Berkshire Hathaway reports that sales of its apparel and footwear brands, which include Russell Athletics and Brooks, declined by 1.9 percent last year. This was equivalent to $81 million, reflecting lower footwear sales and a divestment by Fruit of the Loom in 2015, the investment group notes in its annual report. However, the group adds that pre-tax earnings of its apparel and footwear business increased by 22 percent for the year, chiefly due to lower restructuring costs and a loss in 2015 from the above disposal, which was partly offset by lower earnings from the group's footwear business. The segment comprises Russell and Brooks along with Garan, H.H. Brown Shoe Group and Justin Brands. They are part of the holding company's consumer products division, which further includes Duracell batteries, Forest River leisure vehicles, Larson Juhl framing products and Richline jewelry.

Topics