Wakefern Food Corp. Announces $16 Billion in Retail Sales
Keasbey, NJ (Oct. 27, 2016) – Wakefern Food Corp. Chairman and CEO Joseph S. Colalillo and President and COO Joe Sheridan addressed Wakefern shareholders, store management and staff at the company’s annual shareholder meeting today in East Brunswick, New Jersey.
The company reported record retail sales of $16 billion for the 52-week fiscal year ending Oct. 1, 2016, a 4.2 percent increase from the prior year. The cooperative opened 11 new ShopRite® stores, two The Fresh Grocer® stores, one Price Rite® and one new format store, Dearborn Market,® during the same period.
“Wakefern marks its 70th anniversary this year, and we are proud of our history of success and service in the communities where our family-owned and operated supermarkets are located. We’ve grown and changed a lot in the past 70 years, but our founding entrepreneurial spirit and principles remain the same. We will continue to grow and innovate to provide our customers with the very best shopping experience,” Colalillo told a gathering of 900 people at the Hilton in East Brunswick.
Colalillo announced the retirement of two members from Wakefern’s Board of Directors: Robert Clare, president of the ShopRite of Oakland, Inc., and Richard McMenamin, chairman of McMenamin Family ShopRite, LLC.
“We thank Bob and Rich for their 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 Sean McMenamin, president of McMenamin Family ShopRite, LLC, and Shawn Ravitz, vice president of administration for Supermarkets of Cherry Hill, Inc. “We look forward to working with our new board members and the entire board as we shape our future successes.”
Wakefern President and COO Joe Sheridan, right, recapped the company’s growth and accomplishments while also kicking off the launch of ShopRite’s Wholesome Pantry private label line of products made with simple, clean ingredients.
“From our retail dietitian program to our expanding private label lines and digital presence, Wakefern Food Corp. and our supermarket banners are meeting the future head-on to provide great customer experiences in store and online,” said Sheridan.
Also at Thursday’s meeting, Wakefern shareholders re-elected to the Board of Directors included: 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; Ned Gladstein and Nicholas Sumas, Assistant Secretaries; as well as Jordan Coe, Lawrence Collins, Sr., Harry Garafalo, Jon Greenfield, Charles Infusino, Vincent Lo Curcio III, Leonard Sitar and Richard Tully. Joe Sheridan was also re-elected as President and COO.