Sara Lee swings to 4th-quarter loss on charges

MILWAUKEE_Sara Lee Corp. posted a fourth-quarter loss Thursday as it reduced the value of its bakery business, but analysts say sales increases show the food company is passing on price increases to consumers to offset rising commodity costs. The Downers Grove, Ill.-based company, which makes breads and Hillshire Farm deli meat, said revenue rose 12 percent to $3.51 billion from $3.13 billion a year earlier. The performance was helped by a weak dollar, price increases and higher sales in all segments. Food makers are struggling with soaring costs for commodities, like fuel, corn and wheat _ key ingredients in their products. So they're raising prices and hoping consumers will keep buying their products. Sara Lee said its pricing went up $350 million in the year, $120 million of that in the quarter, to help offset an equal... [read full story]