New York -- Sherwin-Williams Co. reported a sales increase of 1.4% in the first quarter ended March 31, thanks to higher volume in the Paint Stores Group. The company expects to open 70 to 80 paint stores in 2013.
Net income increased 16% to $116.2 million.
The company's consolidated net sales increased 1.4% to $2.17 billion. The Paint Stores Group saw sales increase 4.0% to $1.17 billion in the quarter. The company pointed to higher architectural paint sales volume across all end-market segments. Comp-store sales for paint stores increased 3.2%.