UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 20, 2005
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CARMAX, INC.
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(Exact name of registrant as specified in its charter)
Virginia 1-31420 54-1821055
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(State or other (Commission (IRS Employer
jurisdiction File No.) Identification No.)
of incorporation)
4900 Cox Road, Glen Allen, Virginia 23060
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 804-747-0422
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N/A
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition
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The registrant issued a press release on June 20, 2005,
announcing its financial results for the fiscal 2006
first quarter ended May 31, 2005. The press release is
being furnished as Exhibit 99.1 hereto and is incorporated
by reference into this Item 2.02.
Item 7.01 Regulation FD Disclosure
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At the company's annual meeting of shareholders to be
conducted on June 21, 2005, Austin Ligon, the company's
President and Chief Executive Officer, will make a brief
presentation to shareholders. During such presentation, he
will disclose that the company has recently reviewed its
five-year goals as it relates to the company's expected
sales growth. The company expects net sales and operating
revenues in the range of $10 to $12 billion by fiscal year
2010. Further, the company expects annual used unit
comparable store sales increases in the range of 4% to 8%
during this time period, while continuing to expand the
company store base by 15% to 20% annually.
The company cautions readers that the statements contained
in Item 7.01 about the company's five year goals and
expected sales and store base growth are forward-looking
statements made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are based upon management's
current knowledge and assumptions about future events and
involve risks and uncertainties that could cause actual
results to differ materially from anticipated results. For
more details on factors that could affect expectations, see
the company's Annual Report on Form 10-K for the fiscal
year ended February 28, 2005, and its quarterly or current
reports as filed with or furnished to the Securities and
Exchange Commission.
Item 9.01 Financial Statements and Exhibits
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(c)Exhibits The following exhibit is being furnished pursuant to Item
2.02 above.
99.1 Press release, dated June 20, 2005, issued by CarMax, Inc.,
entitled "CarMax Reports Record First Quarter Results;
Releases Second Quarter Expectations"
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CARMAX, INC.
By: /s/ Keith D. Browning
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Keith D. Browning
Executive Vice President
and Chief Financial Officer
Date: June 20, 2005
INDEX TO EXHIBITS
Exhibit
Number Exhibit
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99.1 Press release, dated June 20, 2005, issued by CarMax, Inc.,
entitled "CarMax Reports Record First Quarter Results;
Releases Second Quarter Expectations"