Car-Mart opens dealership No. 117
by October 18, 2012 3:39 pm 182 views
America's Car-Mart Inc. added a new dealership to the company’s growing fleet. Store No. 117 recently opened in Oxford, Miss., according to a filing with the Securities and Exchange Commission.
"Oxford is our fourth location to open in Mississippi. It is the type of community that we consider to be ideal for our expansion plans," said Hank Henderson, company president and CEO. " With each new dealership we have an opportunity to provide our excellent service to more customers and to earn their repeat business in the future. The Oxford dealership will be managed by Curtis Valentine who is very excited to lead our efforts at this great new Car-Mart location."
The company operates dealerships in nine states and is the largest buy-here, pay here auto retailer in the country.
“Car-Mart will continue to focus on increasing sales volumes at our existing dealerships and at the same time add great new locations," said Jeff Williams, chief financial officer. "Oxford represents our third new dealership for fiscal 2013 and our current plans are to open an additional seven between now and the end of the current fiscal year.”
Williams said the company has a sound financial footing which allows it to serve more than 55,000 customers.
“We continue to expect to open additional dealerships at an approximate 10% annual rate beyond fiscal 2013,” Williams said.
Shares of America’s Car-Mart closed Thursday (Oct. 18) at $41.23, down $1.23. For the past 52-weeks the share price has ranged from a $49.20 high to a $29.44 low.