Wakefern Food Corp. Announces $16.3 Billion in Sales
Keasbey, NJ (Oct. 31, 2017) – Wakefern Food Corp. Chairman and CEO Joseph S. Colalillo, President and COO Joe Sheridan and Executive Vice President Chris Lane addressed Wakefern shareholders, store management and staff at the company’s annual shareholder meeting October 26 in East Brunswick, NJ.
The company reported record retail sales of $16.3 billion for the 52-week fiscal year ending September 30, 2017, a 1.5 percent increase from the prior year. The largest retailer-owned cooperative in the United States, Wakefern and its members opened four new ShopRite® stores, two The Fresh Grocer® stores and two Price Rite® Marketplace stores during the same period.
“Our family-owned-and-operated supermarkets and their dedicated associates supported by knowledgeable and innovative Wakefern staff make the difference in this business and serve as the foundation for our strength and success,” Joseph Colalillo told an audience of nearly 900 people at the Hilton in East Brunswick.
Colalillo announced the retirement of Neil Duffy, President, Price Rite Marketplace, a registered trademark of Wakefern with 64 grocery stores in nine states.
“Neil’s dedication and hard work helped grow the popular Price Rite brand over the last 12 years, and we thank him for his service to Wakefern,” said Colalillo.
He also announced the retirement of Larry Collins from Wakefern’s Board of Directors and the addition of Patrick J. Burns, CEO of Burns’ Family Neighborhood Markets, to the board.
“We thank Larry for his service and commitment to the board. He will remain active in the cooperative and his own company, Collins Family Markets, which operates ShopRite stores in Philadelphia, Eddystone and Glenolden, PA,” noted Colalillo. “We welcome to the board Patrick Burns, who brought The Fresh Grocer stores into the cooperative in 2013. We look forward to working with Pat and the rest of the board to shape future success.”
Joe Sheridan recapped the company’s accomplishments over the last year, including its expansion of ShopRite’s popular Wholesome Pantry line of products made with simple, clean ingredients, and the introduction this year of its newest own brand, ShopRite Trading Company.
“Wakefern Food Corp. and our supermarket banners continue to innovate and elevate the customer experience with great new brands, our store dietitians, digital platforms, and a real focus on fresh,” noted Sheridan.
“We are committed to providing great community stores and delivering exceptional experiences with each of our four brands. It’s a time of great change for the supermarket industry, and I am excited for what we will achieve over the course of the next year and for generations to come,” added Chris Lane.
Wakefern shareholders re-elected to the Board of Directors at Thursday’s meeting include: Joseph Colalillo, Chairman and CEO; Larri Wolfson, Irv Glass and Dominick J. Romano, Vice Chairmen; Lawrence Inserra, Jr., Treasurer; Jeffrey Brown, Assistant Treasurer; Richard Saker, Secretary; and Ned Gladstein and Nicholas Sumas, Assistant Secretaries. Joe Sheridan was also re-elected as President and COO, and Chris Lane was elected as Executive Vice President.
About Wakefern Food Corp.
From a small, local cooperative that began with eight grocery store owners, Wakefern Food Corp. has grown into the largest retailer-owned cooperative in the United States. Founded in 1946, the cooperative comprises 50 members who today independently own and operate 345 supermarkets under the ShopRite, The Fresh Grocer, Price Rite and Dearborn Market banners in New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, Rhode Island and Virginia. Together with its member companies, Wakefern employs more than 70,000 people, and is one of the largest employers in New Jersey. For more information, please visit www.wakefern.com.