CarMax 2016 Annual Report Download - page 20
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Please find page 20 of the 2016 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.16
USED CAR STORES AS OF FEBRUARY 29, 2016
State Count State Count
Alabama 3 Nebraska 1
Arizona 3 Nevada 3
California 18 New Jersey 1
Colorado 5 New Mexico 1
Connecticut 2 New York 1
Delaware 1 North Carolina 9
Florida 15 Ohio 5
Georgia 9 Oklahoma 2
Illinois 8 Oregon 2
Indiana 2 Pennsylvania 3
Iowa 1 Rhode Island 1
Kansas 2 South Carolina 3
Kentucky 2 Tennessee 7
Louisiana 1 Texas 15
Maryland 6 Utah 1
Massachusetts 3 Virginia 10
Minnesota 2 Washington 1
Mississippi 2 Wisconsin 4
Missouri 3 Total 158
Of the 158 used car stores open as of February 29, 2016, 84 were located on owned sites and 74 were located on leased sites.
The leases are classified as follows:
Land-only leases 18
Land and building leases 56
Total leased sites 74
As of February 29, 2016, we leased our CAF office building in Atlanta, Georgia. We own our home office building in Richmond,
Virginia, and land associated with planned future store openings.
Expansion
Since opening our first used car store in 1993, we have grown organically, through the construction and opening of company-
operated stores. We do not franchise our operations. As of February 29, 2016, we operated in 78 U.S. markets, which
covered approximately 65% of the U.S. population. We believe that further geographic expansion and additional fill-in
opportunities in existing markets will provide a foundation for future sales and earnings growth. In fiscal 2017, we plan to open
15 stores. In fiscal 2018, we plan to open between 13 and 16 stores.
For additional details on our future expansion plans, see “Fiscal 2017 Planned Store Openings,” included in Part II, Item 7 of this
Form 10-K.
Item 3. Legal Proceedings.
Information in response to this Item is included in Note 16 to the Consolidated Financial Statements included in Item 8 of this
Annual Report on Form 10-K and is incorporated herein by reference.
Item 4. Mine Safety Disclosures.
None.