Sara Lee Corp. reports earnings for its fiscal first quarter on Thursday before the market opens. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Sara Lee Corp. is expected to update investors on its effort to shed peripheral businesses and focus on its core food and beverage products.

Sara Lee, based in Downers Grove, Ill., announced in September that it was selling its personal care products business to Unilever NV for $1.88 billion. The company has also said it has received "significant interest" in selling its household products unit and is pursuing sales options.

While there doesn't appear to be any deal on the horizon to sell the entire unit, Procter & Gamble is reportedly eyeing the air freshener component of the business.

Sara Lee, which makes products such as Jimmy Dean sausages, Hillshire Farm deli meats and its namesake breads, is retooling after seeing its profits slip.

The company has been one of the weakest performers in the food industry as it continued to carry several business segments in the less profitable personal care and home products line and wants to focus more on food.

Sara Lee has already been focusing more heavily on its lower-priced items popular with cash-conscious consumers who are eating at home more often during the recession, such as Ball Park franks and other inexpensive meats that produce strong results for the company.

The shift is expected to take some time, and the company in August announced weak expectations for its 2010 fiscal year.

BY THE NUMBERS: Analysts surveyed by Thomson Reuters expect the company to earn 18 cents per share on revenue of $3.16 billion for the quarter.

ANALYST TAKE: Deutsche Bank analyst Eric Katzman retained a "Hold" rating on Sara Lee shares, saying he sees a strong stock value and solid balance sheet. However, he is unsure how the company will fully use the proceeds from the sale of its personal care business and it continues to face serious challenges from competition and the continued toll the economy is taking on consumers.

WHAT'S AHEAD: The company may still be shopping for a buyer for its household products unit.

STOCK PERFORMANCE: Sara Lee's shares rose more than 18 percent during the quarter but only 1 percent during the past 52 weeks.