Sees FY23 net sales down mid-single digit % to flat low 20%. "While our Q1 was strong, it is also a seasonally smaller quarter, and our outlook for the full year remains unchanged at this time," said Mr. Morikis. "Visibility remains limited, and we continue to expect a very challenging demand environment in the back half of 2023 against difficult comparisons. On the architectural side of the business, we are seeing demand softness in new residential and the Consumer Brands Group DIY. On the industrial side, Europe and China have yet to fully recover, and we’re seeing increased pressure in North America. We will continue to prioritize what we can control, by maintaining a focus on recession resilient markets, growing new accounts and share of wallet, continuing appropriate growth investments in stores and sales representatives, and managing price-cost dynamics. We remain confident in our differentiated strategy, capabilities and product and service solutions, and we continue to expect to outperform the market."
Published first on TheFly
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