In March, Wegmans Food Markets was named to Ethisphere’s 2011 “World’s Most Ethical Companies” List for a third time. The first came in 2007 and the second in 2010. CEO Danny Wegman said of the recognition, “…it shines a light on the importance of our values: caring, respect, high standards, empowerment, and making a difference in the community.”
- Headquarters: Rochester, NY
- Founding year: 1916
- Number of locations as of January 2011: 77
- 2010 annual sales: $5.6 billion
With this kind of a response, it’s no wonder Wegmans was also ranked number three on the 14th annual “100 Best Companies to Work For” list by Fortune. “There is nothing more important to us than being a great place to work,” said CEO Danny Wegman. “When our people feel valued and cared about, they in turn make our customers feel the same.”
With its culture clearly intact, Wegmans further differentiates itself with what products it offers and how it displays them. Its design resembles a European open-air market, with displays of fresh-caught seafood, cheeses, and international foods along with a regular grocery complement. But even its regular assortment is better than the rest—according to the Food Marketing Institute, most grocery stores have 40,000 items, whereas Wegmans stocks more than 70,000.
Wegmans also carries a full line of private label goods, from potato chips to pastas, to build on its promise to consumers that it will consistently offer low prices on family items. On the company’s website, the Wegmans family makes the following promise to its customers: As food costs rise, we’re focused on keeping ourprices low—and our quality and service high. With that, we will not change the prices on 40 of the products most important to families through the end of 2011. That’s what we mean by Consistent Low Prices. We hope this—plus more low prices and great Wegmans brand items throughout the store—will help you and your family make great meals easy, healthy, and affordable.