Sherwin-Williams Declares Poised Taupe as Color of 2017
The Sherwin-Williams Company SHW has selected Poised Taupe as the Color of the Year for 2017. This earthy neutral shade is the company’s modern take on the color that has been a favorite for years.
Sherwin-Williams’ employees traveled globally to identify customer preferences and the latest trends to arrive at this decision. Over the past few years, the ideal neutral choice was gray, which is now changing to a warmer shade. In a survey conducted by the company, almost 40% of the participants chose to bring in the softer taupe into their house decor.
Poised Taupe has been selected from Sherwin-Williams’ Noir palette. The shade is ideal to be combined with other shades offered by the company. These include an indigo-based Stardew, a vibrant red shade of Rave Red, a deep teal-based Marea Baja as well as a sunny yellow-based Bee.
The shift from cooler to warmer shades has also been observed in commercial areas. Commercial spaces generally house more conservative colors and the preference for more woody shades prompted Sherwin-Williams to choose this hue for the next trend. The company believes this shade will provide developers and designers with a new complex and dimensional color that is also subtle to work with. It will also be showcasing a new range of warm neutral shades for commercial spaces for 2017.
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Shares of Sherwin-Williams closed around 0.3% higher at $286.68 on Aug 29.
Sherwin-Williams reported adjusted earnings of $3.99 per share for the second quarter of 2016, up 3.4% year over year on better operations in the Paint Stores and Global Finishes Groups. Revenues of $3,219.5 million in the reported quarter also increased 2% from the prior-year quarter on higher volumes in the Paint Stores Group. However, both figures missed the Zacks Consensus Estimate.
Sherwin-Williams expects consolidated net sales to increase by a low to mid-single digit percentage in third-quarter 2016, compared with the third quarter of 2015. The company anticipates earnings per share in third-quarter 2016 to be in the range of $4.10–$4.30. For 2016, the company expects consolidated net sales to increase by a low-single digit percentage compared with 2015. It expects earnings per share for 2016 to be in the range of $11.65–$11.85, against $11.16 earned in 2015.
Sherwin-Williams currently has a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Stepan Company SCL, Innophos Holdings Inc IPHS and Innospec Inc. IOSP, all sporting a Zacks Rank #1 (Strong Buy).
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