Wegmans Food Markets, Inc.

  • Overview

One name strikes fear in the hearts of supermarket owners in New York, New Jersey, Pennsylvania, Virginia, and now Maryland and Massachusetts. Wegmans Food Markets. The regional grocery chain owns more than 80 stores, but they are hardly typical. Much larger than most supermarkets (up to 140,000 sq. ft.), they offer more than 70,000 products and house huge in-store cafes, cheese shops with some 300 different varieties, sub shops, and French-style pastry shops. The company is known for its gourmet cooking classes and an extensive employee-training program. Founded in 1916, today Wegmans is one of the largest private companies in the US. The grocery chain is owned and run by the family of founder John Wegman.

Geographic Reach

Rochester, New York-based Wegmans Food Markets operates more than half (46) of its 80-plus stores in its home state. Pennsylvania is next with about 15 stores.

Financial Performance

The addition of new stores in new markets has spurred sales growth. Indeed, Wegmans rang up an estimated $6.8 billion in sales in 2013, compared with $6.6 billion and $6.2 billion in sales in 2012 and 2011, respectively. The upscale regional grocery chain, which aims to deliver a shopping experience more akin to a European open-air market than a traditional supermarket, has also benefited from the recovering US economy.

Strategy

Under CEO Danny Wegman (and his daughter president Colleen Wegman) the chain is entering new markets and introducing new formats. In 2014 it plans to enter the Richmond, Virginia market. After opening its first Massachusetts store (in Northborough) in 2011 it opened another store in Cherry Hill in April 2014 with a third slated for Burlington, Massachusetts in the fall. Other new markets for Wegmans include northern New Jersey. The chain entered Maryland three years ago and now operates about a half a dozen stores there. Key to Wegmans' success is its competitive pricing, mostly on its popular private-label products. (The chain launches periodic price freezes on dozens of seasonal products.) The retailer's aggressive private-label strategy includes frequent product updates and innovation. Wegmans recently introduced a line of gluten-free private-label items, including pasta and cake mixes. Wegmans is not only popular with shoppers, but also with employees. The company has landed on FORTUNE magazine's list of the "100 Best Companies to Work For," in each of the past 16 years and captured the #5 spot in 2013; it was ranked #1 in 2005.

Ownership

Wegmans Food Markets is a privately held, family-owned company, founded in 1916 by the Wegman family.

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Wegmans Food Markets, Inc.


1500 Brooks Ave
Rochester, NY 14624-3589
Phone: 1 (585) 328-2550
Fax: 1 (585) 3280713
www.wegmans.com

STATS


  • Employer Type: Private
  • Chairman and CEO: Daniel Wegman
  • Chairman and CEO: Daniel Wegman
  • President: Colleen Wegman

Major Office Locations

  • Rochester, NY
  • Rochester, NY

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SALARY FINDER

SALARY FINDER

Health Service Administrator

  • $0
  • 25
  • 50
  • 75
  • 100
  • 100+
Yearly Salary Range (US$ Thousands)