Excluding the pandemic-driven boom in 2020, ShopRite parent Wakefern Food Corp. posted its largest sales gain over the last five years in fiscal 2022.
For the 52 weeks ended Oct. 1, retail sales climbed to a record $18.6 billion, up 4.7% from $17.8 billion in fiscal 2021, Wakefern said yesterday. The uptick marked a rebound from last year’s 2.7% dip that followed a nearly 9.8% surge in fiscal 2020. In the prior two years, the retail grocery cooperative had seen marginal sales increases, up 0.7% in fiscal 2019 and 1.6% in fiscal 2018.
Wakefern first shared its 2022 results with shareholders, co-op members, store management and staff last week at its annual meeting.
“We are committed to giving customers the value they depend on from our stores, and we will go beyond again in 2023 to be laser-focused on helping our shoppers,” Wakefern Chairman and CEO Joseph Colalillo told attendees at the event.
Driving growth in own brands, such as Bowl & Basket, is a pillar of Wakefern's strategic plan for 2023.
During the meeting, Colalillo highlighted Wakefern’s technology and e-commerce advances as well as growth strategies for its six supermarket banners: ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage and Fairway Market. Value grocery chain Price Rite, in fact, turned in a strong fiscal 2022 with retail sales of $850 million, up 6% year over year.
AT A GLANCE: WAKEFERN 5-YEAR SALES PERFORMANCE
• Fiscal 2022 — $18.6 billion, +4.69% (YOY)
• Fiscal 2021 — $17.8 billion, -2.73%
• Fiscal 2020 — $18.3 billion, +9.75%
• Fiscal 2019 — $16.6 billion, +0.7%
• Fiscal 2018 — $16.5 billion, +1.6%
Another core objective, Colalillo said: growing Wakefern’s Bowl & Basket, Wholesome Pantry and Paperbird private labels and sharpening promotions and pricing. On the private-brand side, Wakefern in March had announced plans for Own Brands Supplier Innovation Summit to bolster its roster of sourcing partners for Bowl & Basket and Wholesome Pantry. The summit’s winning vendors were unveiled last month.
Despite supply chain shortages, a tight labor market and industry headwinds in competition, Wakefern remains resilient, Colalillo noted at the annual meeting, which was broadcast live and drew thousands of associates from across the cooperative.
Wakefern added a new member in 2022 — Gerrity's Supermarkets, which now has 10 Fresh Grocer stores in northeastern Pennsylvania.
“There’s no doubt that the supermarket industry has faced challenges in recent years,” he 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.”
Wakefern opened three new ShopRite stores and one Gourmet Garage location in fiscal 2022. The co-op also added a new member, Scranton, Pa.-based Gerrity’s Supermarkets, which now operates 10 Fresh Grocer supermarkets in northeastern Pennsylvania.
Also at the meeting, Colalillo presented this year’s Chairman’s Award to Cheryl Macik, Wakefern’s recently retired director of customer care. “Cheryl has worked tirelessly to elevate our customer care programs and service,” he commented. “Her legacy as a champion of the ShopRite customer has forever changed our organization, and her impact will be never be forgotten.”
The largest U.S. retailer-owned cooperative, 76-year-old Wakefern encompasses 48 members that independently own and operate 365 supermarkets under the ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage and Fairway Market banners in New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, New Hampshire and Rhode Island.
