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Buffett’s Conglomerate Sees Slight Retail Drop

Feb 27, 2018 3:11 AM   By Rapaport News
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RAPAPORT... Revenue from the retail division of Warren Buffett’s Berkshire Hathaway slipped 0.2% to $15.06 billion last year, the company reported Saturday.

The decline in the segment, which includes jewelry chains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, stemmed primarily from the automotive sector. Excluding the car business, retail sales — including at those jewelers — increased 1.7%. Pre-tax earnings for the entire retail unit jumped 19% to $785 million.

Seperately, revenue from manufacturing of consumer products, including from jewelry maker Richline, rose 10% to $12.13 billion.

Image: Joe Mabel 
Tags: ben bridge, Berkshire Hathaway, borsheims, Helzberg, Jewelry, Rapaport News, richline, warren buffett
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