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    Josh Shang

    Managing Director at Truist Securities

    Josh Shang is a Managing Director at Truist Securities specializing in the Industrials sector, with expertise honed through a career that began at J.P. Morgan. He has played a key role in advising and executing strategic transactions for major companies operating across diverse industrial subsectors, leveraging a strong track record of successful deal execution and client outcomes. With an MBA from Chicago Booth and a BS from the University of Maryland, Shang’s career progression includes significant investment banking experience that positions him as a trusted advisor in the field. He is registered with FINRA and holds relevant securities licenses, underlining his professional credentials.

    Josh Shang's questions to CARMAX (KMX) leadership

    Josh Shang's questions to CARMAX (KMX) leadership • Q4 2025

    Question

    Josh Shang, on for Scott Ciccarelli, asked what specific actions CarMax needs to take to increase its market share from its current level of just under 4% towards its long-term 5% target.

    Answer

    CEO William Nash responded that the company's primary focus is on growing sales and robust EPS, which will naturally lead to market share gains. He highlighted that CarMax is already gaining share from other dealers and that the initiatives discussed on the call, which improve the customer experience and operational efficiency, are the key drivers for continued growth.

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