Posted: Aug 25, 2010 9:31 AM
Updated: Aug 25, 2010 9:32 AM
Used-car dealership chain CarMax has broken ground on its first new store in more than two years.
The Richmond company said Tuesday it has begun construction on a store in Baton Rouge, its first in Louisiana.
Chief executive Tom Folliard said CarMax is eager to restart its growth plan after the most difficult period in the company's history. The company had curtailed its expansion plans in response to the recession.
But CarMax announced earlier this year that positive trends were prompting it to proceed with plans to open three stores that it had previously built. CarMax has 103 stores in 26 states.