Sherwin-Williams posts robust sales gain

Sherwin-Williams reported a 12.1% sales increase and a corresponding boost in income for the second quarter.

The company took in net sales of $3.04 billion over the three months ended June 30, up from $2.71 billion in the second quarter of 2013.

The increase was largely buoyed by a 17.2% increase in net sales for the Paint Stores Group, due in large part to higher architectural paint sales volume.

This translated to a 13.3% boost in net income: $291.45 million in 2014, compared with $257.29 million in 2013.

"We are pleased with the continued strong positive sales and earnings-per-share momentum," said chairman and CEO Christopher Connor.

Connor added that the Comex acquisition is exceeding performance expectations. Additionally, 33 net new stores in the Paint Stores Group are expected to be topped off by 47 to 57 more for the year.

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