UPDATE 3-CarMax profits up 13 percent; shares rise

Newswire

(Adds analyst comment, updates share price) DETROIT, June 20 (Reuters) - Auto dealership group CarMax Inc. on Monday posted a 13 percent increase in quarterly profit on higher used vehicle sales and said it expects net sales to more than double in the next five years, sending its shares up more than 6 percent. The company, however, issued a cautious outlook for the second quarter, saying high U.S. gasoline and wholesale auction prices, which drive up its acquisition costs, were likely to ...

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