US: Harris Teeter tight-lipped over sale talks
Harris Teeter Supermarkets has declined to comment on reports it is exploring strategic options including the possibility of a sale.
The US supermarket group is understood to have appointed JP Morgan as an advisor, sources told Reuters yesterday (12 February). Grocery chains such as Kroger, Publix Super Markets and Ahold are likely suitors, the sources said.
A spokesperson for Harris Teeter, however, declined to comment when contacted by just food. She said: "Harris Teeter, as a matter of policy, does not comment on rumours regarding mergers and acquisitions."
Last week, the retailer reported higher underlying sales for its fiscal first quarter in a set of mixed financial results. The company saw comparable-store sales increase 2.5%. However, costs related to starting up ten stores bought from Lowe's hit operating profit, which fell 12.5%.
US retailer Ingles Markets has booked a third-quarter loss, hurt by a one-off charge....
US regional retailer Harris Teeter, set to be taken over by supermarket giant Kroger, has booked a jump in profits....
- Why Mars rice plan not just crop-ticking exercise
- Greencore's food-to-go focus paying dividends
- ConAgra Foods: what could happen next? - analysis
- How Danone aims to meet its 2020 objectives
- Interview: Ritter sees growth potential in US, EU
- Pinnacle to buy Boulder Brands in $975m deal
- Genius Foods buys UK gluten-free firm Chapel Foods
- Aryzta regional CEO steps down
- Maple Leaf Foods to cut over 400 jobs
- Hovis plans cuts amid anxiety over UK bread demand