Hardware Retailing The Industry's Source for Insights and Information
The Sherwin-Williams Company ended its second quarter of 2021 with an increase in both net sales and gross profit from the same quarter in 2020. Net sales from stores in Q2 in the U.S. and Canada increased 19.3 percent, while consolidated net sales were up 16.9 percent to $5.38 billion. Gross profits tallied $2.4 billion, an increase of 9.2 percent over the second quarter 2020.
DIY sales were down double-digits as consumer demand returned to normal levels, but pro architectural end markets and interior paint, exterior paint and spray equipment experienced double-digit growth in Q2.
“We delivered solid performance in the second quarter driven by robust architectural paint demand in The Americas Group and strong demand across our industrial end markets, which more than offset the return to more normal DIY end market demand levels,” says chairman, president and chief executive officer, John G. Morikis. “Along with the strong demand, we also implemented pricing actions to offset the significant, sustained raw material inflation that pressured our gross margin in the quarter.”
