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Rapaport News
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Sales Slip at Buffett-Owned Retail Business
Division that includes jewelers Borsheims, Helzberg and Ben Bridge drops 1.5%.
May 7, 2017 8:41 AM
By Rapaport News
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RAPAPORT... Berkshire Hathaway’s retail sales declined 1.5% to $3.48
billion in the first quarter, mainly due to lower performance at its car dealership
and confectionery businesses.
Revenue at Berkshire Hathaway Automotive (BHA) fell 2%,
primarily because of a lower number of vehicle sales, the Warren Buffett-owned
conglomerate reported Friday. Sales at See’s Candies decreased
because Easter occurred in April and not March, dragging down the overall quarterly
figure for the group’s retail division.
The retail unit — where pre-tax profit jumped 34% to $133
million — also includes jewelers Borsheims, Helzberg and Ben Bridge, as well as
sellers of home products, furniture, party supplies and motorcycle accessories.
The company did not provide results for those businesses. The group also owns jewelry manufacturer Richline Group.
Berkshire Hathaway’s group revenue grew 25% to $65.19
billion. Image: TEDizen
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Tags:
and Ben Bridge, Berkshire Hathaway, Berkshire Hathaway Automotive, BHA, borsheims, car dealership, confectionery, easter, Helzberg, Jewelry, Rapaport News, retail, warren buffett
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