(BRK.A), (BRK.B)
The Berkshire Hathaway annual meeting not only brings lots of people to Omaha, Nebraska, it also brings lots of business to Berkshire’s Nebraska Furniture Mart.
Shareholders receive a special discount during the week of the annual meeting, and Tuesday, April 28, 2015, saw sales at the furniture retailer’s Omaha store top $9 million for the day.
The previous one-day record was $8.2 million set in 2014.
Shareholders are Valuable Customers
Over 40,000 shareholders descend on Omaha the first weekend in May each year, and Nebraska Furniture Mart counts on $20 million in sales during the week of the Berkshire annual meeting. It has likely topped that this year, as Berkshire’s shareholders were coming into town having seen a 27.25% rise in the share price in 2014.
While the $9 million day is a record for the Omaha store, (and probably for any furniture retailer anywhere), it could be threatened by Nebraska Furniture Mart’s new 560,000-square-foot store in Dallas, Texas, which is already drawing huge crowds. Customers are driving from as far as 300 miles away to visit the massive store.
For more info on Nebraska Furniture Mart, read a MazorsEdge Special Report on the new Dallas store.
© 2015 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.