Arandkei
Sep 29, 10:59 PM
$KMX —
In June, the CFO pledged price competitiveness "through more efficient operations, rather than lowering GPU."
This quarter that phrase is absent from prepared remarks. When analysts ask, it returns with a FY 2028 date and a new qualifier: "we do not necessarily need to go down that route as the first selection."
Comps grew 13%, with management attributing roughly half to FTC enforcement tailwinds and half to internally controlled actions — including the margin reduction that funded the pricing.
CAF penetration fell to 40.9% from 42.6% a year ago, against a June yardstick of "progress will be measured by our ability to grow penetration."
$200M SG&A savings upgraded from target to commitment.
#TheGapReport
0 replies
