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Berkshire Hathaway's 2010 Retail Sales +2%

Feb 27, 2011 3:43 AM   By Avi Krawitz
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RAPAPORT... Berkshire Hathaway reported that revenues from its retail operations rose 2 percent year on year to $2.9 billion in 2010. The group’s retail division includes three jewelry businesses – Borsheims, Helzberg Diamonds and Ben Bridge – four home furnishings businesses and See’s Candies.

Pre-tax earnings from the retail unit increased 22 percent to $197 million. The company explained that the rise in earnings was due to the “modest increase in sales and ongoing cost containment efforts. Berkshire Hathaway stressed that the year on year comparisons were easy given declines during the Great Recession.

"Throughout 2008 as the impact of the economic recession in the U.S. worsened, consumer spending declined and these conditions continued in 2009,” the company stated.    

Tags: Avi Krawitz, Ben Bridge Jeweler, Berkshire Hathaway, Borsheim's Jewelry, Helzberg Diamonds
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