Consumer concerns about tariffs fueled CarMax Inc.'s sales in its first fiscal 2026 quarter, not its claimed market strength, according to an investor suit over disappointing Q2 results.
The second-quarter results, announced Sept. 25, caused the stock to plunge 20%, closing at $45.60 per share that day, Jason Cap says. He filed his proposed class action Monday in the US District Court for the District of Maryland.
The case is one of the first based on consumer spending stemming from what CarMax CEO William Nash called “tariff speculation” in March and April of this year. CarMax’s 2026 fiscal year began ...
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