Sherwin-Williams Cuts Profit Guidance as Demand Wanes

by | Jul 27, 2022 | Business

Sherwin-Williams cut its full-year profit view, warning that demand for its paints and coatings is deteriorating and that it needs to raise prices aggressively to protect margins.The Cleveland-based company on Wednesday lowered its outlook even as it reported a rise in second-quarter sales. It said that do-it-yourself customers in North America continue to pull back on spending. Demand is crumbling in Europe, while recovery in China has stalled, Chief Executive John Morikis said.

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