Warren Buffett warns on US inflation

Berkshire’s profit fell in the first quarter 2022-04-30 09:15:53

Warren Buffett warns on US inflation

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Berkshire Hathaway owns a lot of consumer businesses. So it shouldn’t be a surprise economic inflation He is a concern for the Warren Buffett conglomerate. Jim Webber, CEO of Berkshire-owned Brooks footwear and apparel, said the company was affected by supply chain concerns in 2021. This has slowed sales slightly.

Now Brooks is also dealing with rising costs for commodities and other raw materials, such as rubber and plastics.

“We have been selectively raising prices where we thought we could,” Webber said, adding that higher energy expenditures could be a permanent problem that will affect shipping costs.

But despite those challenges, Webber said sales were still strong in 2021 and revenue growth should also be good in 2022. Brooks reported annual revenue of more than $1 billion last year, a record for the company.

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