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Sales Slip at Buffett-Owned Retail Business

May 7, 2017 8:41 AM   By Rapaport News
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Berkshire Hathaway’s retail sales declined 1.5% to $3.48 billion in the first quarter, mainly due to lower performance at its car dealership and confectionery businesses.

Revenue at Berkshire Hathaway Automotive (BHA) fell 2%, primarily because of a lower number of vehicle sales, the Warren Buffett-owned conglomerate reported Friday. Sales at See’s Candies decreased because Easter occurred in April and not March, dragging down the overall quarterly figure for the group’s retail division.

The retail unit — where pre-tax profit jumped 34% to $133 million — also includes jewelers Borsheims, Helzberg and Ben Bridge, as well as sellers of home products, furniture, party supplies and motorcycle accessories. The company did not provide results for those businesses. The group also owns jewelry manufacturer Richline Group.

Berkshire Hathaway’s group revenue grew 25% to $65.19 billion.

Image: TEDizen
Tags: and Ben Bridge, Berkshire Hathaway, Berkshire Hathaway Automotive, BHA, borsheims, car dealership, confectionery, easter, Helzberg, Jewelry, Rapaport News, retail, warren buffett
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