CLEVELAND - The Sherwin-Williams Co. announced its financial results for the year and fourth quarter ended December 31, 2011. Compared to the same periods in 2010, consolidated net sales increased $989.3 million, or 12.7 percent, to $8.77 billion in the year and increased $174.8 million, or 9.2 percent, to $2.07 billion in the quarter due primarily to selling price increases, acquisitions, and higher paint sales volume in the company’s Global Finishes and Latin America Coatings Groups.
Net sales in the Paint Stores Group increased 9.1 percent to $4.78 billion in the year and increased 13.5 percent to $1.13 billion in the quarter due primarily to selling price increases and improving domestic architectural paint sales volume across most segments. Net sales from stores open for more than 12 calendar months increased 8.3 percent in the year and 12.7 percent in the quarter over last year’s comparable periods. Paint Stores Group segment profit increased to $645.7 million in the year from $619.6 million last year and decreased $1.4 million to $133.4 million in the quarter from $134.8 million last year. Segment profit in the year increased due to selling price increases partially offset by raw material cost increases and increases in selling, general, and administrative expenses. Segment profit as a percent to net sales decreased in the year to 13.5 percent from 14.1 percent in 2010 and decreased in the quarter to 11.8 percent from 13.5 percent last year.