Sara Lee Corp.: The Chicago-based food and...

Sara Lee Corp.: The Chicago-based food and personal products conglomerate reported 1989 profit of $410.5 million, up 26% over the previous year. Sales totaled $11.7 billion, up 12%. The results reflected strong performances by the hosiery and underwear companies in its personal-products division and a pretax gain of approximately $87 million from the sale of its Hollywood Brands, Lyon’s and Peck Foods subsidiaries. Earnings also were affected by a $55-million charge for restructuring of the U.S. food operations.