How many retail stores does CarMax currently operate? How many stores does the company plan to open next year?
As of November 1, 2009, we operated 100 used car superstores in 46 markets in the U.S. At that date, we also operated six new car franchises, all of which are integrated or co-located with our used car superstores. During the fiscal year ending February 28, 2009, we opened 11 used car superstores, including 4 production superstores and 7 non-production superstores. These openings expanded our used car superstore base by 12%. Prior to August 2008, we had planned to open used car superstores at a rate of approximately 15% of our used car superstore base each year. In August 2008, we announced that we would temporarily slow our store growth as a result of the weak economic and sales environment. During the following months, market conditions further deteriorated, and as a consequence, in December 2008, we announced that we would be temporarily suspending store growth. At that time, we had four stores currently under construction. Construction was completed on all four stores; however, onl
