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Harris Teeter Supermarkets, Inc. (HTSI) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, October 1, 2013

Harris Teeter Supermarkets, Inc.

CIK: 85704 Ticker: HTSI

 

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

October 31, 2013

Contact:

John B. Woodlief

Executive Vice President

and Chief Financial Officer

704-844-3100

 

 

 

 

Harris Teeter Supermarkets, Inc. Reports Fiscal 2013 Results

 

MATTHEWS, N.C.—October 31, 2013—Harris Teeter Supermarkets, Inc. (NYSE:HTSI) (the “Company”) today reported that sales for the 52 weeks ended October 1, 2013 increased by 3.8% to $4.71 billion from $4.54 billion in fiscal 2012. Sales for the fourth quarter of fiscal 2013 increased by 4.5% to $1.19 billion from $1.14 billion in the fourth quarter of fiscal 2012. The increase in sales for the year and quarter was driven by an increase in comparable store sales and sales from new stores, partially offset by store closings. Comparable store sales increased by 2.23% for the year, and 1.49% for the fourth quarter of fiscal 2013, from the respective comparable periods of fiscal 2012.

 

During fiscal 2013, the Company opened nine new stores, two of which were the stores acquired from Lowe’s Food Stores, Inc. (“Lowes Foods”) in 2012 that were re-opened under a new format and banner - “201central,” and one of which replaced a store previously closed, and closed one store that will be replaced with a new store to be opened in fiscal 2014, for a net addition of eight stores. The Company operated 216 stores as of the end of fiscal 2013 and retail square footage increased by 4.2% in fiscal 2013, as compared to an increase of 4.5% in fiscal 2012.

 

On July 8, 2013, the Company and The Kroger Co. (“Kroger”) entered into a definitive merger agreement under which Kroger will acquire all outstanding shares of the Company for $49.38 per share in cash (“The Merger Agreement”). The terms of the Merger Agreement were approved by the Boards of Directors of both companies and has been approved by the Company’s shareholders; however, it remains subject to regulatory approvals (including under the Hart-Scott-Rodino Antitrust Improvements Act of 1974, as amended) and other customary closing conditions, and is expected to close in the fourth quarter of calendar year 2013.

 

On September 12, 2013, the Company announced that its operating subsidiary, Harris Teeter, Inc. entered into an agreement with Greenbax Enterprises, Inc. and certain of its subsidiaries (“Piggly Wiggly”) to purchase six Piggly Wiggly store locations and one future store location in the Charleston, S.C. area (the “Piggly Wiggly Acquisition”). The acquisition was completed during the first quarter of fiscal 2014 with five of the locations

 


The following information was filed by Harris Teeter Supermarkets, Inc. (HTSI) on Friday, November 1, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Statements Of Consolidated Cash Flows
Statements Of Consolidated Comprehensive Income
Statements Of Consolidated Operations
Statements Of Consolidated Shareholders' Equity
Statements Of Consolidated Shareholders' Equity (parenthetical)
Capital Stock
Capital Stock (details)
Commitments And Contingencies
Company Owned Life Insurance (coli)
Company Owned Life Insurance (coli) (details)
Computation Of Earnings Per Share (eps)
Computation Of Earnings Per Share (eps) (details 1)
Computation Of Earnings Per Share (eps) (details Textual)
Computation Of Earnings Per Share (eps) (details)
Computation Of Earnings Per Share (eps) (tables)
Derivative Financial Instruments
Derivative Financial Instruments (details 1)
Derivative Financial Instruments (details 2)
Derivative Financial Instruments (details Textual)
Derivative Financial Instruments (details)
Derivative Financial Instruments (tables)
Discontinued Operations
Discontinued Operations (detail Textuals)
Discontinued Operations (details)
Discontinued Operations (tables)
Employee Benefit Plans
Employee Benefit Plans (details 1)
Employee Benefit Plans (details 2)
Employee Benefit Plans (details 3)
Employee Benefit Plans (details 4)
Employee Benefit Plans (details 5)
Employee Benefit Plans (details 6)
Employee Benefit Plans (details 7)
Employee Benefit Plans (details 8)
Employee Benefit Plans (details 9)
Employee Benefit Plans (details Textual)
Employee Benefit Plans (details)
Employee Benefit Plans (tables)
Financial Instruments
Financial Instruments (details Textual)
Financial Instruments (details)
Financial Instruments (tables)
Goodwill
Goodwill (details)
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (tables)
Intangible Assets
Intangible Assets (details Textual)
Intangible Assets (details)
Intangible Assets (tables)
Intangible Liabilities
Intangible Liabilities (details Textual)
Intangible Liabilities (details)
Intangible Liabilities (tables)
Inventories
Inventories (details 1)
Inventories (details)
Inventories (tables)
Leases
Leases (details 1)
Leases (details Textual)
Leases (details)
Leases (tables)
Long-term Debt
Long-term Debt (details Textual)
Long-term Debt (details)
Long-term Debt (tables)
Property
Property (details Textual)
Property (details)
Property (tables)
Quarterly Information (unaudited)
Quarterly Information (unaudited) (details)
Quarterly Information (unaudited) (tables)
Stock Options And Stock Awards
Stock Options And Stock Awards (details 1)
Stock Options And Stock Awards (details Textual)
Stock Options And Stock Awards (details)
Stock Options And Stock Awards (tables)
Subsequent Event
Subsequent Event (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 1)
Summary Of Significant Accounting Policies (details Textuals)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: HTSI
CIK: 85704
Form Type: 10-K Annual Report
Accession Number: 0001145443-13-002240
Submitted to the SEC: Mon Dec 02 2013 4:03:39 PM EST
Accepted by the SEC: Mon Dec 02 2013
Period: Tuesday, October 1, 2013
Industry: Retail Grocery Stores

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