Sara Lee sells hosiery business
Chicago-based Sara Lee Corp. has announced the sale of its Italian hosiery business to Gilfin SpA for an undisclosed sum. Included in the sale of Filodoro Calze SpA, which was completed Thursday, are the hosiery maker's Spanish and Portuguese operations. The business recorded sales of about $83 million
in fiscal 2003, but its sheer hosiery business has suffered in the last few years as more casual dress codes in the workplace have shifted trends. The Italian hosiery unit markets products under the Filodoro, Filodoro Club and Filodoro Classic brand labels. Sara Lee says the sale would have no material impact on its second-quarter earnings.
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Chicago-based Sara Lee Corp.
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