Extreme climate, the coronavirus pandemic, decrease sellable stock than a yr in the past and calendar shifts all had an affect on CarMax’s fiscal fourth quarter, because the nation’s largest used-vehicle retailer reported higher sales and lower profits.

CarMax’s web gross sales and working income grew 4.1 p.c to $5.16 billion within the interval ended Feb. 28, whereas web earnings fell 2.3 p.c to $209.9 million.

The corporate individually on Thursday introduced the acquisition of Edmunds for $404 million. CarMax had purchased a minority stake within the automotive-listings and analysis firm for $50 million final yr. The total acquisition, anticipated to be accomplished in June, will assist CarMax with its omnichannel retail efforts whereas giving Edmunds CarMax’s nationwide scale and infrastructure.

In an earnings name Thursday, CarMax CEO Invoice Nash mentioned a key piece of the partnership has led to each CarMax and Edmunds providing an instant-offer device on their web sites. Nash mentioned CarMax is already the most important purchaser of autos within the U.S., and this may additional solidify its place because it additionally appears to purchase extra shopper automobiles and vehicles, that are usually extra worthwhile.

In the meantime, CarMax’s whole used-vehicle gross sales dipped 0.9 p.c within the quarter, whereas on a same-store foundation they fell 2.3 p.c. CarMax mentioned these gross sales figures have been up within the quarter when excluding the affect of calendar shifts: On this occasion the year-earlier interval included a leap day.

Retail gross sales within the first a part of the quarter have been constrained by a surge in COVID-19 instances, which in some areas of the U.S. brought about occupancy restrictions and shelter-in-place orders. Gross sales then gathered momentum towards the top of December and into January. The robust gross sales carried into February till extreme winter climate throughout a big a part of the U.S. negatively impacted retail gross sales. Nash mentioned on the earnings name Thursday that the extreme climate led CarMax to shut greater than 65 shops in at some point. Decrease sellable stock weighed on the corporate within the interval, too.

The corporate’s gross sales in March have been robust, pushed by tax-refund and stimulus checks.

For its full fiscal yr, web income fell 6.7 p.c to $18.95 billion. Used-vehicle gross sales for the fiscal yr dropped 9.7 p.c to 751,862. Used-vehicle gross sales have been down 12 p.c on a same-store foundation.

CarMax’s web earnings for the yr declined 16 p.c to $746.9 million.

Shares of CarMax have been buying and selling down 6.2 p.c to $124.43 Thursday afternoon.

CarMax ranked No. 1 on Automotive Information‘ checklist of the top 100 used-vehicle retailers in 2019, with used-vehicle retail gross sales of 748,961.