10.24.02
Sara Lee, Chicago, said first quarter household product sales rose 3% to $478 million. Operating income increased 5% to $72 million. Household Products is Sara Lee's most global business, with leading positions in four core product categories: body care, air care, shoe care and insecticides, plus a direct selling business in developing markets. It markets products in nearly 200 countries.
For the first quarter of fiscal 2003, sales grew 3% and operating income rose 5%. Increased sales and profits for the company's traditional household and body care businesses were partially offset by the negative impact of sales declines in Mexico, start-up costs in Brazil and economic issues in Argentina for the Direct Selling operations. The strength of the euro helped reported results; excluding the impact of currency movements, Household Products sales rose 1% and operating income fell 1% compared to the year ago period.
Unit volumes for this segment's four core categories grew 1%, against an unusually strong 11% increase in last year's first quarter. This year's gain was led by increased sales in the air care and body care segments. Sanex deodorants were launched in the United Kingdom during the quarter, expanding the market reach of this well-known pan-European brand, and in September Ambi Pur Instant Perfume, a room spray, was launched in the Netherlands, Spain and France.
Corporate sales rose 7% in the quarter to $4.5 billion, driven largely by the acquisition of The Earthgrains Company.
For the first quarter of fiscal 2003, sales grew 3% and operating income rose 5%. Increased sales and profits for the company's traditional household and body care businesses were partially offset by the negative impact of sales declines in Mexico, start-up costs in Brazil and economic issues in Argentina for the Direct Selling operations. The strength of the euro helped reported results; excluding the impact of currency movements, Household Products sales rose 1% and operating income fell 1% compared to the year ago period.
Unit volumes for this segment's four core categories grew 1%, against an unusually strong 11% increase in last year's first quarter. This year's gain was led by increased sales in the air care and body care segments. Sanex deodorants were launched in the United Kingdom during the quarter, expanding the market reach of this well-known pan-European brand, and in September Ambi Pur Instant Perfume, a room spray, was launched in the Netherlands, Spain and France.
Corporate sales rose 7% in the quarter to $4.5 billion, driven largely by the acquisition of The Earthgrains Company.