The Sherwin-Williams Company’s sales for the first quarter were $171.1 million, a 14.9% gain over the first quarter of 2003. The company attributed the gain to a strong domestic market for architectural paint both in DIY and the contractor area and improved sales and market conditions in domestic industrial maintenance product finishes and automotive markets.
For the first quarter, the paint store segment’s sales rose 12.2% and the consumer segment’s sales rose 19.2%. Sherwin-Williams attributed the gain to new product and new customer sales and acquisitions in comparison to last year’s first quarter sales, which were affected by harsh weather conditions.
The company’s automotive finish sales rose 13.1% due to the impact of favorable currency exchange rates, continuing strength in its core collision business sector and improved OEM sales.
The firm’s international coatings sector reported a gain of 32.1%, which was impacted heavily by current exchange rates which were a vast improvement over those a year ago.