
Nebraska Furniture Mart (NFM) is owned by Berkshire Hathaway (NYSE: BRK.A, BRK.B), which acquired 90% of the company from founder Rose Blumkin in 1983 for $60 million on a handshake deal with Warren Buffett. NFM was founded in 1937 in Omaha, Nebraska, and is headquartered there. It operates 5 store locations in Omaha, Nebraska; Clive, Iowa; Kansas City, Kansas; and The Colony, Texas. The Texas location, opened in 2015, spans 1.8 million square feet and is the largest home furnishings store under one roof in the world. NFM is estimated to generate more than $1 billion in annual revenue, though Berkshire Hathaway does not break out individual company financials. A sixth location in Cedar Park, Texas (near Austin) is planned to open in spring 2027.
Parent Company
Acquired
1983
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Nebraska Furniture Mart | Berkshire Hathaway | Wholly owned |
Nebraska Furniture Mart was founded in 1937 by Rose Blumkin, a Belarus-born immigrant known as "Mrs. B." She started the business in the basement of her husband's shoe store in Omaha, Nebraska, with a $500 loan. Blumkin had no formal education and spoke no English when she arrived in the United States. She built the business on a simple philosophy: "sell cheap and tell the truth."
The store grew steadily over the following decades. By the 1970s and 1980s, NFM had become a regional retail powerhouse, operating from a massive store complex in Omaha that sold furniture, appliances, electronics, and flooring. The Omaha store now spans over 450,000 square feet on 78 acres. The store's reputation for low prices and vast selection attracted customers from hundreds of miles away.
In 1983, at age 89, Mrs. B sold 90% of Nebraska Furniture Mart to Warren Buffett for $60 million. The deal was done on a handshake with a short contract. Buffett bought the company without auditing her inventory or books, basing the deal on his own shopping experience at NFM and his respect for the Blumkin family. Mrs. B sold the business because she believed that if she sold before her death, her children would not fight over the company. She continued to work at the store after the sale, putting in 70-hour weeks.
In 1989, at age 95, Mrs. B's family pushed her into retirement. Annoyed, she opened a competing furniture store across the street from NFM called "Mrs. B's Clearance and Factory Outlet." Buffett had not included a noncompete clause in the original deal, so she was free to do it. Within two years, her new store was the third-largest carpet outlet in Omaha. Buffett eventually bought her out again, this time with proper legal paperwork. Mrs. B continued working at NFM until age 103. She died in 1998 at age 104.
Under Berkshire Hathaway ownership, NFM expanded beyond Omaha. In 2000, NFM acquired Homemakers Furniture and opened a second location in Clive, Iowa (a suburb of Des Moines) in 2001. The Clive store moved to a larger 65,000-square-foot space in March 2019. In 2003, NFM opened its third store in Kansas City, Kansas, in the Village West complex. The Kansas City opening was initially plagued with operational problems: the store was overwhelmed by customers, deliveries lagged by more than 30 days, and the initial rush never let up. NFM president Ron Blumkin initially told Buffett he had no plans to open another store after the Kansas City difficulties.
By 2011, that attitude had changed. NFM announced its fourth and largest location in The Colony, Texas, a far north suburb of Dallas. The Texas store opened in 2015 and spans 1.8 million square feet, with approximately 500,000 square feet of retail selling space. It is the largest home furnishings store under one roof in the world. Buffett predicted the Texas location would surpass the Omaha and Kansas City stores, each already generating approximately $450 million annually at the time.
In 2019, the company rebranded as "NFM" to reflect its expansion beyond Nebraska. The company employs approximately 1,617 people as of 2025.
In 2025, NFM announced plans to open a fifth store location in Cedar Park, Texas, near Austin. The store is scheduled to open in spring 2027. This will be NFM's second location in Texas. The Austin move is notable because it will overlap geographically with Star Furniture, another Berkshire Hathaway furniture brand based in Houston with a store in Pflugerville, an Austin suburb. Previously, Berkshire's furniture brands had been careful not to compete with each other geographically. NFM is also developing a 300-key Marriott hotel and convention center adjacent to the Cedar Park store, in partnership with Great Lakes Capital.
