Q. Can I expect my shares of Sara Lee Corp. to show improvement in the near future? — R.F., via the Internet

A. This global food, beverage and household products company, which spun off its Hanesbrands division to shareholders nearly a year ago, is still adapting to its makeover.

Because it also shed a number of businesses in its international apparel, snack brands, domestic coffee and meat snack operations, it must convince investors that this smaller, more centralized look suits it.

At issue is whether everything is coming together quickly and effectively enough to merit the current stock price. Amid volatile commodity prices and a continuing need to spend on marketing and product development, investors are looking for it to prove it is becoming more efficient.

Shares of Sara Lee (SLE) are down four percent this year following a gain of six percent last year, a drop of 22 percent in 2005 and a 10 percent gain in 2004. Its dividend yield of around 2.5 percent lags most rivals.

Sara Lee frozen and baked goods, Earth Grains breads, Hillshire Farm packaged meats, Jimmy Dean sausages and Ball Park hot dogs are among the company's food products. It also makes specialty teas. Its household products include Ambi Pur air fresheners and Kiwi shoe-care products. Its Sanex body care products sold overseas represent a profitable and promising segment.

Some of its brands, while well-known for generations, face such intense price competition that customer loyalty can't be taken for granted. But it has introduced a variety of successful new products, among them whole-grain white bread, mini air fresheners and the Senseo single-cup coffee system.

International markets are expected to be a primary driver in its growth, but that also means currency risk.

The consensus Wall Street rating of the stock is a "hold," according to Thomson Financial, consisting of one "strong buy," one "buy," 10 "holds," two "sells" and one "strong sell."

Though Sara Lee is now a smaller company, Brenda Barnes, chief executive since February 2005, hasn't accelerated its stock buyback program as a means to ward off a potential takeover. She says she is instead focused on delivering on existing plans.

Sara Lee earnings are expected to decline 30 percent in this fiscal year ending in June, with a gain of seven percent in the following fiscal year. The firm's projected five-year annualized return of eight percent is in line with the processed and packaged goods industry.

Q. I would like to know the difference between "A" and "B" shares of a mutual fund. — M.P., via the Internet

A. Mutual funds may offer a number of share classes indicating the type and number of fees charged for a fund's shares. This is disclosed in the fund prospectus.

Those who prefer to invest on their own rather than through a broker or adviser may decide to avoid funds that require sales charges.

The A shares subtract the sales charge from your original investment, which means your full investment doesn't immediately go to work. You don't want to buy and sell quickly.

The B shares have you pay a sales charge when you sell. The longer you hold your shares, the lower that charge will be. Although it varies among firms, at some point most B shares convert to A shares.

"You have to do the math and figure out how long you think you may own the shares if you're deciding between A or B shares," said Chris Wloszczyna, spokesman for the Investment Company Institute in Washington, D.C. "The B shares also tend to have a higher 12b-1 fee, which is an annual charge to cover marketing and distribution costs."

(Andrew Leckey answers questions only through the column. Address inquiries to Andrew Leckey, P.O. Box 874702, Tempe, Ariz. 85287-4702, or by e-mail at andrewinv(at)aol.com.) (C) 2007 TRIBUNE MEDIA SERVICES, INC.