CarMax results hit by ‘used-vehicle recession’; buyback paused
Dec 22 (Reuters) – Used-car retailer CarMax Inc (KMX.N) said on Thursday it was pausing some hiring, halting share buybacks and cutting expenses after reporting an 86% drop in third-quarter profit as the industry struggles to offload inventory amid waning demand. The company’s shares fell as much as 12% to $52.10 and were at more … Read more