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Berkshire Hathaway’s jewellery retail division records 12% loss
The unit comprises of Borsheims Jewelery, Herlzberg Diamonds and Ben Bridge Jeweler
By: Diamond World News Service
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Mar 3 2010 5:52PM
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Reference: 4715  

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Revenues dipped by 12 percent for the jewellery retail division of Berkshire Hathaway, in 2009, a company under the Warren Buffett umbrella. The jewellery unit recorded a pre-tax loss for the year. Berkshire has not reported the individual sales performance for its jewellery unit, but has clubbed it with its other retail ventures including four home furnishing companies and See’s Candies. Total retail revenues dipped 8 percent to $2.87 billion, and pre-tax earnings stood almost unchanged at $161 million.

Berkshire Hathaway’s jewellery unit comprises of Borsheims Jewelery, Herlzberg Diamonds and Ben Bridge Jeweler. The company attributed lowered consumer demand in recession to be the factor affecting its sales in 2009. Berkshire Hathaway recorded 4 percent increase in revenues to $112.5 billion in 2009 and 61 percent increase in net income to $8.06 billion, reports say.

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