|
|
Article: Profit up at Sara Lee, but forecast cut
- Article from:
- Chicago Sun-Times
- Article date:
- April 25, 2002
- Author:
CopyrightCopyright 2002 Chicago Sun-Times. (Hide copyright information)
|
Since Sara Lee Corp. embarked on a massive restructuring two years
ago to boost profits, it has sold 17 businesses, slashed 20,470 jobs,
focused advertising on its most popular brands and taken advantage of
controversial tax breaks.
Yet Wall Street is still asking, "Where's the beef?"
The skepticism continued Wednesday when the Chicago-based maker of
Sara Lee baked goods, Ball Park hot dogs and Hanes underwear
announced its fiscal 2002 third-quarter earnings and pulled back from
its previous plans to quickly pursue an acquisition.
Though earnings for the quarter ended March 30 rose 7 percent to
$257 million, or 31 cents a share, Sara Lee reported sluggish sales