Downers Grove / IL. (slc) Sara Lee Corporation reported net sales for the second quarter of fiscal 2009, ending December 27, 2008, of 3,3 billion USD; a 2,0 percent decrease over the comparable period last year. Strong net sales growth in North America, particularly in the retail and fresh bakery business segments (up 8,4 percent and 10,6 percent, respectively), was more than offset by lower sales in the international businesses, primarily as a result of unfavorable foreign currency exchange rates and lower unit volumes tied to worsening economic conditions in key European markets.
Second quarter adjusted net sales increased 4,2 percent, driven by sales growth in the three North American business segments and in international beverage. Adjusted net sales exclude acquisitions/divestitures and present fiscal 2008 net sales at fiscal 2009 foreign currency exchange rates.
The company reported a second quarter loss of 0,02 USD per diluted share compared to income of 0,25 USD per share in the year-ago period. Second quarter diluted earnings per share, as reported, included the negative net impact of 0,23 USD per share from various significant items, while the comparable yearago period saw a net benefit of 0,03 USD per share from significant items. Diluted EPS excluding significant items were 0,21 USD versus 0,22 USD in the prior year´s quarter.
«Despite challenging economic times, our North American businesses continued their strong performance in the second quarter», said Brenda C. Barnes, chairman and chief executive officer of Sara Lee Corporation. «The retail and fresh bakery businesses drove net sales and adjusted operating segment income growth, effectively managed their costs and pricing and gained market share in most key categories», she added.
«In our international businesses we are adjusting our plans and refocusing our resources to help offset significant economic downturns in many of our key markets, most notably Spain, France and the United Kingdom. I have no doubt that we will weather these difficult times abroad and continue to deliver strong growth over time in these high-margin businesses. Across Sara Lee, I continue to see meaningful development of a strong foundation and truly world-class capabilities that we can build on while pursuing appropriate cost reduction opportunities», Barnes concluded in the statement «Sara Lee Reports Second Quarter Fiscal 2009 Results».
