Last Updated on August 8, 2022 by Alis Lee
Wakefern Food Corp Has Sales Of $18.3 Billion
Chairman and CEO of Keasbey-Wakefern Foods, New Jersey. Joseph S. Colalillo, President and Chief Operating Officer Joe Sheridan (Joe Sheridan) and Executive Vice President Chris Lynn (Chris Lynn) at the company’s virtual annual shareholder meeting on October 22. Where he addresses to Wakefern shareholders, store management and employees.
The company announced retail sales of $18.3 billion for the 53-week fiscal year ending October 3, 2020, an increase of 9.75% over the previous year. Wakefern, the largest retail cooperative in the United States. Which is opened four new ShopRite® stores in the same period, ushered in a new slogan. Also, Fairway Market in Manhattan, and added a new member of the Maniaci family. Nicholas Supermarket, founded by the Manase family in 1943, now operates four FreshGrocer® supermarkets in northern New Jersey.
Hundreds of employees from the cooperative watched the annual meeting, which was broadcast live. The leadership reported on the 2020 fiscal year and how Wakefern and the family supermarket responded to various challenges. Furthermore, it provided support to the community during the unprecedented COVID-19 public health emergency. In addition to collaborative efforts to maintain store inventory and smooth operation during the crisis, Wakefern members have also integrated the latest security protocols for all stores.
Words of CEO Wakefern
Joseph S, Chairman and CEO of Wakefern, said: “Our store partners have taken their role. Their courage and commitment are amazing. They have revitalized their teamwork. In the past seven months, we have seen the whole organization has achieved our goal of caring deeply for people and helping them to eat and be happy. Colalillo, needless to say, this is exactly what we did.
Joe Sheridan, president and chief operating officer of Wakefern, said that a new customer has been created in 2020. However, the prospects are refreshed, including cooking at home and shopping online. In order to accommodate this new customer, Wakefern has added the functionality of popular online shopping products, including Home’s ShopRite. Sheridan said the company will continue to innovate, improve and expand the digital shopping experience.
Sheridan said: “In this difficult time, our customers turn to us for help to ensure their peace of mind and what their families need and need. We are there for our customers, our neighbours, our friends and our family. Provide services.” “A lot of changes have taken place in the way we operate and the way people shop, but our goal has always been to provide our customers with the best and safest shopping experience. And this is what we do.”
Chris Lynn, Executive Vice President of Wakefern, talked about the company’s successful initiatives. Moreover, the focus of the cooperative’s continued focus after a year of changes and severe challenges.
These achievements include the continued launch of the award-winning ShopRite store, Bowl & Basket and Paperbird, as well as the recent expansion and renovation of other award-winning brands, Wholesome Pantry and Wholesome Pantry Organic. This month, the popular Wholefood Pantry brand of barrier-free food is relaunched, which contains no additives and artificial ingredients, and has an updated look and feel, new innovative product selections, and a new slogan “Food Set Free”.
Wakefern also opened a second small order fulfilment centre, which uses advanced robots to quickly collect ShopRite grocery orders from home. Moreover, it expands the scope and capabilities of the store’s online shopping services. Lin said the cooperative plans to open more centres in the next few years to partially achieve its goals.
Lin also detailed Wakefern’s innovative plan to provide customers with fresh and healthy food and meals. Fresh to Table, which was unveiled in three ShopRite stores this month, has a convenient in-store layout. Also, provides customers with a new way to obtain fresh meal solutions and fashionable food. “Fresh experience from table to table” features a “one-stop dinner” that showcases five chef ingredients and meals inspired by nutritionists (changes every week). As well as “preparation and eating”, “eating and eating” and “Warm-up and diet” section. The “Fresh to the Table” experience also offers digital components. Including the newly designed ShopRite Order Express app and an integrated recipe shopping list, which can be purchased in ShopRite’s recipe store on shoprite.com via store and online QR codes.
Appreciation for CFO(Chief Financial Officer)
Lin said: “Even if we are responding to the global pandemic at the same time, we will continue to adhere to and lower the 2020 goal as always. Therefore, we can only thank each of you.”
Colalillo also presented this year’s Chairman’s Award to Doug Wille, the CFO of Wakefern who has just retired and thanked Doug for serving in the cooperative for more than 40 years. Wakefern’s ShopRite Financial Services (SFS) and former vice president of corporate finance Neil Falcon have been appointed as Wakefern’s new chief financial officer.
Geffrey Eickhoff, President and CEO of Eickhoff Supermarket Operations, was also welcomed by the new members of Wakefern’s board of directors during the meeting. The leadership also expressed gratitude to the retired board member Vince Lo Curcio of Nutley Park ShopRite Inc. For ten consecutive years serves the council.
Among the shareholders of Wakefern who were re-elected at the October 22 meeting. The board of directors: Colalillo, President and CEO; Sean McMenamin, Larri Wolfson, Dominic J. Romano and Irv Glass, Jr, Assistant Treasurer Geoffrey Brown (Geoffrey Brown); Secretary Richard Saker, Ned Gladstein, Nicholas Somas ( Nicholas Somas) and Assistant Secretary Sheridan was re-elected as president. Also, chief operating officer and Lane were re-elected as executive vice president.
About Wakefen Foods
Wakefern Food Corp has grown from a small local cooperative with 8 grocery store owners to the largest retail cooperative in the United States. The cooperative was established in 1946 and consists of 50 members. It is currently owned by:
- The Fresh Grocer,
- Price Rite Marketplace,
- Gourmet Garage,
- Fairway Market,
- Dearborn Market Signs
in New Jersey, New York, Connecticut, Pennsylvania, and Maryland. Operating 359 supermarkets. Delaware, Massachusetts, New Hampshire and Rhode Island. In addition to its member companies, Wakefern has more than 80,000 employees. Plus, is one of the largest employers in New Jersey. For more information, please visit www.wakefern.com.
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