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Posted: 6:22 p.m. Thursday, Feb. 21, 2013
By Scott Wickersham
MATTHEWS, N.C. —
People who own Harris Teeter stock met for the first time since the store announced it may sell. Thursday's shareholder meeting lasted about 45 minutes, and Harris Teeter executives allowed no questions about a possible sale of the company. In 2007, net sales were $3.3 billion with $145 million profit. In 2012, sales hit $4.5 billion with $201 million profit. Harris Teeter opened 12 stores last year and plans to open 10 more this year. That growth, says a Wingate University management expert, is what makes Harris Teeter ripe for the picking. "One of these big competitors could be thinking, 'Wow. That's a juicy plum,'" said Dennis Harlow of Wingate University. "This could be a hostile takeover. Someone could be thinking of taking them private by buying up all the stock," Harlow said. Inside the meeting, shareholders told Channel 9 they are happy with Thursday's report and not worried about a sale hurting their stock price.
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