Wakefern Food Corp. chairman and CEO Joseph S. Colalillo announced record sales revenue of $18.6 billion for the 52-week fiscal year ending October 1, a 4.69 percent increase from the previous year, during its annual shareholders' meeting.
The largest retailer-owned cooperative in the U.S., Wakefern opened three new ShopRite stores, a Gourmet Garage, and welcomed a new member, family-owned Gerrity’s Supermarkets in Pennsylvania, which operates 10 Fresh Grocer supermarkets in the state.
Sales of $850 million, up 6 percent from the year before were also reported for Price Rite Marketplace.
Colalillo spoke about the company’s continued technological advancements, its robust ecommerce programs, and growth opportunities for Wakefern’s six supermarket banners: ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, and Fairway Market.
He mentioned the desire for the company to grow its private label lines Bowl & Basket, Wholesome Pantry, and Paperbird, while continuing to sharpen its promotions and pricing.
“There’s no doubt that the supermarket industry has faced challenges in recent years,” Colaillo said. “But as we’ve always done, Wakefern Members will succeed thanks to their own expertise as grocers and their dedicated teams of retail associates. We are committed to providing our customers with the best possible shopping experience at every touchpoint.”
Colaillo asserted that despite supply chain shortages, a tight talent market, and competitive industry headwinds, the company remains resilient, competitive, and committed to serving its communities and staff.
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