Lowe’s ready to paint this spring

An inventory build at Lowe’s in preparation for the launch of a new HGTV Home brand of paint was cited as the source of strong sales growth by paint supplier Sherwin Williams.

Spring is a popular time for painting and home improvement retailers typically promote the category extensively. Lowe’s looks to be ready for the season with a new brand launching called HGTV Home by Sherwin Williams.

The products began shipping late in the first quarter and will be in all Lowe’s stores by May 1, according to Sherwin-Williams Chairman and CEO Christopher M. Connor.

Sales to Lowe’s contributed to an 8.1% increase at Sherwin-Williams consumer group where sales for the first quarter were $351.7 million. Most of the company’s growth during the period was driven by its 4,100 unit paint stores group where sales increased 7.5% to nearly $1.5 billion and same store sales increased 6.4%.