What does Berkshire Hathaway own?
Berkshire Hathaway owns a diverse portfolio of over 100 wholly-owned subsidiaries and significant equity investments. Key holdings include GEICO (auto insurance), BNSF Railway (freight transportation), Berkshire Hathaway Energy (utilities), Precision Castparts (aerospace components), Duracell (batteries), See's Candies (confectionery), Dairy Queen (fast food), and NetJets (private aviation). The company also holds substantial investments in publicly traded companies including Apple, Bank of America, and American Express.
Is Berkshire Hathaway publicly traded?
Yes. Berkshire Hathaway is publicly traded on the New York Stock Exchange under two ticker symbols: BRK.A (Class A shares) and BRK.B (Class B shares). Class A shares have significantly higher voting rights and are priced much higher than Class B shares. Class B shares were created in 1996 to make Berkshire stock more accessible to retail investors. The company has been publicly traded since 1988 and has never paid a dividend.
Who founded Berkshire Hathaway?
The original Berkshire Hathaway textile company was founded in 1839 by Oliver Chace in Valley Falls, Rhode Island. The modern Berkshire Hathaway was shaped by Warren Buffett, who began acquiring shares in 1962 and gained control in 1965, transforming the struggling textile manufacturer into a diversified holding company. The original textile operations were closed in 1985.
Where is Berkshire Hathaway headquartered?
Berkshire Hathaway is headquartered in Omaha, Nebraska, USA. The company has maintained its headquarters in Omaha since Warren Buffett took control, reflecting its commitment to a conservative, Midwestern approach to business despite its global scale. The corporate headquarters employs only approximately 25 people, reflecting the extreme decentralization of the organization.
How many companies does Berkshire Hathaway own?
Berkshire Hathaway owns over 100 wholly-owned subsidiaries across insurance, railroads, utilities, manufacturing, consumer products, and services. The exact number fluctuates as Berkshire makes new acquisitions and occasionally sells businesses. The company also holds significant minority stakes in publicly traded companies.
Who owns Berkshire Hathaway?
Berkshire Hathaway is owned by its shareholders, with no single controlling shareholder. Major institutional investors including Vanguard Group, BlackRock, and State Street hold significant stakes. Warren Buffett remains the largest individual shareholder and serves as Executive Chairman, while Greg Abel serves as CEO. The company has a widely dispersed shareholder base typical of large public corporations.
What is Berkshire Hathaway's revenue?
For full-year 2025, Berkshire Hathaway reported operating earnings of $44.49 billion, down from $47.44 billion in 2024. The decline was primarily driven by weaker insurance underwriting results. The company maintains one of the strongest balance sheets in corporate America with cash and equivalents exceeding $150 billion and insurance float exceeding $170 billion.
Who is the CEO of Berkshire Hathaway?
Greg Abel serves as CEO of Berkshire Hathaway, having succeeded Warren Buffett on January 1, 2026. Abel had long been considered Buffett's successor and previously led Berkshire's non-insurance operations. Warren Buffett remains Executive Chairman and continues to be involved in major capital allocation decisions.
NFM does not publish a standalone sustainability report. As a privately held subsidiary of Berkshire Hathaway, NFM does not file independent financial reports or sustainability disclosures. Berkshire Hathaway does not publish brand-level ESG data for its subsidiary companies.
Mrs. B's Founding Philosophy: NFM's ethical foundation is rooted in Rose Blumkin's principle: "sell cheap and tell the truth." This emphasis on transparent pricing and honest product descriptions remains a core part of the company's identity. In an industry where hidden fees and deceptive pricing are common, NFM's commitment to transparent pricing is a genuine differentiator.
Forbes Customer Service Recognition (2025): NFM was ranked #11 on Forbes' list of best customer service companies in the United States and #1 in the home furnishings category. This recognition is based on customer surveys and reflects NFM's investment in staff training and customer service.
