United States. Sherwin-Williams announced its financial results for the first quarter ended March 31, 2018. Compared to the same period in 2017, consolidated net sales increased $1.20 billion, or 43.6%, to $3.97 billion in the quarter, primarily due to the addition of Valspar sales, sales price increases and increased paint sales volume at The Americas Group.
Excluding Valspar sales, net sales from Sherwin-Williams' core operations increased 4.9% in the quarter. As a result of the new revenue standard (ASC 606), some advertising support that was previously classified as sales, general, and administrative expenses is now classified as a reduction in revenue with no effect on net income. The new revenue standard did not have a material impact on consolidated net sales.
Net sales at The Americas Group increased 6.6% to $2.08 billion in the quarter primarily due to higher architectural paint sales volume in most end market segments and increases in sales prices.
Consumer Brands Group net sales increased 103.0% to $656.4 million in the quarter primarily due to the inclusion of Valspar sales and sales price increases, partially offset by lower volume sales to some of the Group's retail customers. Valspar sales increased group net sales by 108.3% in the quarter.
Performance Coatings Group net sales reported in U.S. dollars increased 153.4% to $1.23 billion in the quarter primarily due to the inclusion of Valspar sales and increases in sales prices. Valspar's sales contributed 148.1% to the Group's net sales in the quarter.
The Company purchased 600,000 shares of its common stock in the three months ended March 31, 2018. As of March 31, 2018, the Company had the remaining authorization to purchase 11.05 million common shares through purchases on the open market.
