CarMax posts higher quarterly profit, cuts forecast


DETROIT, June 20 (Reuters) - Auto dealership group CarMax Inc. on Monday said first-quarter profits rose 13 percent to $39.8 million, or 37 cents per share, compared to $35.3 million, or 33 cents per share, a year ago. Total sales rose 19 percent to $1.58 billion, from $1.32 billion a year ago. Comparable store sales rose 6 percent, CarMax said. The results fell slightly below analysts' average forecast of a 36 cent profit, but revenues exceeded forecasts of $1.56 billion, according to ...

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