Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Acquisitions Spur Buffett’s Retail Growth

Aug 11, 2016 7:55 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Berkshire Hathaway, the conglomerate chaired by Warren Buffett, reported retail revenue increased 6 percent to $3.81 billion in the second quarter of 2016. Growth was driven by acquisitions of an automotive dealer and a motorcycle gear retailer, while the business unit also includes jewelry stores Borsheims, Helzberg and Ben Bridge.

Sales from Berkshire Hathaway’s consumer-product manufacturing businesses, including jewelry unit Richline Group, surged 19 percent to $2.85 billion. The increase was also attributed to growth at businesses other than jewelry. Berkshire Hathaway’s group revenue increased 6 percent to $54.46 billion and profit jumped 25 percent to $5 billion during the quarter.

During the first six months of the year, retail revenue surged 29 percent to $7.34 million and sales at the consumer-product manufacturing units increased 13 percent to $5.25 billion.
Tags: ben bridge, Berkshire Hathaway, borsheims, Helzberg, Rapaport News, retail, richline, richline group, warren buffet
Similar Articles
Charles & Colvard lab-grownCharles & Colvard Embraces Lab-Grown Diamonds
Sep 21, 2020
Charles & Colvard, the producer of synthetic-moissanite jewelry, has launched...
LVMH and Tiffany Lock Horns over Trial Timing
US Retail Sales Continue Rebound in August

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us