31st Annual Gabelli Automotive Aftermarket Symposium October 30, 2007 Mike Dolan Executive Vice President and Chief Administrative Officer - PowerPoint PPT Presentation

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31st Annual Gabelli Automotive Aftermarket Symposium October 30, 2007 Mike Dolan Executive Vice President and Chief Administrative Officer

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Title: Davenport / Kennedy Capital January 17, 2007 Author: spfeiffer Last modified by: spfeiffer Created Date: 1/16/2007 6:58:13 PM Document presentation format – PowerPoint PPT presentation

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Title: 31st Annual Gabelli Automotive Aftermarket Symposium October 30, 2007 Mike Dolan Executive Vice President and Chief Administrative Officer


1
31st Annual Gabelli Automotive Aftermarket
Symposium October 30, 2007Mike DolanExecutive
Vice President and Chief Administrative Officer
2
Forward-Looking Statements
  • This presentation contains forward-looking
    statements, which are subject to risks and
    uncertainties. Additional discussion of factors
    that could cause actual results to differ
    materially from managements projections and
    estimates is contained in the CarMax, Inc. SEC
    filings. The Company disclaims any intent or
    obligation to update its forward-looking
    statements.

3
The CarMax Advantage
  • Unique consumer offer
  • Proprietary processes and systems
  • Skilled, dedicated people
  • Diversified profit base

4
Unique Consumer Offer
Ease of Shopping
  • Low, no-haggle prices
  • Huge selection
  • carmax.com
  • Customer-friendly service

Peace of Mind
  • Guaranteed quality

5
CarMax Today Nations largest used car retailer
Hartford / New Haven
Milwaukee
  • 84 used car superstores
  • 38 markets
  • Store growth
  • FY07 10 stores 15
  • FY08 13 stores 17 (Est.)

Chicago
Columbus
DC / Baltimore
Sacramento
Salt Lake City
Indianapolis
Kansas City
Cville
Las Vegas
Louisville
Richmond
Va. Beach
Fresno
Wichita
Greensboro
Knoxville
Nashville
Raleigh
Los Angeles
Oklahoma City
Greenville
Charlotte
Albuquerque
Memphis
Tucson
Dallas
Columbia
Atlanta
Birmingham
Austin
Jacksonville
Orlando
San Antonio
Houston
Tampa
Small markets (1)
Mid-sized markets (28)
Miami
Large markets (9)
6
Consumer and Business Recognition
  • 25 awards in the last 2 years
  • Best of Atlanta , Austin, Columbia,
  • Sacramento, San Antonio consumer awards
  • BBB award for Business Ethics in Atlanta,
    central
  • Indiana, central North Carolina and others
  • American Business Award Stevie Award for
  • Best Overall Company
  • 2 million cars sold as of December 2006

7
Proprietary Processes and Systems 14 Years of
Refinement
8
Skilled, Dedicated Associates
  • THE CARMAX CULTURE

Three years running (2005 - 2007)
  • Comprehensive, formal training in four
    functional areas
  • Classroom and on-line training
  • Mentoring

9
Diversified Gross Profit ContributionFY 2007
9
10
CarMax Lifecycle
1993 2000 2003 2007 Future
Start up Stop growth to refine model Restart growth Proven concept
15 annual store growth
11
Future Sources of Growth
Store Expansion
  • 84 stores today
  • CarMax has stores in markets where
  • 40 of the U.S. population lives
  • 15 - 20 new store openings

12
Future Sources of Growth
Market Share Expansion
  • Comp used unit sales (5-year average)
  • CarMax 6
  • Public new car dealers (3)
  • Monthly used unit sales per store
  • CarMax 426
  • Public new car dealers 49

13
Strong Results FY07
Superstores
Revenues
Net Earnings
in millions
in millions
7,466
199
77
6,260
67
134
AGR 15
AGR 19
AGR 48
FY06 restated for SFAS 123R
14
CarMax Earns Attractive Returns
ROIC (1) 5-Year Average (2002 thru 2006)
ROIC ()
(2)
Source Published reports and CarMax
estimates. (1) After-tax EBIT/average invested
capital. Invested capital includes operating
leases capitalized at 8x rentals. Results not
adjusted for subsequent restatements. (2) Public
dealer average includes ABG, AN, GPI, LAD, PAG,
and SAH.
15
Future Sources of Growth
Sales Growth
  • Comp used unit growth 4 - 8
  • New store openings 15 - 20
  • Resulting FY12 revenue range 13 - 18 bn

16
New at CarMax
  • New carmax.com Search Capability
  • Give customers greater search flexibility
  • Improve site-to-store conversion
  • Provide competitive advantage

17
Current carmax.com Search Capability
18
New carmax.com Search Capability
19
New at CarMax
  • Appraisal System Enhancements
  • Better and more timely analytical data for buyers
  • Improved estimation of reconditioning costs
  • Improved customer offers and delivery mechanism

20
What is CarMax?
  • A unique and sustainable retail
  • growth story with
  • defensible competitive advantages

21
21
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