CarMax reported record sales and earnings in its fiscal fourth quarter and full year that ended Feb. 29.

Operations for the largest used-vehicle retailer in the U.S. were not impacted until March by the coronavirus pandemic that now is crippling the country’s economy.

In its fourth quarter, CarMax’s net sales and operating revenue rose 15 percent to $4.96 billion on total used-vehicle sales that increased 15 percent to 206,718. Net earnings grew 12 percent to $214.9 million. The company’s comparable store sales were up 11 percent in the period.

For its fiscal year, CarMax’s net sales and operating revenue increased 12 percent to $20.32 billion on total used-vehicle sales that were up 11 percent to 832,640. Comparable store sales rose 7.7 percent. Net earnings grew 5.5 percent to $888.4 million.

“We are very pleased to report record used vehicle sales and earnings per share for both our fourth quarter and the full year,” CEO Bill Nash said in a statement Thursday. “However, at this time, our thoughts, focus and concerns are with our associates, customers and communities as we navigate the challenging times we currently face.”

Since the middle of last month, CarMax has been closing waves of locations throughout the U.S. as the coronavirus that causes COVID-19 has spread. About half of the retailer’s stores are closed or running under limited operations.

Accordingly, CarMax saw strong comparable store used-vehicle sales through the first week of March, but since then sales have dropped “significantly,” the company said. Even at stores that remain open, “consumer demand has progressively deteriorated,” CarMax said in its earnings release.

“The Coronavirus pandemic is unprecedented,” Nash added. “The situation is dynamic and changing quickly, making it difficult to predict what the immediate future holds. However, we believe we have the leadership experience, liquidity, resources, financial stability and partners in place to withstand the current environment and be well positioned for when the economy and consumers rebound.”

CarMax shares fell about 6 percent to $49.32 in early trading on Wall Street. 

CarMax has put its store-expansion strategy on hold until the situation stabilizes. It had planned to open 13 stores in its current fiscal year, ending Feb. 28, 2021, and a similar number of locations in fiscal 2022.

In the fourth quarter of fiscal 2020, it opened three stores, including two in existing markets of Portland, Ore., and Nashville, Tenn., and one in a new market of Fort Wayne, Ind.