The unexpected departure of CEO Bill Nash saw CarMax stock fall about 10% on Thursday, CNBC reports.
The company also announced a weak outlook for its current fiscal quarter of about an 8% to 12% decrease in unit sales and net earnings per diluted share.
Board member, former CEO of Lulu’s Fashion Lounge Holdings and president of Urban Outfitters Inc. David McCreight will replace Nash on an interim basis.
CarMax’s year saw a stock price drop of roughly 50% in 2025. Other car retailer stocks have increased by double digits, including Carvana’s increase of 52%.
