United States. Sherwin-Williams announced its financial results for 2013, including the last quarter ending December 31.
Compared to 2012, consolidated sales increased $651 million or 6.8 percent to $10.19 billion year-over-year and increased $235 million, or 10 percent to $2.46 billion in the fourth quarter.
The reasons for the increases were mainly due to the high sales volumes in the Paint Stores Group companies and in the acquisitions, of the latter consolidated sales increased 1.8% in the year and 4.6% in the quarter. Unfavorable changes in currency conversion rates reduced consolidated net sales by 0.8% in the year and 1.1% in the quarter.
In Latin America, net sales reported in dollars decreased 0.4 percent to $832.5 million for the year and fell 4 percent to $222.2 million in the quarter, primarily due to changes in unfavorable currency conversion rates, which were partially offset by increases in sales prices.
