Advanced Search

Sales Slip at Buffett-Owned Retail Business

May 7, 2017 8:41 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share

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
Similar Articles
Adobe Cyber Monday 140Cyber Monday Sales Fall Short of Forecasts
Nov 30, 2021
US consumer spending missed expectations on Cyber Monday as supply issues disrupted purchasing patterns and limited retailers’
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.