See’s Candies Posts Record Numbers

(BRK.A), (BRK.B)

Berkshire Hathaway’s See’s Candies is recording record sales, See’s CEO Pat Egan said at the 2022 Berkshire Hathaway annual meeting.

Egan credits much of the company’s growth to its ecommerce, which has doubled in the past few years. The company shipped 2 million packages in 2021.

While Berkshire doesn’t breakout See’s revenues in its annual report, the candy maker reportedly had gross revenues in excess of $400 million with $80 million in net profits.

See’s has long been a regional brand with its over 200 brick and mortar locations mostly in the western half of the U.S. , although it opened a shop in Manhattan in 2017, and now has overseas locations in the UAE, Hong Kong, Metro Manila, Central Singapore, and Taipei City.

© 2022 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 a 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.

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