Today’s chart highlights a company that has been able to adapt and thrive…
Regular readers know the COVID-19 pandemic limited in-person shopping, leading to a massive boost in e-commerce. Many brick-and-mortar retailers have shifted their focus as a result. By adding new online stores and services – or improving their existing ones – they can profit from the online-shopping trend. Today’s company is a perfect example…
CarMax (KMX) is the U.S.’s leading used-car retailer. The $25 billion company has more than 220 stores across the nation and sold more than 1 million vehicles last fiscal year. CarMax introduced a flexible online car-buying service in 2020 to offset lower foot traffic to its retail stores… Now, with a combination of online shoppers and folks returning to CarMax’s physical locations, the company is performing better than ever. CarMax posted record revenues of $8 billion in the second quarter, up about 49% year over year.
As you can see in today’s chart, KMX shares are soaring. They’re up nearly 250% from last year’s lows… And they recently hit a fresh all-time high. As the e-commerce trend remains strong, CarMax should continue to benefit…
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Source: Daily Wealth’s Market Notes