US food group Sara Lee posted a drop in third-quarter earnings today (7 May) and readjusted its full-year outlook.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more


For the period ended 28 March, the company recorded a net profit of US$165m, down from $211m in the same quarter of the previous year.


Excluding items, earnings per share rose to 25 cents from 22 cents.


Net sales also declined, dropping 6.6% to $3.03bn hurt by lower sales in the foodservice and international business segments. This was primarily due to unfavourable foreign currency exchange rates and unit volume softness resulting from challenging economic conditions in key European markets.


Excluding currency changes, divestitures and acquisitions, sales would have risen 2.1%.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Despite this, operating income for the period increased 8.3% to reach $262m. Third-quarter adjusted operating income increased 30.1% from the prior year, primarily driven by strong performance in the North American retail and international beverage segments, as well as higher commodity mark-to-market gains and lower corporate expenses.


“We continue to achieve meaningful bottom-line growth and see positive trends in the face of a very difficult global economy,” said chairman and CEO Brenda Barnes. “Of particular note, our North American retail and foodservice segments have improved adjusted operating segment income in the last four quarters and are well positioned for the full year.”


Sara Lee said it expects full-year fiscal 2009 earnings to be in the range of $0.73 – $0.79 per share, compared to its previous outlook of $0.72 – $0.79 per share.


The company said it expects its 2009 net sales outlook to be in the range of $12.8bn – $13bn.