The $1,700 Loan That Built a Grocery Empire- Right Here in Mooresville
When people think of companies with ties to Mooresville, Lowe’s is often the first name that comes to mind. While Lowe’s has been headquartered here since 2003, the company actually began in North Wilkesboro in 1921. Harris Teeter’s story is different. One of the Southeast’s most recognizable grocery chains didn’t simply relocate to Mooresville- it was born here.
Long before it became Harris Teeter, it was simply Teeter’s Food Mart, a small grocery store that opened in downtown Mooresville on July 15, 1939, by brothers Willis L. Teeter and Paul Teeter.
Willis had been managing the local A&P grocery store, and when A&P decided to close its Mooresville location, the brothers took a leap of faith, assumed the lease and opened their own grocery store in its place. The exact location of that original store has been lost to history, but some records I found suggest it may have been located at 170 North Main Street, where Famous Toastery is located today.
Armed with a $1,700 loan (roughly $40,000 in today’s dollars), Willis and Paul bet on a simple philosophy: treat customers well, offer quality products, and keep prices fair. It was a true family business built on personal relationships, where customers were known by name rather than by a VIC card.
By 1946, just seven years after opening, the business had already outgrown its original downtown storefront and moved into a much larger location. Unfortunately, the location for that store is truly lost to history. By 1958, the Teeter brothers had expanded to six stores across the region.
Meanwhile, a remarkably similar story was unfolding just down the road in Charlotte.
William Thomas “W.T.” Harris had also started his career with A&P before borrowing $1,500 to open his own grocery store. Harris earned a reputation as an innovator. His stores were known for spotless aisles, exceptional customer service, and introducing one of North Carolina’s first self-service grocery concepts, allowing customers to select items directly from the shelves instead of handing a shopping list to a clerk. In 1949, Harris opened one of the area’s first modern supermarkets, complete with air conditioning and extended shopping hours until 9:00 p.m. on Fridays- things considered revolutionary at the time.
Although their stores operated in different cities, Teeter and Harris shared the same commitment to customer service and innovation. The two men met through the North Carolina Food Dealers Association and soon realized they could accomplish more together than apart.
In 1958, their companies began sharing purchasing power and warehouse facilities.
Then, on February 1, 1960, they officially merged to form Harris Teeter Super Markets, Inc. The new company combined 15 stores, instantly becoming the largest independent grocery organization in the Carolinas. Just three years later, the chain had grown to 25 stores.
Today, Harris Teeter operates more than 250 supermarkets and approximately 70 fuel centers across seven states and the District of Columbia, employing roughly 36,000 people. It remains one of the Southeast’s premier grocery retailers.
On January 28, 2014, Kroger acquired Harris Teeter for $2.5 billion.Not bad for two brothers who borrowed $1,700, took over the lease of a grocery store that someone else had given up on, and believed they could build something better.
As it turns out, they were right!
Interesting Sidebar: When Aunt Jemima Came to Mooresville
On October 15-16, 1954, Edith Wilson, the actress portraying Aunt Jemima, visited Mooresville and served free pancakes at Teeter’s Food Mart. While Wilson was not the first actress to portray Aunt Jemima, she was certainly the most famous.
Before becoming the national face of Aunt Jemima for Quaker Oats (1948–1966), she was an accomplished blues singer, Broadway performer, and actress.
She even shared the screen with Humphrey Bogart in the 1944 film To Have and Have Not. At the time of her visit, Wilson was a well loved and nationally recognized celebrity, Hundreds of local residents reportedly lined up outside Teeter’s Food Mart to meet her.
Interesting Grocery fact:
The industry average profit margin for grocery stores in the United States is 2.1%. Meaning, the profit On each dollar spent is 2 cents.
That means that every time we complain about spending $100 at the grocery store, the company is only making about $2.10!
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The $1,700 Loan That Built a Grocery Empire- Right Here in Mooresville
When people think of companies with ties to Mooresville, Lowe’s is often the first name that comes to mind. While Lowe’s has been headquartered here since 2003, the company actually began in North Wilkesboro in 1921. Harris Teeter’s story is different. One of the Southeast’s most recognizable grocery chains didn’t simply relocate to Mooresville- it was born here.
Long before it became Harris Teeter, it was simply Teeter’s Food Mart, a small grocery store that opened in downtown Mooresville on July 15, 1939, by brothers Willis L. Teeter and Paul Teeter.
Willis had been managing the local A&P grocery store, and when A&P decided to close its Mooresville location, the brothers took a leap of faith, assumed the lease and opened their own grocery store in its place. The exact location of that original store has been lost to history, but some records I found suggest it may have been located at 170 North Main Street, where Famous Toastery is located today.
Armed with a $1,700 loan (roughly $40,000 in today’s dollars), Willis and Paul bet on a simple philosophy: treat customers well, offer quality products, and keep prices fair. It was a true family business built on personal relationships, where customers were known by name rather than by a VIC card.
By 1946, just seven years after opening, the business had already outgrown its original downtown storefront and moved into a much larger location. Unfortunately, the location for that store is truly lost to history. By 1958, the Teeter brothers had expanded to six stores across the region.
Meanwhile, a remarkably similar story was unfolding just down the road in Charlotte.
William Thomas “W.T.” Harris had also started his career with A&P before borrowing $1,500 to open his own grocery store. Harris earned a reputation as an innovator. His stores were known for spotless aisles, exceptional customer service, and introducing one of North Carolina’s first self-service grocery concepts, allowing customers to select items directly from the shelves instead of handing a shopping list to a clerk. In 1949, Harris opened one of the area’s first modern supermarkets, complete with air conditioning and extended shopping hours until 9:00 p.m. on Fridays- things considered revolutionary at the time.
Although their stores operated in different cities, Teeter and Harris shared the same commitment to customer service and innovation. The two men met through the North Carolina Food Dealers Association and soon realized they could accomplish more together than apart.
In 1958, their companies began sharing purchasing power and warehouse facilities.
Then, on February 1, 1960, they officially merged to form Harris Teeter Super Markets, Inc. The new company combined 15 stores, instantly becoming the largest independent grocery organization in the Carolinas. Just three years later, the chain had grown to 25 stores.
Today, Harris Teeter operates more than 250 supermarkets and approximately 70 fuel centers across seven states and the District of Columbia, employing roughly 36,000 people. It remains one of the Southeast’s premier grocery retailers.
On January 28, 2014, Kroger acquired Harris Teeter for $2.5 billion.Not bad for two brothers who borrowed $1,700, took over the lease of a grocery store that someone else had given up on, and believed they could build something better.
As it turns out, they were right!
Interesting Sidebar: When Aunt Jemima Came to Mooresville
On October 15-16, 1954, Edith Wilson, the actress portraying Aunt Jemima, visited Mooresville and served free pancakes at Teeter’s Food Mart. While Wilson was not the first actress to portray Aunt Jemima, she was certainly the most famous.
Before becoming the national face of Aunt Jemima for Quaker Oats (1948–1966), she was an accomplished blues singer, Broadway performer, and actress.
She even shared the screen with Humphrey Bogart in the 1944 film To Have and Have Not. At the time of her visit, Wilson was a well loved and nationally recognized celebrity, Hundreds of local residents reportedly lined up outside Teeter’s Food Mart to meet her.
Interesting Grocery fact:
The industry average profit margin for grocery stores in the United States is 2.1%. Meaning, the profit On each dollar spent is 2 cents.
That means that every time we complain about spending $100 at the grocery store, the company is only making about $2.10!
