Apr 28, 2023
Paint stores lead Sherwin-Williams sales
The Sherwin-Williams Company had consolidated net sales of $5.44 billion in the first quarter of 2023, an increase of 8.9% compared to consolidated net sales of $5 billion in the first quarter of 2022. Net sales from stores in US and Canada open more than 12 calendar months increased 14.2% year over year. Net sales in the paint stores group increased 14.8% year over year to $2,859 million, primarily due to higher sales volumes across all end markets, as well as selling price increases. Net sales in the consumer brands group increased 2.4% to $872 million primarily due to selling price increases and strong growth within Latin America. Overall, the company had income before income taxes of $615 million in the first quarter, an increase of 33.3% compared to $461 million in the year-ago period.
Sign up for our Daily News Alerts to receive relevant industry news, articles, and previews for our next issue of Home Improvement Retailing. Delivered directly to your inbox. Subscribe here.