Harris Teeter exploring options -source

Tue Feb 12, 2013 4:27pm EST

Feb 12 (Reuters) - Harris Teeter Supermarkets Inc is exploring strategic options including a possible sale, a source familiar with the matter said on Tuesday.

The company, which has a market capitalization of over $1.8 billion, is being advised by JP Morgan, said the source, who declined to be named because the process is confidential.

Harris Teeter was not immediately available. JP Morgan declined to comment.

Shares of the company, which operates some 200 stores in eight states in the southeastern U.S., closed up $2.46, or 6.6 percent, at $39.50 on the New York Stock Exchange.

News of the process was earlier reported by the Wall Street Journal.

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