Out of these four, three stores are going to herald the entrance of the company into unchartered territories. CarMax wants to tap new market potentials using these. The stores in question are in Spokane, Washington State; in Henrietta, New York; and Dothan, Alabama. Fourth, located in Mechanicsburg, Pennsylvania is in reality present at Harrisburg, Pennsylvania. Here the retail company already has their market presence and as such, this is not a new venture by any regards. The opening of the stores is all set to give a boost to this retail giant and bring more business their way in the times to come.
CarMax is not going to stop just at the opening of the four stores. There are many more in the offing. Within June 2014, they have a grandiose vision of opening up thirteen more units at various locations. The company has already announced the location of the other nine stores, which it wants to open sometime soon. However, this retail company is not taking any chances and making its position clear from the very first. They have announced that their plans are all subject to delays that may very well occur because of the presence of unforeseen circumstances.
All dates announced by the company can change in accordance to prevalent situations. In their recently presented earning statement, CarMax has mentioned that the company expects to spend approximately $300 million for bringing their grand plans to fruition. They are planning to use this sum towards meeting capital expenses in the course of their present fiscal year. Fiscal year began from March 1, 2013.
The retail company has already started their plans of expansion with the recent opening of a store at Katy, Texas. This latest unit in their used vehicle operations began work in June itself. In Houston market, this is the fifth store of its kind from CarMax. If this new store is any indication, the coming ones are going to be much bigger in size compared to their existing facilities.
