CarMax Stock Sinks as Q4 Profit Falls Short, Growth-Target Timelines Suspended
CarMax shares fell sharply Thursday after the used-car retailer's fiscal fourth-quarter profit and used-vehicle sales came in below analysts' expectations.
CarMax shares fell sharply Thursday after the used-car retailer's fiscal fourth-quarter profit and used-vehicle sales came in below analysts' expectations.
Furniture company Lovesac (NASDAQ:LOVE) reported Q4 CY2024 results beating Wall Street’s revenue expectations, but sales fell by 3.6% year on year to $241.5 million. The company expects next quarter’s revenue to be around $139 million, close to analysts’ estimates. Its GAAP profit of $2.13 per share was 13.7% above analysts’ consensus estimates.
Used automotive vehicle retailer Carmax (NYSE:KMX) met Wall Street’s revenue expectations in Q1 CY2025, with sales up 6.7% year on year to $6.00 billion. Its GAAP profit of $0.58 per share was 11.9% below analysts’ consensus estimates.
The head of the Bank of France says America's USP of 'constancy' is at risk from Trump's erratic trade decisions.
Overseas stock indexes are rallying after President Donald Trump said he would pause "reciprocal" tariffs for 90 days for all trading partners except China. U.S. stock futures are pulling back after soaring yesterday on the news.
The White House claimed the "art" of Trump's deal hadn't been appreciated by media and the markets.
U.S. President Donald Trump's decision to pause the hefty duties he had said he would impose on dozens of countries one week ago followed turmoil in financial markets that included an acute selloff in the $29 trillion Treasury market. Trump said on Wednesday the bond market had recovered well after investors became queasy about it in reaction to his tariff announcements. "The bond market now is beautiful," he told reporters.
With markets crashing after U.S. President Donald Trump announced his latest tariffs, Citigroup’s banking head Viswas Raghavan called a global meeting of senior bankers on Monday and told them to get on the phone with their clients. Raghavan's message was simple, according to one banker on the call: Stay close to clients because if you do not, a competitor will. Raghavan told them to assure clients that Citi, which nearly collapsed during the 2008 financial crisis, had plenty of funds this time to weather the tariff storm, said the banker, one of two who recounted the call.
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Demand for warehouses used to move goods through Los Angeles County ports is expected to fall if widespread tariffs take effect, potentially damaging the economic vitality of one of the world's largest industrial real estate markets.