Sara Lee Corp. on September 14 hosted its annual "Meet the Management" analyst meeting in New York.
Marcel Smits, interim chairman and COO, and other members of senior management provided an overview of fiscal 2010 results and discussed long-term strategies and growth opportunities.
According to a release, Smits began the meeting by demonstrating how Sara Lee has delivered value to its shareholders over the last few years and is building a foundation for the future through strategic investments, such as increased innovation and geographic expansion.
Looking forward, Smits discussed that fiscal 2011 should be another year of growth. In addition, in fiscal 2012, the elimination of more than half of the fiscal 2011 Household and Body Care-related stranded overhead, a decline in amortization of $35 million and further share repurchases will lead to an anticipated positive earnings per share impact of $.15 to $.20. Smits also said Sara Lee Corp. has bought back $360 million of shares of common stock in the first quarter of fiscal 2011.
To read the rest of this story please go to: Trading Markets