carmax posted lower sales in its fiscal first quarter as inflation and rising interest rates weighed on customers but signs emerged that demand for used cars is improving the richmond va usedcar retailer said profit for the three months ended may 31 was 2283 million or 144 a share down from 2523 million or 156 a share a year earlier analysts surveyed by factset were expecting earnings of 79 cents a share revenue fell more than 17 to 77 billion from a year earlier analysts were expecting sales of 750 billion according to factset our deliberate actions are driving improved trends in the business despite the challenging macro environment chief executive bill nash said combined retail and wholesale unit sales fell by more than 11 the company said affordability challenges from persistent inflation rising interest rates tightening lending standards and low consumer confidence continued to weigh on customers comparablestore used unit sales fell by more than 11 but that marked an improvement from the 22 and 14 yearoveryear declines during last fiscal years third and fourth quarters the company bought 343000 vehicles from consumers and dealers down 5 from last year in the fiscal third and fourth quarter that figure fell 40 and 23 respectively from the yearago periods shares rose almost 9 to 8526 in premarket trading write to will feuer at willfeuerwsjcom