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....
- Rise of prepared foods in US grocers - analysis
- Work on sugar could stir more clean-label concerns
- Are consumers getting tired of consuming?
- Hershey results, outlook, M&A - the top takeaways
- How are brands organising for e-commerce?
- Nestle, R&R Ice Cream finalise joint venture plans
- Fazer buys European biscuit brands from Mondelez
- Hershey buys company behind BarkThins brand
- Mondelez sees stronger margins, LFL growth
- Pinnacle Foods names Mondelez's Mark Clouse CEO