CarMax (KMX) - a recent IPO of a Circuit City unit Message Board

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Non-Tech : CarMax (KMX) - a recent IPO of a Circuit City unit

KMX 32.37

+4.8%

Nov 7 9:30 AM EST

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To: Lee Robey who wrote (22)	4/27/1997 12:34:00 PM
From: David B. Higgs	of 67

Lee, I sure hope you are right. For a company with excellent reviews by Wall Street, outstanding year over year sales and individual store revenue, I have a hard time understanding CarMax's poor stock performance. Each new store immediately becomes a cash cow. Once additional outlets actually open thereby allowing overhead (systems, HR, other HQ expenses) to be spread across a larger revenue base, hopefully the financial picture and share price will improve. Since share price is a function of future earnings, I am concerned we did not see some positive movement upon the recent announcement of planned outlet openings. I'm willing to wait a few quarters but it would be nice to atleast see the stock trading in a narrow range for a while rather than continuing its rapid freefall. Regards Dave

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