Retail Sales Rise at Buffett-Owned Conglomerate
November 04, 2019
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)
Article originally published on Diamonds.net here