For fiscal 2009, net sales were $12.9bn, a decrease of 2.5% compared to $13.2bn in the prior year. Net sales increased in the North American fresh bakery and retail segments, up 8.5% and 5.9% respectively, but these increases were more than offset by the impact of unfavourable foreign currency exchange rates, most notably the euro, and divestitures made during the year.
Adjusted net sales decreased 1.3% in the fourth quarter, but increased 2.7% in fiscal 2009. Adjusted net sales exclude acquisitions/divestitures and present fiscal 2008 net sales at fiscal 2009 foreign currency exchange rates.
“I’m pleased to report that we’ve just completed our second consecutive year of strong overall performance, despite tough economic and competitive headwinds,” said Brenda C Barnes, chairman and CEO of Sara Lee Corp. “Our 2009 results reflect the significant progress we’ve made in transforming Sara Lee and focusing the company on core businesses with large and growing brands in important categories.
“We’ve dramatically improved efficiencies and productivity across the board, while fostering a culture of innovation and collaboration. We’ve built a solid foundation and will continue to invest in the future. We are confident that we’ll continue to execute our growth strategy in fiscal 2010 and in the years to come.”
Source: Sara Lee
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