Wakefern Food Corporation Announces $16.6 Billion in Sales
KEASBEY, NJ - Maybe it’s because I’m getting ready to spend big on Christmas shopping, but this time of year has some sort of lucrative spirit about it. Wakefern Food Corp. might be feeling the same, as it made some exciting announcements at its annual shareholder meeting today. Shareholders, store management, and staff gathered in East Brunswick, New Jersey, and were addressed by Chairman and CEO Joseph S. Colalillo, President and COO Joe Sheridan, and Executive Vice President Chris Lane.
“It’s a time of great change and challenge in our industry, but we’re excited for the journey ahead. With every new program we roll out, we are committed to providing the best shopping experience for our customers and creating the supermarket of the future,” Colalillo told the audience of nearly 800 people.
According to a press release, the company reported retail sales of $16.6 billion for the 52-week fiscal year ending September 28, which is a 0.7 percent increase from the prior year. This year, Wakefern opened five new ShopRite® stores and welcomed a new banner, Manhattan-based Gourmet Garage. Sheridan said that technology plays a key role in the push forward, with the company incorporating capabilities that elevate the customer experience both in store and online.
“We are embracing change because customers are embracing change—the way they shop, the way they work, and the way they live,” Sheridan noted. “We are pairing high tech with a human touch to provide the very best shopping experience. Today’s customers want great online shopping options, but they also want a personalized experience. Our promise is that we will deliver all of that to our customers.”
In July, Wakefern opened the first stand-alone micro-fulfillment center in the U.S. Using advanced robotics to quickly assemble ShopRite from Home® grocery orders, the facility enables the retailer to expand the reach of its services. The company is also making it easier for customers to design their own cakes and order catering and deli items online, and ShopRite dietitians are now available to answer customer questions through online chat. Lane reported on the recent launch of ShopRite’s new Right Price Promise, and plans to introduce two new innovative store brands, Bowl & Basket™ and Paperbird™, in November.
“With these pioneering launches we are truly elevating the ShopRite experience for each and every customer who walks through our doors,” said Lane. “We are ready to deliver to the next generation of shoppers the products and store experience that will make ShopRite their market of choice for their family meals, foods on-the-go, and grocery needs.”
Right Price Promise reflects a commitment to everyday low prices on the items customers purchase most frequently. By moving to everyday value pricing on key items, customers can count on ShopRite as their one-stop shopping destination. ShopRite’s planned launch of Bowl & Basket and Paperbird food and household lines next month will kick off a transformation of the retailer’s brands.
Congratulations to Wakefern on releasing all of this exciting news!
