Wakefern Bullish On Future Growth
Wakefern Food Corp. officials are bullish on the future of the company as the grocery co-operative continues to make advancements in several areas of its business including its assortment of own brand products.
During the company’s annual shareholders’ meeting in Parsippany, N.J., Wakefern reported retail sales of $20.1 billion for its 52-week fiscal year ending September 28, a 2.2% increase from the prior year. With sales up year-over-year, company officials said Wakefern continues to make advancements in technology, e-commerce, and own brands as it works to enhance the customer shopper experience across its seven supermarket banners.
“There is excitement we can all feel in the air with what’s happening at Wakefern right now, and the possibilities of what we can achieve together,” said Sean McMenamin, chairman of Wakefern. “I think that excitement comes from the fact that we have a bold plan for growth and we are embracing our brand and legacy as the trusted neighborhood grocer.”
Specifics on Wakefern’s plan for growth were not detailed in a company press release providing an overview of the annual meeting.
The co-op also welcomed food retailer Di Bruno Bros. into the company’s family of brands. A purveyor of gourmet cheeses and cured meats in the Philadelphia area since 1939, Di Bruno Bros. operates retail stores in the city while distributing specialty and imported oils, sauces, cheese spreads, jams, crostini, and more to wholesale and retail customers nationwide.
“This new venture represents a tremendous opportunity for Wakefern as we look to expand the distribution of these delicious and distinct groceries nationally through a dedicated sales team,” said Mike Stigers, Wakefern’s president.
