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Jewelry Sales Boost Berkshire Hathaway Retail Unit

May 10, 2010 2:15 AM   By Avi Krawitz
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RAPAPORT... Berkshire Hathaway’s retail segment saw its revenues rise 3 percent to $675 million in the first quarter of 2010. The company, run by Warren Buffet, noted that the increase was primarily attributable to its jewelry businesses.

The retail unit consists of four home furnishing businesses, See’s Candies and three jewelry firms: Borsheim’s Jewelry, Helzberg Diamonds and Ben Bridge Jeweler. Their combined pre-tax retail earnings doubled from the first quarter of 2009 to total $32 million for the first quarter of 2010.

The results mark a turnaround for the business, after Berkshire’s jewelry revenues fell by 12 percent for the full fiscal year of 2009. The company did not provide separate data for each retail business in the first quarter. 

Berkshire Hathaway reported that its group revenues rose 41 percent to $32 billion in the first quarter, while its net earnings rose to $3.8 billion, compared with a loss of $1.5 billion for the previous year.

Tags: Avi Krawitz, Avi Krawitz, Ben Bridge Jeweler, Borsheim's Jewelry, Helzberg Diamonds, Jewelry
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