Nugget: Eddy Lampert on Same store sales (SSS)

From the 2005 Letter to shareholders: If we take a simple example of a single store, then a comparison of SSS from year to year is fairly straightforward. If a store does $1 million in sales at a 10% operating margin this year, generating $100,000 in operating profit, and does $1.1 million in sales next … Continue reading Nugget: Eddy Lampert on Same store sales (SSS)

Buffett on Nebraska Furniture Mart

In his letters to shareholders, Warren Buffett has frequently talked about Nebraska Furniture Mart and its business model. Here are the essential quotes: 1983 About 67 years ago Mrs. Blumkin, then 23, talked her way past a border guard to leave Russia for America. She had no formal education, not even at the grammar school … Continue reading Buffett on Nebraska Furniture Mart