UPDATE 2-Auto dealer CarMax ups quarterly profit forecast

Newswire

(Adds share price movement) DETROIT, Aug 23 (Reuters) - Auto dealer group CarMax Inc. raised its second-quarter earnings forecast on Tuesday, citing better-than-expected sales and showroom traffic. CarMax shares jumped more than 11 percent in pre-market trading on the news. Richmond, Virginia-based, CarMax said it now expected quarterly earnings of about 37 cents a share, up from its previous forecast for profit in the range of 29 cents to 34 cents. The increase was driven, at least ...

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