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Public Affairs coverage from our award-winning staff |
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Sara Lee Reports 23 Percent Profit
Produced by Kate Gardiner on Thursday, November 05, 2009
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Downers Grove, Illinois-based Sara Lee reports its first-quarter profits are up 23 percent over last year.
The company announced it made 41 cents per share this quarter, up from 32 cents per share during the same time last year.
Lincoln Ellis is director of Chicago's Linn Group, an asset analysis firm.
ELLIS: In a recession and particularly in a period where you're coming out of a recession, people do things like eat at home more so the food and beverage industry across the board is going to benefit.
Ellis says some of the growth can be attributed to how the company changed its wholesale pricing strategy and how it diversified its products.
He says Sara Lee has become a specialist in affordable luxuries - like brand-name coffee - that people continue to buy despite household belt-tightening.
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