Berkshire Hathaway Corp. sales across its apparel and footwear businesses increased 25.3 percent in 2021 compared to 2020, according to the holding company’s annual report. The businesses include Fruit of the Loom, Garan, H.H. Brown Shoe Group, and Brooks Sports.
The gains, according to the report, reflect “significant increases in unit sales, partly attributable to inventory restocking by certain customers, and from increased consumer demand.”
Brooks had reported separately that sales increased 31 percent in 2021.
The overall gain for Berkshire Hathaway’s apparel and footwear businesses represents a bounce back from a decline of 6.1 percent in 2020. Berkshire said that apparel and footwear revenues in the first half of 2020, particularly in the second quarter, reflected the negative effects of the pandemic, which included retail store closures, reduced or canceled orders and pandemic-related disruptions at certain of its manufacturing facilities.
Sales in the second half of 2020 recovered somewhat attributable to higher consumer demand and inventory restocking by retailers. Brooks’ revenues were higher, partly attributable to the effect of the reduced sales in 2019 that were caused by shipping delays at its new distribution facility.
The apparel and footwear businesses are part of Berkshire’s Consumer Products segment, which saw revenues increase 28.0 percent in 2021 year-over-year to $15.58 billion after growing 3.0 percent in 2020.
The Consumer Products segment also includes vehicles Forest River, batteries Duracell, custom picture framing products Larson-Juhl, and jewelry products Richline.
Pre-tax earnings in the Consumer Products segment increased 41.9 percent to $1.98 billion after improving 11.7 percent in 2020.
