Wakefern Food Corp. reported record sales of $16.3 billion for the 52-week fiscal year ending Sept. 30, a 1.5 percent increase from the prior year.
Wakefern Chairman and CEO Joseph Colalillo reported the financial results at an annual shareholder meeting Oct. 26 in East Brunswick, New Jersey, along with President and COO Joe Sheridan and EVP Chris Lane.
At the meeting, Colalillo also announced the retirement of Neil Duffy, president of 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 announced the addition of Patrick 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, Pennsylvania,” said 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 our future success.”
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,” Colalillo told an audience of nearly 900 people at the Hilton in East Brunswick.
Sheridan recapped the company’s accomplishments over the last year, which include its expansion of ShopRite’s 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 continued focus on fresh,” noted Sheridan.
“We are committed to providing great community stores and delivering exceptional experiences with each of our four banners. 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 Lane.
Wakefern shareholders re-elected to the board of directors at Thursday’s meeting include: Colalillo as chairman and CEO; Larri Wolfson, Irv Glass and Dominick Romano, vice chairmen; Lawrence Inserra Jr., treasurer; Jeffrey Brown, assistant treasurer; Richard Saker, secretary; and Ned Gladstein and Nicholas Sumas, assistant secretaries. Sheridan also was re-elected as president and COO, and Lane was elected as EVP.