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  /  News   /  Powell: ‘Some pain’ may be required to slow inflation

Powell: ‘Some pain’ may be required to slow inflation

Carvana, the ‘Amazon of Car Dealers’, Is in Deep Trouble

When Ernie Garcia spoke with analysts during Carvana’s earnings call last month, the company’s chief executive officer said the used-car retailer’s first-quarter had been “challenging.” “Some quarters are bumpier than others,” Garcia said, according to a transcript of the call. The company had just posted a “confidence shattering quarter,” in the words of J.P. Morgan, as it reported a wider-than-expected loss of $2.89 a share, much higher than the FactSet’s expected loss of $1.44 a share.

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