Business

Reports: Harris Teeter considers selling

Posted February 13, 2013

— Supermarket chain Harris Teeter is reportedly considering putting itself up for sale, according to media reports.

Both The Wall Street Journal and the Reuters news service reported the story, citing sources.

A Harris Teeter spokeswoman told WRAL News that the company would have no comment on rumors regarding mergers and acquisitions.

The reports say Harris Teeter, which operates several stores in the Triangle area, has retained financial services firm JP Morgan to help determine strategic alternatives.

Harris Teeter and JP Morgan were not talking about the reports.

The stories sent Harris Teeter shares up 6.6 percent in value to $39.50 on Tuesday. Its shares trade on the New York Stock Exchange.

According to Reuters, possible buyers include larger grocery chains such as Kroger and Publix.

113 Comments

This story is closed for comments. Comments on WRAL.com news stories are accepted and moderated between the hours of 8 a.m. and 8 p.m. Monday through Friday.

Oldest First
View all
  • superman Feb 15, 11:18 a.m.

    Love the people who shop at HT. I can afford anything I want but I like to get the best bang for my buck. I enjoy having my wallet full of cash while you folks spend your money on expensive items you can get cheaper somewhere else. House and 3 cars are paid for and no credit card debt.

  • winterconnie Feb 14, 5:35 p.m.

    Publix is a wonderful store and I hope that they come to NC I go to Florida in the winter and I just love this store. They have such fresh fruits and vegetables and you never need to ask for anything. The meats are always fresh and their pies are to die for.
    The one thing that I miss when we return from Florida is this supermarket. I hope they do come to NC. A little competition does not hurt.

  • AnneM71 Feb 14, 5:35 p.m.

    Nooooo please I don't want to lose my HT!!!

  • paddie Feb 14, 5:31 p.m.

    We have 3 sub par grocery stores where I live. I usually have to go to all 3 to get everything on my list. I make the 30 min trip to Harris Teeter about 2-3 times a month to get all the higher quality stuff that my local stores do not carry. I can only hope that whoever buys them doesn't turn them into another Food Lion, Walmart etc.

  • Micro citizen Feb 14, 10:01 a.m.

    "H T has the absolute BEST customer service. I'm willing to pay a little more for that, and avoid the "Walmartiians" at the same time! Rat Rod"

    TOTALLY AGREE!!!

  • btneast Feb 14, 9:38 a.m.

    The reason Walmart has lower prices is that they force companies to take less for their products or be bounced off the shelf.

    That is not the real reason they have such low prices. They do expect to pay less, as they are the largest retailer in the world, but the same thing happens at Target, Home Depot, Best Buy and all of the other mega retailers. Its the vendors choice to agree or not. Walmart is the most efficient company in the world on getting the product from "the rail car to your car"...their distribution network is studied by many other companies as an ideal to strive for. There's only so cheap you can buy a product, the difference is how much does it cost you to handle it to get it out the door.

  • lwe1967 Feb 13, 6:27 p.m.

    Supermarkets come and go. I have seen a lot coming then going - Winn Dixie, Bi-Lo, Safeway, Colonial, A&P, etc. Publix is a good store. It is headquarted in Lakeland, Fl and has done nothing but grow and make large profits.

  • DawgDue Feb 13, 6:19 p.m.

    Publix is the only chain that makes logical sense. They've already expanded into the Charlotte market with the Rock Hill, SC store and are building in south Charlotte. Have one on deck for Cary and another in Raleigh. They buy HT, then they buy trucks and distribution warehouses. That moves them directly into North Carolina with resources and existing store structures.

    The Publix stores I've been to in Mt. Pleasant, SC and Augusta, GA have been incredible. Clean, top notch service, prices are good. I'd welcome Publix with open arms to this area in replacement of Harris Teeter.

    I highly doubt though that Publix would take over each HT store though simply due to the fact that many HT stores are the original style (ie Western Blvd & Glenwood Village) and wouldnt fit the size requirement that a Publix would want/need. I could see those going to Food Lion or Lowes Foods.

    Whatever the case, it'll be interesting to see what all happens with this deal going forward.

  • curlyq619 Feb 13, 6:08 p.m.

    People who complain about HT jacking prices up on BOGO sales need to realize that pretty much every grocery store does the same thing.

  • Geez Louise Feb 13, 5:34 p.m.

    "For all of you commenting that HT is too expensive, go to the other grocery stores. No one is MAKING you shop there. "

    --Um, I think that's why we ARE shopping at other grocery store, and they're looking to sell.

More...