Sales up 8% in Kansas City, 6% in Omaha<\/p>\n
OMAHA, Neb. \u00e2\u20ac\u201d Investor Warren Buffett said in his annual letter to shareholders that in a down year for some retailers, earnings at Nebraska Furniture Mart hit a record in its Omaha and Kansas City, Kan., stores.<\/p>\n
Buffett did not quantify the earnings. But he said the stores each had sales of about $400 million. Sales at Kansas City increased 8%, while in Omaha the gain was 6%.
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\n\u00e2\u20ac\u0153These, by some margin, are the two top home furnishings stores in the country,\u00e2\u20ac\u009d the chairman of holding company Berkshire Hathaway wrote in his much-anticipated yearly letter.<\/p>\n
Buffett praised the Blumkin family, which has operated Nebraska Furniture Mart for decades, for the store\u00e2\u20ac\u2122s success.<\/p>\n
\u00e2\u20ac\u0153Credit the remarkable Blumkin brothers, Ron and Irv, for this performance. Both are close personal friends of mine and great businessmen,\u00e2\u20ac\u009d said Buffett.<\/p>\n
In addition to Nebraska Furniture Mart, Berkshire also owns furniture retailers R.C. Willey Home Furnishings, Star Furniture and Jordan\u00e2\u20ac\u2122s Furniture. The retail group also includes Borsheims, Helzberg and Ben Bridge jewelry retailers and See\u00e2\u20ac\u2122s Candies.<\/p>\n
Berkshire Hathaway\u00e2\u20ac\u2122s retail group reported revenues of $3.4 billion in 2014, up $63 million or 2% versus 2013. Furniture segment revenues were not reported.<\/p>\n
Furniture\/Today reported estimated sales for the furniture division of $1.3 billion in 2013 and $1.2 billion in 2012.<\/p>\n
Also in the letter, Buffett also extended his usual invitation to shareholders to shop at Nebraska Furniture Mart during \u00e2\u20ac\u0153Berkshire Weekend\u00e2\u20ac\u009d discount pricing in early May.<\/p>\n
\u00e2\u20ac\u0153We initiated this special event at NFM 11 years ago, and sales during the Weekend grew from $5.3 million in 1997 to $30.9 million in 2014. This is more volume than most furniture stores register in a year,\u00e2\u20ac\u009d Buffett said.<\/p>\n
Berkshire Hathaway, with insurance, energy, retail and housing holdings, reported net earnings of $13.2 billion in 2014 versus $11 billion in 2013 and $8.5 billion in 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sales up 8% in Kansas City, 6% in Omaha OMAHA, Neb. \u00e2\u20ac\u201d Investor Warren Buffett said in his annual letter to shareholders that in a down year for some retailers, earnings at Nebraska Furniture Mart hit a record in its Omaha and Kansas City, Kan., stores. Buffett did not quantify the earnings. But he said […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5235","post","type-post","status-publish","format-standard","hentry","category-furniture-indonesia-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/5235","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=5235"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/5235\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=5235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=5235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=5235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}