No Published Environmental Data: NFM does not publish carbon footprint data, energy consumption figures, waste diversion rates, or sustainable sourcing percentages. The company does not hold B Corp certification, LEED certification, or other independent sustainability certifications that are publicly verifiable. As a furniture retailer, NFM's environmental impact comes primarily from product sourcing (wood, textiles, metals), transportation and delivery, and store energy consumption.
Community Engagement: The Rose Blumkin Foundation supports community initiatives in Omaha. The Rose Blumkin Performing Arts Center in Omaha is named after the founder. NFM supports local organizations in the communities where it operates, though the company does not publish a comprehensive list of charitable contributions.
Berkshire Hathaway Corporate Standards: As part of Berkshire Hathaway, NFM is subject to the parent company's corporate governance standards. Berkshire is known for ethical business practices and long-term value creation, though it does not publish detailed ESG reports at the subsidiary level.
Beyond these verifiable awards, NFM's recognition comes primarily from its 88-year history and its status as one of the most admired companies in the Berkshire Hathaway portfolio. Warren Buffett has consistently praised NFM in his annual shareholder letters, calling Mrs. B one of the greatest businesspeople he has ever known. Buffett once said: "Put her up against the top graduates of the top business schools or chief executives of the Fortune 500 and, assuming an even start with the same resources, she'd run rings around them."
Rose Blumkin received honorary degrees from New York University and Creighton University, recognizing her contributions to business and entrepreneurship. The Rose Blumkin Performing Arts Center in Omaha serves as a lasting tribute to her legacy.
Mrs. B's Competing Store (1989-1992): After being pushed into retirement at age 95, Rose Blumkin opened a competing furniture store across the street from NFM called "Mrs. B's Clearance and Factory Outlet." Buffett had not included a noncompete clause in the 1983 acquisition, so she was free to compete. Within two years, her new store became the third-largest carpet outlet in Omaha. Buffett eventually bought her out again, this time with proper legal paperwork. This episode is one of the most famous stories in Berkshire Hathaway lore and is frequently cited as evidence of Mrs. B's extraordinary entrepreneurial drive.
Kansas City Store Opening Problems (2003-2005): The Kansas City store opening was plagued with operational problems for nearly two years. The store was overwhelmed by customer traffic, deliveries lagged by more than 30 days, and the initial rush of customers never let up. NFM president Ron Blumkin initially told Buffett he had no plans to open another store after the Kansas City difficulties. The experience led to much more careful planning for the eventual Texas location, which opened successfully in 2015.
Cedar Park Geographic Overlap (2025): NFM's announcement of a Cedar Park, Texas store (near Austin) created the first geographic overlap between Berkshire Hathaway's furniture brands. Star Furniture, another Berkshire subsidiary, has a store in Pflugerville, an Austin suburb. Previously, Berkshire's furniture brands operated in non-overlapping territories. This has raised questions about whether Berkshire plans to consolidate its furniture brands, sell Star Furniture, or allow the two to compete in the same market. Berkshire has not publicly addressed these questions.
No Product Recalls: There have been no CPSC recalls specific to NFM as a retailer. NFM sells products manufactured by third parties, and any recalls of specific products would be initiated by the manufacturer, not by NFM. CPSC recall data does not list NFM as a recalling firm.
No Major Lawsuits: NFM has not been the subject of any major publicly reported lawsuits, regulatory actions, or scandals. The company maintains a low public profile and operates in a limited number of markets. Berkshire Hathaway's decentralized management structure means that NFM operates autonomously and is not typically involved in controversies at the parent company level.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Williams Sonoma | USA | 1980 | Premium | Global | All-ages | |
| Berkshire Hathaway | USA | 1870 | Luxury | United states | All Genders |
Furniture AppliancesOwned by Williams-Sonoma Inc.
American home furnishings and decor brand owned by Williams-Sonoma Inc., offering furniture, decor, and home accessories.
Fashion ApparelOwned by Berkshire Hathaway
American luxury jewelry retailer headquartered in Omaha, Nebraska, founded in 1870. Owned by Berkshire Hathaway (NYSE: BRK.A, BRK.B) since 1989. One of the largest independent jewelry stores in the United States.
Market Positioning: Nebraska Furniture Mart competes with 2 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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