It’s one of the oldest adages in the gaming ecosystem: the house always wins. That doesn’t mean the house always wins every hand or roll of the dice. But play long enough and eventually, the odds will stack decisively in favor of the casino. That’s why you need to know what you’re getting yourself involved in as the latest drama at CarMax (KMX) proved.
On Thursday, the used-car retailer reported results that were roughly in line with analysts’ expectations for the second quarter. Specifically, revenue came in at $7.07 billion, slightly pipping the consensus target of $7.03 billion. However, earnings per share landed at 75 cents, missing analysts’ estimate of 78 cents. Unfortunately, the year-ago comparisons were terrible, leading to a rush for the exits on KMX stock.
