900 House

Interior design ideas, plans, reviews, tips, tricks and much much more...

Couch potato? Warren Buffett’s Berkshire Hathaway buys stake in Restoration Hardware

New York( CNN Business) Warren Buffett must really like comfy sofas and beds. The Oracle of Omaha’s Berkshire Hathaway bought more than 1.2 million shares of high-end furniture retailer RH — aka Restoration Hardware — in the third quarter. It’s a brand-new location for Berkshire.

The investment does feel considering that Berkshire Hathaway ( BRKB) likewise owns the Nebraska Furniture Mart, RC Willey Home Furnishings, Jordan’s Furniture and Star Furniture retail chains. So it’s clear that Buffett is a fan of the home furnishings business.

According to trade publication Furniture Today, Berkshire’s furniture unit is the seventh-largest in the United States, with approximated sales of $2.1 billion in 2018. RH is a bit bigger, producing sale of $2.5 billion last year.

Leave a Reply

Your email address will not be published. Required fields are marked *

900 House © 2017 - Interior design ideas, plans, reviews, tips, tricks and much much more...