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USA:Sara Lee reports rise in sales and earning
in Q2 for fiscal 2005 |
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2005-1-27
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Sara Lee Corporation today announced that net sales for the second
quarter of fiscal 2005, ending Jan. 1, 2005, were $5.2 billion, up 4% compared to $5.0 billion in the prior year’s quarter. For the first six months of fiscal 2005, sales were $10.1 billion, up 4% over the same period a year ago. During the second quarter and year-to-date period, sales benefited from higher net selling prices in Meats and Beverage, higher unit volumes in Branded Apparel and favorable foreign currency exchange rates.
Bakery and Branded Apparel generated double-digit increases in operating segment income for both the second quarter and first half of fiscal 2005 compared to last year’s periods.
Cash flow from operations for the second quarter of fiscal 2005 was $731 million, resulting in a total for the first six months of $803 million. Cash flow improved in the second quarter driven by better working capital management, particularly in inventories and accounts receivable.
“Despite retail pricing pressure in Europe and challenging commodity costs, Sara Lee delivered earnings per share in line with our expectations for the quarter. Operating segment income rose in
our Bakery and Branded Apparel businesses, but was offset by softness in the other lines of business,” said C. Steven McMillan, chairman and chief executive officer of Sara Lee Corporation.
“Our Brand Segmentation Strategy is delivering solid results, including a 14% increase in our Strategic Investment brand sales in the first half of the year, highlighted by very strong results for
Senseo, Sara Lee, Champion and Jimmy Dean. Despite a challenging environment, we continue to provide strong support for our Strategic Investment brands and market opportunities," he added.
Click to view Sara Lee Q2 Results |
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| Sara Lee Corporation |
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