CarMax 2016 Annual Report Download - page 8
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PART I
In this document, “we,” “our,” “us,” “CarMax” and “the company” refer to CarMax, Inc. and its wholly owned subsidiaries, unless
the context requires otherwise.
FORWARD-LOOKING AND CAUTIONARY STATEMENTS
This Annual Report on Form 10-K and, in particular, the description of our business set forth in Item 1 and our Management’s
Discussion and Analysis of Financial Condition and Results of Operations set forth in Item 7 contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, (“Securities Act”) and Section 21E of the Securities
Exchange Act of 1934, as amended (“Exchange Act”), including statements regarding:
• Our projected future sales growth, comparable store sales growth, margins, earnings, CarMax Auto Finance income and
earnings per share.
• Our expectations of factors that could affect CarMax Auto Finance income.
• Our expected future expenditures, cash needs, and financing sources.
• Our expected capital structure, stock repurchases and indebtedness.
• The projected number, timing and cost of new store openings.
• Our gross profit margin, inventory levels and ability to leverage selling, general and administrative and other fixed costs.
• Our sales and marketing plans.
• The capabilities of our proprietary information technology systems and other systems.
• Our assessment of the potential outcome and financial impact of litigation and the potential impact of unasserted claims.
• Our assessment of competitors and potential competitors.
• Our expectations for growth in our markets and in the used vehicle retail sector.
• Our assessment of the effect of recent legislation and accounting pronouncements.
In addition, any statements contained in or incorporated by reference into this report that are not statements of historical fact should
be considered forward-looking statements. You can identify these forward-looking statements by use of words such as “anticipate,”
“believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “should,” “will” and other similar
expressions, whether in the negative or affirmative. We cannot guarantee that we will achieve the plans, intentions or expectations
disclosed in the forward-looking statements. There are a number of important risks and uncertainties that could cause actual results
to differ materially from those indicated by our forward-looking statements. These risks and uncertainties include, without
limitation, those set forth in Item 1A under the heading “Risk Factors.” We caution investors not to place undue reliance on any
forward-looking statements as these statements speak only as of the date when made. We disclaim any intent or obligation to
update any forward-looking statements made in this report.