Sherwin-Williams' Sales Rise; Expects Paint Sector to Improve This Year

Sherwin-Williams (SW) says domestic paint sales declined and raw material costs increased during the first quarter, but total revenues rose 1%, to $1.6 billion because of favorable currency exchange rates. Net income fell 13%, to $32.6 billion (30 cts/share) including a one-time 10 cts/share charge related to U.S. health legislation.  Sales in the paint stores group fell 5% to $851 million because of a decline in paint sales volume and corresponding weakness in non-paint sales. Operating profit decreased 16%, to $47.8 million because of lower volume and raw...

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