CarMax shares fall after the sales target was delayed

CarMax (KMX) shares fell sharply in early trading on Thursday. The used automotive retailer posted fourth quarter results that missed analyst estimates. The company is pushing back its goal to sell 2 million units annually "to between fiscal year 2026 and fiscal year 2030 due to uncertainty in the timing of market recovery"

Pre-owned vehicles retailer CarMax missed analysts' estimates for fourth-quarter results. The company delayed a long-term financial target, sending its shares down as much as 13% in pre-market trading. CarMax said it expects to sell over 2 million combined retail and wholesale units annually between 2026 and 2030.