Sherwin-Williams misses Q1 profit target as demand in North America drags
US existing home sales fell in March due to higher mortgage rates and house prices, limiting repair and remodel spend by home buyers who tend to paint before and after the sale of a home. Sales at the Sherwin-Williams's consumer brands segment, which markets and sells paint and related products to the do-it-yourself (DIY) market, fell about 7% to $811 million in the first quarter from a year earlier. The company said weak demand in North America was, however, partially offset by growth in the European markets.
