CarMax shares fall after CEO flags high costs, operational shortcomings (opens original article in a new tab)

CarMax shares fell after CEO cited high costs and operational shortcomings, with first-quarter profit declining despite revenue growth.

• CarMax shares fell 7.5% after CEO highlighted high costs and operational issues.
• First-quarter profit dropped despite revenue growth due to squeezed margins.
• CEO emphasized need for improved efficiency, online-to-store experience, and inventory management.