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The Sherwin-Williams Company (Cleveland, OH) saw its consolidated net sales decrease by $281.7 million, or 12.6%, in the second quarter of 2009 to $1.95 billion. Sales fell to $3.50 billion, or 12.8%, in the past six months. The company said that the decline was primarily due to weak paint sales volume.
The Global Finishes Group ended the quarter with net sales of $409.7 million, down 16.2%, and $772.2 million, down 18.8%, in six months. Low paint sales and unfavorable currency translation rates were partially offset by acquisitions and selling price increases.
The Paint Stores Group fell by 13.7% to $1.17 billion in Q2 and 13.3% to $2.07 billion in six months. The company said the decline was due to weak architectural paint sales volumes in the domestic new residential, residential repaint, commercial, and DIY markets, as well as significantly lower sales in industrial coatings and non-paint categories.
The company’s Consumer Group ended Q2 with a decrease of 4.5% to $366.5 million. The past six months fell by 2.4% to $654.6 million.
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