Wakefern Food Corp. Reaches $18.6B for Fiscal Year 2022; Joseph S. Colalillo Details
KEASBEY, NJ - The past year has not been one lacking in challenges for retailers; however, Wakefern Food Corp. persevered and pulled through with a win. Recently, the company revealed that it had hit a record $18.6 billion in sales for the 52-week period ending October 1, 2022.
“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,” said Joseph S. Colalillo, Chairman and Chief Executive Officer in an address to the company’s shareholders, store management, and staff on October 20. “There’s no doubt that the supermarket industry has faced challenges in recent years. 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.”
Over the past year, the retailer managed to increase its sales by 4.69 percent, according to a release. Additionally, Wakefern opened three new ShopRite® stores, a Gourmet Garage®, and welcomed Gerrity’s Supermarkets in Pennsylvania to its fold, which now operates 10 Fresh Grocer® supermarkets in the northeastern part of the state. Price Rite Marketplace® also reported retail sales of $850 million, a 6 percent rise from the year prior.
Moving forward, Colalillo discussed the company’s continued technological advancements, its e-commerce programs, and growth opportunities across its six banners.
At the shareholders meeting, the CEO also presented this year’s Chairman’s Award to Cheryl Macik, Wakefern’s newly retired Director of Consumer Care.
“Cheryl has worked tirelessly to elevate our customer care programs and service,” said Colalillo. “Her legacy as a champion of the ShopRite customer has forever changed our organization, and her impact will never be forgotten.”
What new feats will Wakefern achieve in fiscal year 2023? Only time and AndNowUKnow will tell, so keep reading.