Paint retailer hikes up prices as ‘demand remains strong’
Sherwin-Williams announced Tuesday that “demand remains strong” for its paint and other products, forcing the retailer to hike prices 7 percent beginning in August. The company blamed rising costs of raw materials for the price increases — a pandemic trend as consumers have changed their purchasing behavior and supply chains have gotten messed up around the world, CNN reports. Demand for residential paint jobs — both fixer-uppers and new homes — has remained strong, and the industrial side of its business has been recovering faster than expected. CEO John Morikis...