Grocery Outlet Holding Corp. experienced year-over-year net sales growth of 6.3% to $989.8 million for the fourth quarter of 2023, the company reported Tuesday in its Q4 earnings report.
Gross margins were flat for the quarter at 30.2%, while comparable store sales ticked up 2.7% year over year, a move that was driven by a 7.5% increase in transactions, the company reported. Average transaction size was down, however, to 4.5%.
Grocery Outlet opened 13 new stores in Q4, ending the quarter and the year with 468 stores across nine states.
Meanwhile, net income was down 11.2% to 14.1 million year…
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Tag: supermarkets
Checkout terminal manufacturer Diebold Nixdorf released new technology Thursday that uses artificial intelligence at its cashierless registers to reduce shrink, verify age for liquor sales, and speed up the process of buying products without barcodes.
The Canton, Ohio-based company debuted the new technology this week at the National Retail Federation’s Big Show convention in New York City, where Christoph Annemüller, Diebold Nixdorf’s head of AI product management, gave Supermarket News a sneak peak.
The new technology uses computer vision to detect whether shoppers deliberately fail to scan an item, accidentally add an item without scanning, use false barcodes, or scan…
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