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Get filing alertsRisk Profile Improvements
- Goodwill Impairment (new) — Company recorded a $141.3 million goodwill impairment charge in fiscal 2026, indicating a material write-down of acquired intangible assets not present in the prior year.
CarMax names new CEO, cuts 2,252 jobs, takes $141M goodwill charge amid sales pressure
Filed April 15, 2026 · Period ending February 28, 2026 · Compared to 10-K Apr 11, 2025 · ~2 min read
Key Changes
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Keith Barr appointed CEO in March 2026 after Bill Nash stepped down in December 2025; company acknowledged it 'needs change' after recent underperformance and paused $642.8M buyback program in Q4 due to leverage above target.
MD&A: Leadership & Capital Allocation verify on EDGAR → -
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Workforce reduced by 2,252 associates (7.5%) including 30% CEC headcount cut; restructuring charges totaled $49.8M targeting $200M annual SG&A savings by end of fiscal 2027, though full impact delayed to fiscal 2028 by offsetting factors.
MD&A: Restructuring verify on EDGAR → -
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Goodwill impairment charge of $141.3M recorded in fiscal 2026, reducing net earnings by $0.96 per diluted share; no such charge in prior year.
MD&A: Non-GAAP Reconciliation verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Generated by AI · Jun 25, 2026 3:07 PM