New Store to Sell 'Expired' Food

Daily Table will only sell food that has passed the sell-by date.
3:00 | 01/23/14

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Transcript for New Store to Sell 'Expired' Food
This is an interesting story you have. Yeah, it's a very interesting concept. Curious to see what everybody thinks about it. Now to a new store selling old food. Americans waste billions of dollars a year throwing out food that is past its sell by date but most of that is actually still good to eat. The former president of trader's Joe grocery store has come up with a way to cut down on all that waste. It is a staggers number, 40% of food produced in America each year wasted. That's 160 billion pounds of food in the trash. The main culprit, this, the sell by dates. I'm very conscious of health issues. Reporter: Right now, 90% of us are throwing out food. Not realizing the fda says most products past their label's prime are generally still safe to eat. There is no correlation between an expiration date and the sell by and Best Buy dates. They are not indications of food safety. Reporter: So this morning, Doug Rauch, the former head of trader Joe's, is set to launch a new store that will only sell food other chains deem unsellable. These are guidelines that grocers use to sell something when it's at its peak, maximum flavor and a day or two after that is still a good product. Reporter: The plan is to buy up outdated, damaged or blemished food from grocery store, restaurants and producers and central it at a grocery store and restaurant he's calling daily table. The idea behind the daily table is to bring affordable nutrition down to the inner cities in America and offers it for pennies on the dollar. Reporter: The first daily table will open its doors in dorchester, Massachusetts, this may. And if it does well, look for more daily tables around the country. Need to know more. Need to know more. As long as it's safe but -- Which are safe and which ones aren't? Exactly. And the food is generally safe, they say. Generally is a very vague term. Well, and the labeling. If there is a labeling issue maybe we can fix the labeling issue rather than guess. I'm all about not wasting. Absolutely. We'll need a follow-up here. Yeah. First, another check of the

This transcript has been automatically generated and may not be 100% accurate.

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