Sara Lee Corp. Reports 6 Percent Net Sales Gain In Second Quarter

Market share trends showed meaningful improvements in each of the segment’s core categories. The best performance in the quarter came from the Jimmy Dean business which continues to deliver positive trends on volume, revenue and operating profit, driven by innovation. Meanwhile, extensive resources are being put behind plans to improve the innovation and positioning of the Hillshire Farm brand. The bakery business underperformed during the holiday season in a very competitive market, impacting quarterly results and diluting the impact of positive trends in meat.

In the first six months, adjusted and reported net sales declined 1 percent to $1,425 million. Pricing and sales mix virtually offset volume declines, the exit of the final hog resale contract and slotting fees on new items. Adjusted operating segment income declined 1 percent as the impact of volume declines more than offset lower SG&A and operations productivity.