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%.
Publix Super Markets is a strong regional player and will continue expanding its store base across its operating area as well as in new markets. In 2012, the grocery retailer announced plans to enter ...
After several years of reducing store counts, Kroger returned to growing its store base in 2012. For years, store remodels were a significant portion of capital investment. Now, it expects to selectiv...
US retailer Ingles Markets has booked a third-quarter loss, hurt by a one-off charge....
- Why "simple" and "real" will be industry buzzwords
- Nestle's 2014 results: 10 Things to Learn
- Maspex: M&A opportunities in eastern Europe
- Why US Dietary Guidelines report deserves praise
- The just-food interview: Bega Cheese CEO
- Kerry Group CEO expects more M&A in 2015
- Gruma FY earnings surge as margins improve
- Glanbia FY profits beat analyst forecasts
- Kerry sales, earnings rise but food weighs
- Pinnacle efficiency helps profits amid flat sales