 2
Kentucky 2
Louisiana 1
Maryland 6
Massachusetts 1
Mississippi 1
Missouri 3
N
ebraska 1
evada 2
N
ew Mexico 1
N
orth Carolina 8
Ohio 4
Oklahoma 2
Pennsylvania 2
South Carolina 3
Tennessee 7
Texas 13
Utah 1
Virginia 9
Wisconsin 3
Total 131