Sponsored By

Wakefern closes out fiscal year on an up note

Execs cite upgraded stores, expanded private label at shareholder meeting

Russell Redman

October 27, 2018

3 Min Read
Wakefern
Chairman and Chief Executive Officer Joseph ColalilloWakefern

Retail sales climbed for the 2018 fiscal year at grocery cooperative Wakefern Food Corp.

The 50-member, retailer-owned co-op said Friday that sales for its ShopRite, The Fresh Grocer, Price Rite Marketplace and Dearborn Market supermarket banners totaled $16.5 billion, a gain of 1.6% year over year.

During the 52-week period, Wakefern opened four new ShopRite stores and two Price Rite Marketplace stores. The locations included ShopRite stores in Philadelphia and the Bronx, Lake Ronkonkoma and Rensselaer, N.Y., and Price Rite stores in Paterson, N.J., and Amherst, N.Y.

The Keasbey, N.J.-based company finished the year with 352 stores in 10 states: New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, New Hampshire, Rhode Island and Virginia.

Wakefern executives gave an update on the business yesterday at the company’s annual shareholder meeting in East Brunswick, N.J.

“Thank you for believing that our way of doing business — a cooperative of family-owned businesses — can compete and win against the competition that comes our way,” Chairman and Chief Executive Officer Joseph Colalillo told about 900 attendees. “The strong relationships we've created with our customers have built our brands and businesses.”

According to President and Chief Operating Officer Joe Sheridan, Wakefern plans more new stores and remodels for 2019 as well as an expansion of its e-commerce offerings and capabilities. For example, he reported that the company is testing artificial intelligence and next-generation learning technology to enhance the retail experience.

Related:Price Rite ushers in new retail concepts

Joe_Sheridan_Wakefern_COO_2018_shareholder_meeting_0.png

President and Chief Operating Officer Joe Sheridan

“Wakefern and our supermarket banners — ShopRite, Price Rite Marketplace, The Fresh Grocer and Dearborn Market — are always working to innovate and elevate the customer experience,” Sheridan said at the event. “The supermarket industry is changing rapidly, and we are adapting to provide exceptional shopping experiences, both in store and online.”

Looking at retail operations, Executive Vice President Chris Lane pointed to rebranding initiatives, including at Price Rite, and an expanded private-label portfolio.

Earlier this month, Price Rite unveiled new store designs, broader fresh and private-label offerings and enhanced price savings at locations in Bethlehem, Allentown and Secane, Pa. And at the end of May, ShopRite introduced a premium store brand called ShopRite Trading Company, which made its debut with about 40 items.

Lane added that Wakefern also is building a team to source on-trend products with innovative packaging and design.

Related:Wakefern hires former Giant exec to lead marketing

"So much has changed in such a short amount of time in the supermarket industry,” he said to shareholders. “What hasn't changed for Wakefern is our commitment to helping small businesses succeed in a big-business world.”

Chris_Lane_Wakefern_2018_shareholder_meeting_0.png

Executive Vice President Chris Lane

Also at the event, Colalillo announced the retirement of Chuck Infusino, president of Little Falls ShopRite Supermarkets Inc., from the Wakefern board of directors and the appointment of Tom Cingari, a partner in Grade A Market of Connecticut to the board.

“We thank Chuck for his service and commitment to the board. He will remain active in the cooperative and his own family company, which operates the ShopRite of Little Falls,” Colalillo commented. “We welcome Tom to the board and look forward to working with him and all the board members to shape the course of our cooperative's future.”

Shareholders re-elected to Wakefern’s board at the meeting were Colalillo as chairman and CEO; Larri Wolfson, Dominick J. Romano and Irv Glass as vice chairmen; Lawrence Inserra Jr. as treasurer; Jeffrey Brown and Sean McMenamin as assistant treasurers; Richard Saker as secretary; and Ned Gladstein, Nicholas Sumas and Shawn Ravitz as assistant secretaries. Also re-elected to executive posts were Sheridan as president and COO and Lane as executive vice president.

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

Stay up-to-date on the latest food retail news and trends
Subscribe to free eNewsletters from Supermarket News

You May Also Like