CarMax Inc. (NYSE:KMX) reported results for the second quarter ended August 31, 2011. Net sales and operating revenues increased 11% to $2.59 billion from $2.34 billion in the second quarter of last year. Comparable store used unit sales declined 2% for the quarter. Total used unit sales decreased 1% in the second quarter. Total wholesale unit sales increased 23% in the second quarter. Net income increased to $111.9 million, or $0.49 per diluted share, compared with $107.9 million, or $0.48 per diluted share, earned in the second quarter of fiscal 2011.

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