CarMax Inc. (NYSE:KMX) reported results for the second quarter ended August 31, 2011. Net sales and operating revenues increased 11% to $2.59 billion from $2.34 billion in the second quarter of last year. Comparable store used unit sales declined 2% for the quarter. Total used unit sales decreased 1% in the second quarter. Total wholesale unit sales increased 23% in the second quarter. Net income increased to $111.9 million, or $0.49 per diluted share, compared with $107.9 million, or $0.48 per diluted share, earned in the second quarter of fiscal 2011.

CarMax, a member of the Fortune 500 and the S&P 500, and one of the Fortune 2011 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 106 used car superstores in 51 markets.

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