Sara Lee Corp. has decided to up its bread prices in North America again amid rising wheat costs.
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The US food giant increased its bread prices by 5% in September and is in the process of another price hike across its bakery portfolio.
CFO Theo de Kool refused to comment on the size of the latest price increase but added that higher prices had yet to have an “adverse effect” on volumes.
Sara Lee’s bakery portfolio, which includes a namesake range of products, generates around US$2bn in sales. The company’s group turnover stands at around $12bn.
A rising raw material bill has already weighed on the company’s earnings this year. Last month, Sara Lee posted a 1.5% fall in underlying first-quarter profits.
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By GlobalDataSara Lee said then that the “slight decline” in underlying profits had come amid “significant” rises in the cost of commodities, including wheat, poultry and pork.
