Sara Lee Q2 Sales Remain Flat
Published:04-February-2010
By Staff Reporter
Sara Lee has reported net sales of $2.9bn for the second quarter of fiscal 2010 with unchanged results compared to the previous year quarter. Net sales were unchanged as favorable foreign currency exchange rates were offset by slightly lower corporate unit volumes, lower prices and the impact of divestitures.
Net income for the quarter was $371m or $0.53 per diluted share compared to net loss of $17m or $0.02 per diluted share compared to the previous year quarter. Operating income for the quarter was $282m compared to operating loss $4m for the prior year quarter.
For the North American Bakery segment sales for the quarter was $499m, a decrease of 7.5% compared to the prior year quarter. Operating segment income was $16m compared to the loss $16m for a year ago period.
For the food service segment the sales for the quarter was $529m, a decrease of 13.8% compared to the prior year quarter. Operating income for the quarter was $45m compared to $48m for the corresponding quarter prior year.
Net sales for the international beverage segment was $884m, an increase of 14.8% compared to previous fiscal quarter. Operating income for the quarter was $172m, an increase of $59.1m compared to $108m to a year ago quarter.
International bakery segment has reported sales of $211m, an increase of 7.1% compared to an year ago quarter. Operating loss for the quarter was $1m compared to $19m for the previous year quarter.
For the International retail segment net sales were flat in the quarter on a reported and adjusted basis, as favorable sales mix into higher-margin
products was offset by the impact of trade spending and the exits of commodity and kosher meats.
