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NFM was founded in 1937 by Belarus-born Rose Blumkin, who was known as Mrs. B., in Omaha, Nebraska, United States. Under the motto "sell cheap and tell the truth," [1] she worked in the business until age 103. In 1983, Mrs. B. sold a majority interest to Berkshire Hathaway on a handshake deal with Warren Buffett for $60 million. [1] [2] [3]
Rose Blumkin (née Gorelick; December 3, 1893 – August 9, 1998) was an American businesswoman who founded the Nebraska Furniture Mart in 1937. [1] Businessman Warren Buffett said of her, "One question I always ask myself in appraising a business is how I would like, assuming I had ample capital and skilled personnel, to compete with it.
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A closeout or clearance sale (also called a closing down sale in the United Kingdom [1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy . [ 2 ]
The L'Oréal family’s heiress, Francoise Bettencourt Meyers, closed 2023 on a high note as the first woman whose fortune notched $100 billion.. But the tables have turned in 2024 as Bettencourt ...
Bettencourt Meyers and her family own about 35% of the beauty group, which was passed on from her mother, Liliane, after she died in 2017. The heiress is known to be private, so little is known ...
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