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Berkshire Hathaway’s Retail Sales Soar in 1Q
May 9, 2016 9:58 AM
By Rapaport News
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RAPAPORT... Warren Buffett’s Berkshire Hathaway reported revenue from
its retail business surged in the first quarter off the back of two acquisitions
in the automotive sector last year.
The company bought Berkshire Hathaway Automotive, formerly
the Van Tuyl Group, and Detlev Louis Motorrad-Vertriebsgesellschaft in 2015.
The retail division, which includes jewelers Borsheims,
Helzberg and Ben Bridge, saw revenue soar 68 percent to $3.53 billion while pre-tax
earnings increased 6.5 percent to $99 million.
Revenue for the entire Berkshire Hathaway group climbed 7.7
percent to $52.4 billion.
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Tags:
ben bridge, Berkshire Hathaway, borsheims, Helzberg, Rapaport News, retail, warren buffett
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