US food and consumer goods company Sara Lee has posted a fall in quarterly earnings, hit by weak performances by its foodservice unit and underwear business.

Chicago-based Sara Lee reported earnings of US$296m, or 37 cents a share, in the fourth quarter to 28 June, compared to $351m, or 43 cents a share, in the year-ago period.

Analysts polled by Reuters Research had expected earnings of 38 cents a share. Sara Lee’s April guidance had been for fourth-quarter earnings of between 36 and 38 cents per share.

The company’s sales rose 3% to $4.6bn, helped by the weak dollar.

Sara Lee said it expects challenging market conditions to continue into the next quarter, reported Reuters.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

The company forecast first-quarter profit of 23 cents to 28 cents a share, compared to 38 cents a share a year earlier. For the full fiscal 2004 year, Sara Lee said it expects earnings of between $1.51 and $1.61 a share, compared to $1.50 in fiscal 2003.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now