UPDATE 2-CarMax cuts outlook, blaming high gasoline prices


(Adds stock activity) 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, sending shares down more than 10 percent. 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. That compares with previous ...

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