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)
Retail Sales Rise at Buffett-Owned Conglomerate
The Bottom Line
- Berkshire Hathaway's retail division revenue rose 5% to $4.04 billion in Q3, supported mainly by automotive sales and services.
- Pretax earnings for the retail unit increased 2% to $188 million for the quarter ending September 30.
- Revenue from consumer product manufacturing, including Richline Group jewelry, decreased 5% to $2.9 billion.
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