USA: Sara Lee profits warning
Sara Lee, the US consumer products and food group, reported a 1% drop in fiscal second-quarter income from its operations. The company, which makes hot dogs, underwear, coffee and household products blamed the shortfall on its intimates and underwear business and a slowing US economy.
Sara Lee also announced new moves in its restructuring plan, including the sale of eight of its 100-plus businesses. Food operations likely to be sold include Sara Lee Apparel Australasia, Champion Europe, several international bakery operations, Ozark Salad Co and the Spanish processed meats company Argal.
Sara Lee recently made US$638m from the $US1.57bn sale of its food service distribution business PYA/Monarch to Royal Ahold.
US food and consumer goods giant Sara Lee has announced a rise in net sales in the third quarter ended 2 April 2005 to $4.8bn from $4.7bn in the same period last year, but net income was well down....
US food and consumer goods giant Sara Lee has announced the appointment of Garry S. Berryman to the new position of chief procurement officer, effective 30 March....
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