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Retail Sales Rise at Buffett-Owned Conglomerate
Nov 4, 2019 7:55 AM
By Rapaport News
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RAPAPORT... Revenue from the retail division of Berkshire Hathaway
increased 5% to $4.04 billion in the third quarter, the company reported
Saturday.
The improvement in the division, which includes jewelry
chains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, was buoyed in large
part by the company’s car business, including sales of pre-owned vehicles,
automotive financing, and repair work. Pretax earnings for the entire retail
unit climbed 2% to $188 million in the three months ending September 30.
Revenues from manufacturing of consumer products, which
includes jewelry maker Richline Group, fell 5% to $2.9 billion.
Image: A Borsheims store in the US. (Borsheims)
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Tags:
Ben Bridge Jeweler, Berkshire Hathaway, borsheims, Helzberg Diamonds, Rapaport News, richline group, warren buffett
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