America’s Car-Mart announced Monday (Oct. 8) it has opened two dealerships, one in Montgomery, Ala., and the other in Bixby, Okla. The Bentonville-based buy here, pay here used car dealer has 143 dealerships and has opened four dealerships so far in fiscal year 2019, which started May 1.
The Montgomery dealership will be managed by Pedro Mendez and will be assisted by Bill Bennett, and the Bixby dealership will be managed by Jack Pew and will be assisted by Nate DeGraff, according to a news release. This will be Mendez’s second dealership to manage and Pew’s third dealership to oversee.
Before CEO Jeff Williams was promoted to his existing position in January, he said he would focus on company growth and allow high-performing general managers to operate multiple dealerships.
Car-Mart on Aug. 16 reported first-quarter earnings rose 55.7% to $10.874 million, or $1.53 per share. Revenue rose 12% to $164.015 million for the quarter that ended July 31.
Shares of Car-Mart (NASDAQ: CRMT) were trading at $76.29, up 64 cents or 0.85%, Monday afternoon. In the past 52 weeks, the stock has ranged between $100.75 and $40.15.