Cleveland, OH, July 22—Paintmaker, retailer Sherwin-Williams in its second quarter reported income increase of 14.8 percent, to $126.4 million. Diluted earnings per common share were $.87 per share compared to $.75 per share in 2003.
Consolidated net sales increased 9.9 percent, to $1.62 billion in the second quarter.
Net sales in the company’s paint stores segment increased $102.9 million, or 11.0 percent, to $1.04 billion in the quarter. The company reported same-store sales gains of 9.9 percent in the quarter.
The company said it expect earnings per share in the third quarter to be in the range of $.88 to $.93 per share . It raised its expectations of the annual net sales to the the high single digits and it earnings per share expectations to a range of $2.58 to $2.66.
