2nd UPDATE:Sara Lee CEO:International Household Operations Proposal Progressing
September 16 2009 - 2:45PM
Dow Jones News
Sara Lee Corp. (SLE) Chief Executive Brenda Barnes said the
company has had expressions of interest for its international
household and body care operations and is making progress in its
proposed sale of that business.
The company previously said it was exploring options for that
business.
Sara Lee executives highlighted efforts to sell consumers higher
end products, like the company's Ball Park Angus beef franks, which
they said will help profit margins. The company said it is also
pushing to grow margins in its bakery business.
Speaking to reporters after the company's analyst presentation
in New York, Barnes said the company is "on track" in its process
of examining options for the international household and body care
operations.
"It's a long process," she said. "You can't rush it."
Barnes also reiterated that Sara Lee is open to making
acquisitions that fit in with its strategy to drive growth.
The company said Wednesday that the board intends to keep the
quarterly dividend unchanged at 11 cents a share for the next four
quarters.
Sara Lee also said it is eliminating less profitable brand
extensions in its foodservice and retail businesses.
-By Anjali Cordeiro, Dow Jones Newswires;
anjali.cordeiro@dowjones.com