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Article: Sara Lee earnings drop 78%: Weakness raises questions about company's restructuring strategy.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- May 10, 2006
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Byline: James P. Miller
May 10--Sara Lee Corp., burdened by hefty charges linked to its ongoing corporate makeover effort, said Tuesday that third-quarter earnings plunged 78 percent.
The latest results, which fell slightly short of analysts' expectations, underscored the challenge the Chicago consumer-products giant faces as it seeks to bolster efficiencies and streamline its sprawling collection of businesses.
"Operational performance remains below our expectations," Chairman and Chief Executive Brenda Barnes acknowledged in a conference call with analysts, "but our plans to improve the business continue to progress rapidly."
Sara ...