Overview
- Phase 2 folded underperforming lots into nearby higher-performing dealerships across Alabama, Arkansas, Georgia, Kentucky, Oklahoma, and Texas.
- Five Arkansas sites were closed—Hope, Malvern, Springdale, Van Buren, and one of two Russellville locations.
- The company has consolidated 18 locations across two phases and now operates 136 dealerships in 12 states.
- Customers from closed stores are being redirected for sales, service, and collections at nearby locations to maintain access.
- Management cites a challenging market and a recent earnings miss, reiterates a prior estimate of about $31.4 million in annualized savings when all three phases conclude, and saw little immediate stock reaction as shares closed at $27.61, down $0.07.