America's Car-Mart Inc. announced the opening of its 113th dealership located in Tupelo, Miss.
"Tupelo is our second dealership in Mississippi. We recently opened a dealership in Columbus, Miss. and we are very excited to be expanding our offering in the state," said William H. ("Hank") Henderson, president and CEO. "Car-Mart strives to earn the repeat business of our customers by providing quality vehicles, affordable payment terms, and excellent service."
The Tupelo dealership will be managed by Kelly Mitchell.
" Tupelo is the seventh dealership we have added in fiscal 2012. We anticipate opening a couple of additional locations between now and the end of our fiscal year which ends April 30," said Jeff Williams, chief financial officer for the buy-here pay-here dealer.
Williams said the company remains focused on increasing sales volumes at its existing stores while also expanding the overall footprint at an aggressive 10% annual rate.
To date, Williams reports Car-Mart has more than 53,000 active customers among its dealerships in nine states.
Car-Mart shares (CRMT:NASDAQ) closed at $44.76 on Wednesday (March 28). The stock traded down 96 cents from the previous day's close. In the past 52 weeks the share price has ranged from a $23.73 low to a $48.24 high.