CarMax shares dropped nearly 5 percent on Tuesday after the company posted first-quarter results that missed Wall Street expectations.
The used-car retailer posted earnings of 90 cents per share, missing the 92-cent mark that analysts cited by Reuters expected, although wholesale unit sales increased 1.8 percent. Revenues came in at $4.13 billion, below a Reuters estimate of $4.19 billion.
CarMax's stock has steadily declined in the past year as more companies entered the used-car industry, like Beepi, Vroom and Shift Technologies.
CarMax's shares have shed more than 30 percent over the past year.
CarMax 12-month performance