CarMax Reports $121 Million Loss Amid Price Cuts to Attract Buyers
CarMax reported a $121 million loss in the fourth quarter after cutting prices to attract buyers. The company's shares fell over 13% in early trading, and its stock has lost 37% of its value over the past year. The price cuts and job reductions were part of a strategy to address declining sales and improve competitiveness.
Tickers: $KMX
Topics: activist investor CarMax loss price reduction stock performance