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Berkshire Hathaway’s Retail Revenue +15% in 2013
Mar 3, 2014 4:29 AM
By Ronen Shnidman
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RAPAPORT... Berkshire Hathaway reported that revenue from its retail division grew 15 percent year on year to $4.29 billion in 2013. Pre-tax earnings at the division, which includes Ben Bridge Jeweler, Borsheims Fine Jewelry, Helzberg Diamonds, Richline Group and non-jewelry brands, climbed 23 percent, which amounted to an increase of $70 million. The company did not disclose total profit for the division.
Berkshire explained that revenue and profit at its jewelry business rose during the year, growth at its retail division was driven by its acquisition of party and school supplies retailer Oriental Trading Company at the end of 2012. The retail division is also comprised of four home furnishing companies and See’s Candies. Berkshire did not provide separate fourth-quarter figures for the retail unit.
For the full group, Berkshire Hathaway's revenue grew 6 percent to $182.15 billion in 2013, while net earnings increased 30 percent to $19.85 billion. The company, led by billionaire Warren Buffett, reported the net earnings attributable to shareholders jumped 32 percent for the year to $11,859 per share.
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Tags:
Berkshire Hathaway, borsheims, diamonds, Jewelry, Ronen Shnidman, warren buffett
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