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At Wakefern Food Corp.'s annual shareholders meeting, the retailer cooperative reported record retail sales of $15.7 billion for the 53-week fiscal year ending Oct. 3, 2015 – a 6.7 percent increase from the prior year – and $12.8 billion in wholesale sales.
During the same period, the company opened five new ShopRite stores and four Price Rite stores.
"Our customers have different expectations of us today, and we need to meet those expectations," observed Wakefern Chairman and CEO Joseph S. Colalillo. "We are going to deliver that customer experience by uniting around our purpose and bringing our values to life in our stores."
Colalillo also revealed the retirement of two longtime members of Wakefern's board of directors: Steve Ravitz, president of Supermarkets of Cherry Hill, and Kenneth Capano, president and CEO of Five Star Supermarkets. "Both men will remain active in their own companies and with the cooperative," he said, going on to welcome new board members Neil Greenstein, president of Brookdale ShopRite/ShopRite of Newark, and Marshall Klein, VP and COO of Klein's Shoprite of Maryland.