Inside This Issue - News
Wakefern sees revenue climb
November 15th, 2010
EAST BRUNSWICK, N.J. – After opening 18 new stores last year, Wakefern Food Corp. saw its annual sales increase to nearly $12 billion, executives said at the company’s annual meeting here late last month.
"In spite of the state of the economy, we’ve been able to grow," chairman and chief executive officer Joseph Colalillo told shareholders at the October 28 meeting.
"We’ve entered new markets while our competitors are exiting them," he pointed out. "We’ve opened new stores while many of our competitors are closing them. And our customers are rewarding us with their loyalty in the midst of some of the stiffest competition we have seen in decades."
For the year ended October 2, Wakefern, whose stores are independently owned but operate under the ShopRite and PriceRite banners, saw its sales increase 2.8% to $11.8 billion.