Sara Lee Expects Profit to Beat Forecast

Sara Lee Corp. said fiscal first-quarter profit rose more than expected, to at least 35 cents a share, as the maker of Sara Lee cakes and Hanes underwear boosted sales and cut costs.

Profit this year will rise to $1.54 to $1.60 a share from $1.36 last year, Sara Lee said. The company had forecast profit of $1.44 to $1.50.

Shares of Chicago-based Sara Lee rose as much as $1.23 to $21.13 in after-hours trading, after gaining 47 cents to close at $19.90 on the NYSE.