Sara Lee (SLE)
Company Profile: Downers Grove, Ill.-based Sara Lee is a global manufacturer and marketer of high-quality, brand-name products for consumers throughout the world focused primarily on the meats, bakery, beverage and household products categories.
Higher food costs led Sara Lee to miss fiscal-second quarter earnings expectations. It said commodity costs increased by $127 million last quarter, and by $219 in the first half of its fiscal year, partially offset by $123 million in higher prices during the first two quarters, resulting in a net unfavorable commodity cost impact of $96 million.The food processor said that higher food costs cut into its results last quarter even as the maker of Jimmy Dean sausages and Ball Park hotdogs raised prices to offset some of that food inflation.
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