Slow economy and shifting tastes hammer CarMax

carmaxfreshCarMax Inc.’s quarterly profit fell 55%, hit by a slowing economy and weaker consumer sentiment, and the used-car retailer said Wednesday it would suspend its guidance for the rest of the fiscal year.

Fuel-hungry light trucks and sports utility vehicles brought lower than expected sales, while

Gross profit per car fell 8.5% to $2,564.

RBC characterized the outlook suspension as CarMax “simply throwing up their hands as they can no longer read the business with any level of certainty.”

Read more at MaketWatch.

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