Posted January 26, 2010
Sherwin-Williams reports 5.9% sales drop
The Sherwin-Williams Company said its fourth-quarter consolidated net sales decreased 5.9% to $1.60 billion and 11.1% to $7.09 billion in the year due primarily to weak paint sales volume.
Diluted net income per common share increased 38.1% to 58 cents per share in the quarter from 42 cents per share in the fourth quarter 2008 and decreased 5.5% to $3.78 per share in the year from $4.00 per share in 2008.
By segment, net sales in the Paint Stores Group decreased 11.4% in the quarter to $920.2 million; sales in the Consumer Group decreased 2.2% to $240.1 million in the quarter; and quarterly sales of the Global Finishes Group increased 5.5% to $437.1 million.
