January 27, 2011 |
Wall Street is betting that Sara Lee will break in two rather than accept an outright sale offer. Shares of the Downers Grove, Ill.-based packaged-food giant fell 88 cents, or 4.8%, to $17.64 on Thursday. The stock has slipped 7% since Monday. After the market closed Thursday, Sara Lee announced that it would hold a webcast Friday morning to provide an update on "strategic initiatives" and its business outlook for the rest of its fiscal year. This will mark the company's first public statements about its future since speculation regarding a breakup or sale peaked last month.
January 4, 2011 |
Investors are betting that Sara Lee Corp. will be broken up or sold in the coming months. With its stock price up nearly 50% over the last year, closing at $17.41 on Tuesday, the worst thing that could happen for shareholders, at least in the short term, is for it to do nothing, analysts say. "It's trading at a very high multiple, which implies it's a potential takeout," Erin Swanson, an analyst with Chicago-based Morningstar Inc., said Monday....
June 15, 2010 |
Sara Lee Corp. chief Brenda Barnes broke the silence about her medical condition Monday morning, issuing a statement that she is recovering from a stroke. "I know there has been a lot of speculation on my condition, so I want to take the opportunity to provide some details," the chairwoman and chief executive, 56, said in a statement. "I suffered a stroke a few weeks ago, and I am now in the process of recuperating." Jon Harris, a Sara Lee spokesman, said Barnes and the company would provide no details on her condition or the severity of the stroke.
September 7, 2006 |
A day after Sara Lee Corp. completed the spinoff of its underwear unit, shares in Hanesbrands Inc. rose sharply Wednesday on their first day of trading. Shares of the new Winston-Salem, N.C.-based company, trading under the ticker symbol HBI, rose $1.31, or 6.6%, to $21.11 on the New York Stock Exchange. Sara Lee shares were repriced to reflect the spun-off assets and closed at $14.78, up 58 cents. Hanesbrands' brands include Hanes, Champion, Playtex and Wonderbra.
February 11, 2005 |
Sara Lee Corp. is shedding bras and underwear but keeping its cakes and deli meats. The Chicago-based consumer products giant said Thursday that it planned to sell or spin off divisions with about $8.2 billion in revenue, more than half of that from apparel brands including Playtex and Hanes underwear. It also named a new chief executive in a sweeping reorganization of its business.
June 11, 2004 |
Sara Lee Branded Apparel, the makers of Wonderbra, Hanes and Playtex products, will shut five plants and lay off 3,825 workers worldwide by year's end, the company announced. The moves come as the company consolidates its production of intimates, sportswear and underwear, Sara Lee Branded Apparel said. The changes are being made in anticipation of apparel trade restrictions set to expire at the end of the year.