Chicago-based manufacturer of brand-name products Sara Lee Corporation has reported its financial results for fiscal 2006 with net sales of $15.9 billion, a decrease of 1% compared with fiscal 2005. For the fourth quarter of fiscal 2006, net sales were $4.1 billion, up 2% compared with $4 billion in the prior year's fourth quarter.

The company’s Branded Apparel division designs, manufactures, sources and markets apparel, underwear, socks, hosiery, casualwear and activewear, sold primarily in the Americas/Asia. This business is currently expected to be spun off from Sara Lee on September 5 under the new corporate name Hanesbrands Inc.

For the fourth quarter the division reported net sales of $1.13 billion, down 2% compared with the same period last year.

For the year, Branded Apparel reported net sales of $4.49 billion, a decline of 4%.