CarMax cuts outlook blaming high gasoline prices

Newswire

NEW YORK, May 20 (Reuters) - Used car seller CarMax Inc. on Friday cut back its quarterly earnings and sales outlook, saying high gasoline prices appear to be hurting demand for cars. For the fiscal first quarter ending May 31, the Richmond, Virginia, company said it now expects earnings of either 35 cents or 36 cents per share with comparable-store used vehicle unit sales growth of 6 percent. Previously it had estimated earnings of 35 cents to 38 cents per share with comparable store ...

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