CarMax Inc

Good morning. My name is Carol, and I will be your conference operator today. At this time, I would like to welcome everyone to the CarMax Fiscal 2020 Fourth Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. I would now like to turn the call over to Stacey Froehling, Vice President, Investor Relations.

Thank you, Carol. Good morning, 24th Quarter and Year-End Earnings Conference call. I'm here today with Bill Nash, our President and CEO, Tom Reedy, our Executive Vice President of Finance, and Enrique Mayor Mora, our Senior Vice President and CFO. Let me remind you, our statements today regarding the company's future business plans, prospects, and financial performance are forward-looking statements we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the management's consent that involve risks and uncertainties that could cause actual results to differ materially from our expectations. And providing projections and other forward-looking statements intent or obligation to update them. For additional information on important factors that could affect these expectations, please see the company's for the fiscal year ended Should you have any follow-up questions after the call, please feel free to contact our Investor Relations Department at 804-747-0422, extension 788. Let me thank you in advance for asking only one question and getting back in the queue for more follow-ups. Bill?

Thank you, Stacey. Good morning, everyone, and thanks for joining us. As you read in the earnings release this morning, we delivered record used vehicle sales and EPS for both our fourth quarter and full year results. And we did this while maintaining attractive GPUs and undergoing the largest transformation in our company's history. For calendar 2019, we also grew our comp market share of zero to 10-year-old vehicles to 4.7%, which was an increase of 4.2%. While we're extremely proud of this performance, Given the rapidly evolving and unprecedented time that we currently are in, we are not going to repeat the earnings commentary included within this morning's release. Instead, we would like to take this time to focus on the current environment and answer any questions you may have. First and foremost, our thoughts are with our communities. I also want to thank those who are battling this pandemic on a day-to-day basis. Over the past few weeks, we've put significant measures in place to reduce the risk of exposure and further spread of the virus in our communities. The health and safety of our associates, customers, and our communities are very important to us. We are following the mandates of public health officials and government agencies. Cleaning measures, social distancing guidelines, and in many locations, our team has also done a great great job in mobilizing our associates at corporate locations to work remotely from home with only a critical few remaining in our offices. In the meantime, we remain committed to living our values. We are currently providing 14 days to our associates who have been impacted by store closings or required to be quarantined. In addition, we are assessing options for those to go beyond 14 days. We also continue to give back to our communities by supporting our national partners in their response to the coronavirus. Approximately half of our stores are currently closed or running with limited operations. In place, developing and implementing plans for multiple scenarios as this is a dynamic situation, closing daily. Our goal is to keep our locations open as long as possible to support the providing income to our associates. Throughout this time, we will consider the requirements provided by each locality. Within our news release, our omni-channel experience was available to approximately 60% of our customers. Within our marketing markets, we are pivoting and implementing our omni-channel experience, such as online sales progression and curbside or express pickup, as quickly and broadly as possible, given the current needs of our customers. insights into March sales to allow visibility into current conditions. In all of my years at CarMax, I've never experienced a month like we had in March. The positive momentum experienced this past year carried into the first week of March.