Where is CarMax common stock traded and what is the ticker symbol?

CarMax, Inc. common stock is traded on the New York Stock Exchange, under the symbol KMX. Prior to its separation from Circuit City in 2002, the Circuit City Stores -- CarMax Group common stock was traded on the NYSE under the same symbol.

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What is CarMax's cusip number?

The cusip number for CarMax common stock is 143130102.

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When was CarMax founded?

The concept for CarMax was developed by Circuit City in the early 1990s, when Circuit City began searching for future growth opportunities beyond the consumer electronics sector. The automotive retail sector was identified as having the greatest potential based on its huge size, fragmented competition, and reputation for unmet consumer needs. The first CarMax used car store was opened in Richmond, Virginia, in September 1993.

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When and where was CarMax incorporated?

CarMax was incorporated under the laws of the Commonwealth of Virginia in 1996.

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When did CarMax go public and at what price?

In 1996, Circuit City created two series of common stocks -- the Circuit City Group common stock and the CarMax Group common stock, which was intended to track separately the performance of the CarMax automotive operations. On February 7, 1997, Circuit City completed the initial public offering of 43.7 million shares of CarMax Group common stock for $10 per share (as adjusted for subsequent stock splits). Upon completion of the offering, the outstanding CarMax Group stock represented approximately 23% of the equity of the CarMax Group, and the Circuit City Group held the remaining approximately 77% interest in the CarMax Group.

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When were CarMax's additional public offerings of common stock?

In 2001, Circuit City completed the sale of an additional approximately 19 million shares of CarMax Group common stock (as adjusted for subsequent stock splits), reducing the Circuit City Group's interest in the CarMax Group to approximately 64%.

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When was CarMax separated from Circuit City?

On October 1, 2002, Circuit City completed the tax-free separation of the CarMax business, and CarMax became an independent company. In the separation, Circuit City:

1. Redeemed the outstanding CarMax Group shares, exchanging each CarMax Group share for one share of CarMax, Inc. common stock.

2. Distributed a stock dividend of 0.313879 of a share of CarMax, Inc. common stock for each share of Circuit City Group common stock. A total of approximately 130 million CarMax, Inc. shares were issued in this distribution (as adjusted for subsequent stock splits).

Also effective October 1, 2002, the Circuit City Group common stock was renamed Circuit City common stock, which thereafter represented an ownership interest in only the Circuit City business.

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What were the tax implications of the 2002 separation from CarMax from Circuit City?

Circuit City obtained a ruling from the U.S. Internal Revenue Service stating that the redemption and distribution of CarMax, Inc. stock qualified as a tax-free transaction for U.S. federal income tax purposes. Accordingly, Circuit City Group and CarMax Group shareholders did not recognize any gain or loss on the redemption or distribution of CarMax stock, except in connection with cash received in lieu of a fractional share of CarMax stock.

Tax Implications for Former CarMax Group Holders. Holders of CarMax Group common stock whose shares were redeemed in exchange for CarMax, Inc. common stock have a tax basis in the CarMax, Inc. shares equal to their aggregate tax basis in the CarMax Group shares.

Tax Implications for Former Circuit City Group Holders. Holders of Circuit City Group common stock who received the CarMax distribution should have apportioned the tax basis of their Circuit City shares between their existing Circuit City shares and the CarMax shares received, based on the relative fair market value of the two stocks on the October 1, 2002, distribution date (see below). Shareholders selling CarMax shares that were received in the distribution have a taxable gain or loss equal to the difference between the sales proceeds and the tax basis allocated to those CarMax shares.

Basis Allocation Factors for Former Circuit City Group Holders. Based upon the average high and low prices at which the Circuit City and CarMax stocks traded on the New York Stock Exchange on October 1, 2002, the apportionment factors for Circuit City Group shares that received a CarMax distribution are as follows:

* 66.83% of the pre-distribution tax basis in Circuit City Group shares should have remained allocated to the Circuit City shares.

* 33.17% of the pre-distribution tax basis in Circuit City Group shares should be allocated to the distributed CarMax, Inc. shares (including any fractional share interest, as applicable).

Shareholders should consult their tax advisors concerning the tax consequences of the redemption and distribution of CarMax, Inc. common stock in light of their own particular circumstances, including whether the apportionment of tax basis between Circuit City and CarMax shares was performed prior to the recognition of any losses taken in connection with the bankruptcy of Circuit City.

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Have there been any stock splits of CarMax stock?

On February 22, 2007, the CarMax board of directors declared a 2-for-1 stock split in the form of a common stock dividend for shareholders of record on March 19, 2007, which was distributed on March 26, 2007.

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Does CarMax pay cash dividends on its stock?

To date, we have not paid a cash dividend on our common stock.

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What are CarMax's credit ratings?

At present, we have no publicly traded debt, and therefore the credit rating agencies have no ratings on the company.

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How do I purchase CarMax stock? Can I buy shares directly from CarMax?

Interested investors should consult a stockbroker. CarMax does not offer a direct stock purchase plan at this time.

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Who do I contact regarding stock certificate matters?

Shareholders of record should contact our transfer agent, American Stock Transfer & Trust Company, for questions regarding stock certificates, including changes of address, name, or ownership; lost certificates; or to consolidate multiple accounts. Their contact information is as follows:

In writing:

    American Stock Transfer & Trust Company
    6201 15th Avenue
    Brooklyn, NY 11219

By telephone: 866 / 714-7297
Via email:info@amstock.com
Via Internet:www.amstock.com

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Who is CarMax's independent auditor?


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What is CarMax's fiscal calendar?

Our fiscal year begins on March 1 and ends on February 28 or 29. Interim periods are calendar-month based. Interim quarters end on May 31, August 31, November 30, and February 28 or 29.

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Does CarMax franchise its operations?

We do not franchise our operations, and we have no plans to franchise in the foreseeable future.

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How many retail stores does CarMax currently operate? How many stores does the company plan to open next year?

As of December 1, 2019, we operated 213 used car stores in 105 television markets. As of that date, we also operated weekly or bi-weekly wholesale auctions at 74 of our retail locations.. We plan to open 13 stores during the fiscal year ending February 28, 2020, and a similar number during the fiscal year ending February 28, 2021. A listing of our existing locations and planned store openings can be found in the “Investor Materials” section under the “Financial Reports” tab on this site.

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Contact Information

Investor Relations Department
(804) 747-0422 x 7865

Stacy Frole
Vice President, Investor Relations

Jessica Schroeder
Senior Manager, Investor Relations

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