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.
