CarMax Anticipates Lowering Retail Used Unit Margins In Q4

Fiscal Year 2026 Fourth Quarter Preliminary Outlook. We expect the following actions will result in improved sales performance trends:

• Improve price competitiveness: we anticipate lowering retail used unit margins in the fourth quarter.
• Increase marketing spend: we expect marketing spend on a total unit basis to be up year-over-year in the fourth quarter, though to a lesser degree than during the third quarter, with a focus on investing in acquisition to drive buys and sales.