NYSE:KMXSpecialty Retail
CarMax Cost Cuts And Layoffs Reset Profitability And Turnaround Debate
CarMax (NYSE:KMX) has announced about $150 million in cost reductions.
The plan includes major layoffs that will affect nearly a third of its workforce.
These changes come as the company confronts a severe sales slump and revisits its operating model.
For investors watching NYSE:KMX, this is a meaningful reset of how CarMax runs its business. The shares most recently closed at $45.47, with the stock up 11.1% over the past 30 days and 15.7% year to date, but showing a 47.5% decline over the...