CarMax Q1 results beat expectations but still reflect tough market conditions

CarMax struggled with a difficult macroenvironment in the first quarter of fiscal year 2024 but president and CEO Bill Nash put a positive spin on the market conditions.

“What we are seeing now is depreciation, which you would normally see,” he said during the earnings call.  “While it can be a bit of a headwind for the wholesale business, I think overall it is good for the industry because ...