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Wakefern Sales Up 8.5%

KEASBEY, N.J. — Wakefern Food Corp. here said Thursday that retail sales for the fiscal year that ended Oct. 1 were up 8.5%, to $12.8 billion, vs. year-ago results, and that warehouse sales totaled $9.5 billion.

In connection with its annual meeting Thursday, Wakefern also formally announced its previously disclosed succession plans for the retirement of its longtime president and chief operating officer, Dean Janeway. He has been succeeded by Joe Sheridan, who had been executive vice president. Janeway remains with Wakefern as president emeritus until his official retirement in January 2012.

"Dean has led Wakefern through a period of unprecedented growth," said Joseph S. Colalillo, chairman and chief executive officer, Wakefern. "His dedication to seeing Wakefern's members succeed is at the heart of our success."

"I am pleased to congratulate Joe Sheridan on this much-deserved appointment," said Janeway. "Wakefern's many successes over the years — including those of its members, staff and associates — that have culminated in this year's record-breaking achievements, have made me so very proud to be a member of this team. We are truly a family of families and I am grateful to have had the opportunity to serve them all."

Wakefern also said that it has established The Dean Janeway Endowment for Healthcare Excellence at the Foundation of the University of Medicine and Dentistry of New Jersey. Janeway will designate the $1 million endowment to support research, scholarships for future healthcare professionals or patient care and community service programs for the underserved.

SN named Wakefern and its ShopRite chain winner of the 2011 Retail Excellence Award earlier this month.