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Sara Lee
built 451 days ago
Sara Lee is the parent company of Kiwi Brands, Inc., the leading shoe-care products company in the United States. Sara Lee is based in Chicago, and Kiwi is based in Douglassville, Pennsylvania. In October 1991, Sara Lee acquired Reckitt & Colman plc's shoe-care products business for $25.8 million. Reckitt & Colman, a London, England-based company, sells Melto- nian, Griffin and Magix brands of shoe-care products in the United States. In an action prior to today, the FTC alleged that the acquisition would have created a virtual monopoly in the shoe-care products business.
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Sara Lee is a great large-cap. It beat analyst forecasts significantly last quarter, so it must be doing something right. If you're thinking about investing, a 2.4% dividend is great. Sara Lee is stable and will remain in America's economy for a long time.
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Dov Lautman, Delta's chairman and largest shareholder holds 56% of the company and Sara Lee, the world's largest clothing manufacturer, has some 30%. The remainder is traded on the Tel Aviv Stock Exchange."
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Ironically, Sara Lee's spending spree within another area--hosiery--quickly came back to haunt the company. A combination of several factors converged to lead to declining hosiery sales starting in late 1992. In the midst of a recession in Europe, the newly acquired hosiery units in France, Spain, and the United Kingdom experienced increasing competitive pressure. Sara Lee ... erred in replacing the managers of the firms with U.S. personnel not as familiar with the local markets. Most important, both in Europe and the United States, the company failed to recognize quickly enough the trend toward more casual attire both at the office and for social events and, therefore, the resultant decreased demand for formal hosiery. Because hosiery comprised 25 percent of overall apparel sales, the decrease in hosiery sales presented a significant challenge.
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Coinciding with the campaign launch, Sara Lee is launching Soft & Smooth 100% Honey Wheat Bread, the first 100% whole wheat bread with the taste of honey and a soft, smooth texture most consumers prefer. Each two-slice serving offers 28 grams of whole grain. The product launch follows the highly successful launches of Sara Lee Soft & Smooth Made with Whole Grain White Bread and Soft & Smooth 100% Whole Wheat Bread in 2005 and 2006, respectively. The Soft & Smooth portfolio offers families whole grain nutrition without asking them to compromise on the taste or texture that their families prefer.
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Van Oers said he does not believe Sara Lee is any more disadvantaged than other companies with regard to increasing commodity costs. A central procurement department was formed at the beginning of the turnaround to get pricing power.
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