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Wakefern posts annual sales gain
Wakefern Food Corp. on Thursday reported retail sales of $15.7 billion for the 53-week fiscal year ended Oct. 3, a 6.7% increase from last year, and $12.8 billion in wholesale sales.
October 29, 2015
2 Min Read
Wakefern Food Corp. on Thursday reported retail sales of $15.7 billion for the 53-week fiscal year ended Oct. 3, a 6.7% increase from last year, and $12.8 billion in wholesale sales.
The member-owned co-op announced the figures during its annual meeting in East Brunswick, N.J.
The cooperative opened five new ShopRite stores and four Price Rite stores during the year. “Our customers have different expectations of us today, and we need to meet those expectations. We are going to deliver that customer experience by uniting around our purpose and bringing our values to life in our stores,” Colalillo told a gathering of 900 people at event.
Colalillo announced the retirement of two longtime members from Wakefern’s board of directors: Steve Ravitz, president of Supermarkets of Cherry Hill, and Kenneth Capano, president and CEO of Five Star Supermarkets. “We thank Steve Ravitz and Ken Capano for their decades of service, wisdom and expertise on the board. Both men will remain active in their own companies and with the cooperative,” said Colalillo, who also welcomed new board members Neil Greenstein, president of Brookdale ShopRite/ShopRite of Newark, and Marshall Klein, VP and COO of Klein’s Shoprite of Maryland.
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“Our world is rapidly evolving and we are transforming with it,” noted COO Joe Sheridan. “We’re optimizing our brick-and-mortar experience, accelerating our digital platforms and engaging our associates to deliver the ultimate customer experience.”
Also at Thursday’s meeting, Wakefern shareholders elected to the board of directors: Joseph S. Colalillo as chairman and CEO; Larri Wolfson, Irv Glass and Dominick J. Romano as vice chairmen; Lawrence Inserra, Jr., treasurer; Jeffrey Brown, assistant treasurer; Richard Saker, secretary; Ned Gladstein and Nico Sumas, assistant secretaries; as well as Robert Clare, Jordan Coe, Lawrence Collins, Sr., Harry Garafalo, Jon Greenfield, Charles Infusino, Vincent Lo Curcio III, Leonard Sitar, Richard Tully and Richard McMenamin.
Sheridan was also re-elected as president and COO.
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