Clint Engel
\nSame store sales up 9.9%<\/p>\n
OMAHA, Neb. — With business up and an effective growth strategy in place, furniture retailer R.C. Willey again earned praise in the annual letter to shareholders penned by Berkshire Hathaway\u00e2\u20ac\u2122s legendary Chairman Warren Buffett.
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\nIn the 2012 letter released this month, Buffett reported same-store sales for the Salt Lake City-based R.C. Willey grew 9.9% in 2012, and noted the retailer\u00e2\u20ac\u2122s closed-on-Sunday approach \u00e2\u20ac\u0153continues to overwhelm seven-day competitors as we roll out new stores in new markets.\u00e2\u20ac\u009d
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Buffett said the retailer\u00e2\u20ac\u2122s Reno, Nev., store, which opened in November, is off to a fast start, and that if a Sacramento, Calif.-area store succeeds as he expects it to, \u00e2\u20ac\u0153Californians will see many more R.C. Willey stores in the years to come.\u00e2\u20ac\u009d<\/p>\n
Investment company Berkshire Hathaway owns R.C. Willey, along with retailers Nebraska Furniture Mart, Star Furniture and Jordan\u00e2\u20ac\u2122s Furniture.<\/p>\n
When asked for his reaction, R.C. Willey President Jeff Child said, \u00e2\u20ac\u0153We\u00e2\u20ac\u2122re happy that he\u00e2\u20ac\u2122s happy. You always want to make your boss happy.\u00e2\u20ac\u009d<\/p>\n
As for future California expansion, Child wouldn\u00e2\u20ac\u2122t go much further than what the company already has said \u00e2\u20ac\u201d two Sacramento stores for sure, maybe three. A 550,000-square-foot distribution center will open in the next two weeks in Roseville, Calif., followed by R.C. Willey\u00e2\u20ac\u2122s first Sacramento-area store in Rocklin, Calif., set to open in June.<\/p>\n
\u00e2\u20ac\u0153That (distribution center) will serve Reno and the one Sacramento store initially, but it can do more than that,\u00e2\u20ac\u009d Child said. \u00e2\u20ac\u0153We\u00e2\u20ac\u2122re trying to find another great location (in the Sacramento area) and get another store up and running to help with the economies of scale.\u00e2\u20ac\u009d\u00c2\u00a0<\/p>\n
And after that? \u00e2\u20ac\u0153I\u00e2\u20ac\u2122m sure there will be more stores in California,\u00e2\u20ac\u009d Child said. He noted that greater Sacramento is the retailer\u00e2\u20ac\u2122s largest market to date, with nearly 2 million people, a few hundred thousand more than Las Vegas and nearly as populous as the state of Utah.<\/p>\n
Near the end of his letter, Buffett mentioned Nebraska Furniture Mart, which, like Berkshire Hathaway, is based in Omaha. The big store has held a \u00e2\u20ac\u0153Berkshire Weekend\u00e2\u20ac\u009d discount-pricing event during Berkshire\u00e2\u20ac\u2122s annual meetings for the past nine years. Sales for the event have gone from $5.3 million in 1997 to $27.4 million this past year.<\/p>\n
\u00e2\u20ac\u0153I get goose bumps just thinking about this volume,\u00e2\u20ac\u009d Buffett wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"
Clint Engel Same store sales up 9.9% OMAHA, Neb. — With business up and an effective growth strategy in place, furniture retailer R.C. Willey again earned praise in the annual letter to shareholders penned by Berkshire Hathaway\u00e2\u20ac\u2122s legendary Chairman Warren Buffett. In the 2012 letter released this month, Buffett reported same-store sales for the Salt […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-279","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=279"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/279\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}