April 11 (Reuters) - Pre-owned vehicle retailer CarMax ( KMX )

posted a nearly 27% drop in fourth-quarter profit on

Thursday, hurt by decreased profitability from units sold.

Amid a skewed supply of new cars during the pandemic, CarMax ( KMX )

and other used-car retailers had bought more vehicles at

inflated car prices.

However, improved supply of new vehicles forced used-car

retailers to cut spending and offer heavy discounts on vehicles.

In some cases, this led to vehicles costing less than the price

they were acquired for.

Net income in the quarter ended Feb. 28 fell to $50.3

million, or 32 cents per share, compared with $69 million, or 44

cents per share a year ago.