Sara Lee plans fourth price increase of fiscal year
Sara Lee Corp will raise overall prices in the high single-digit percentages this fiscal year, with increases on everything from Jimmy Dean sausage to frozen pies, an executive said at the Reuters Global Food and Agriculture Summit on Monday.
Christopher "CJ" Fraleigh, chief executive of Sara Lee's North American retail and food service business, said the company was preparing its fourth price hike of the current fiscal year which started last July 5. Meat prices will end the fiscal year up 9 to 10 percent, he said.