Allegiance Retail Services Elects Board of Managers
Allegiance Retail Services LLC elected its board of managers and the board of directors of its affiliate, Foodtown Inc., as well as welcoming new members, at the company’s annual membership meeting held earlier this year in Hackensack, N.J.
Also at the meeting, which took place in March, the Iselin, N.J.-based company reported sales and income for fiscal year 2017 that exceeded its budget.
“The successful implementation of a robust merchandising system, and the gains being made by the membership utilizing our ecommerce platform, have better positioned us to meet today’s disruptive competitive environment head-on,” noted Allegiance President and COO John T. Derderian.
Elected to the Allegiance board of managers were Nicholas D’Agostino III, John Estevez, Christopher Evans (VP), Daniel Katz (secretary), David Maniaci (chairman and CEO), Esmail Mobarak (treasurer), Louis Scaduto Jr. (vice chairman) and John Shakoor, with Derderian reappointed to the body as an officer of the company.
“In the midst of some profound price deflation early in the year, Allegiance excelled in many aspects of the business, and realized strong sales performance,” said Maniaci. “The results from our strategic initiatives has led to better alignment with today’s convenience-oriented and quality-driven consumer.”
The newly elected board’s first orders of business were to declare the 2017 patronage dividend and affirm approval of the 2018 strategic initiatives.
Two new members, companies owned by Gary Schneiderman and Aron Hirtz, joined the retailer-owned cooperative in the past year.
Allegiance provides independent supermarkets, including Foodtown, Freshtown, Freshco, D’Agostino, LaBella Marketplace, Brooklyn Harvest, Market Fresh, Big Deal Food Market, Kissena Glatt Farms, Shop n Bag, and JRs Fresh Foodtown, with marketing, advertising, technological and merchandising support, as well as a full line of Foodtown private label products.