Sara Lee: strong sales growth continues in fiscal Q3/2008

Chicago / IL. (sl) Sara Lee Corporation announced that net sales for the third quarter of fiscal 2008, ending March 29, were 3,2 billion USD – an increase of 10,5 percent compared to 2,9 billion USD in the prior year period. The strong overall net sales growth was driven by favorable foreign currency exchange rates, most notably the euro, price increases to cover higher input costs and a corporate unit volume increase of 2,4 percent. Net sales grew in five of the six business segments with particularly strong growth in international beverage (plus 22,6 percent), international bakery (plus 18,9 percent), household and body care (plus 12,9 percent) and North American retail bakery (plus 11,0 percent). The corporation´s adjusted net sales – which exclude acquisitions / divestitures and present fiscal 2007 net sales at fiscal 2008 foreign currency exchange rates – increased 4,3 percent in the third quarter of fiscal 2008, driven by strong top-line growth in North American retail bakery (plus 11,0 percent) and international beverage (plus 7,2 percent). For the first nine months of fiscal 2008, Sara Lee reported net sales of 9,7 billion USD, up 9,6 percent over the comparable period last year, while adjusted net sales rose 4,3 percent year-to-date (press release).