Earnings Report: Sara Lee (NYSE:SLE) Boosts 2010 Guidance Above Estimates

Sara Lee (NYSE:SLE) reported fiscal Q2 EPS of $0.36, topping consensus estimates of $0.23.

Sales in the quarter edged 0.1% higher to $2.8 billion, but came in short of consensus estimates of $3.1 billion.

The company boosted its FY 2010 EPS guidance to $1.00 - $1.05 (vs. consensus estimates of $0.95) on sales of $12.9 billion - $13.2 billion (vs. consensus estimates of $11.46 billion).

Sara Lee Corp. chairman and chief executive officer Brenda C. Barnes said, "Based on the strong first half performance, we have raised guidance and feel very confident in our full year outlook. We also are making significant investments across our business designed to drive growth this year and beyond. We believe that we will have a strong 2010 and are confident that in 2011 we can deliver meaningful additional profit improvement."

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