AndhraNews.net
Home » Business News » 2011 » June » June 9, 2011

Coinstar and Safeway Announce Agreement to Install Coin-Counting Kiosks


June 9, 2011 - Bellevue, Wa And Pleasanton, CA

Coinstar, Inc. (NASDAQ: CSTR), with its leading self-service coin-counting brand, and Safeway Inc. (NYSE: SWY), a leader in the supermarket industry, today announced an agreement to install approximately 1,400 Coinstar® kiosks in Safeway's stores in the United States and Canada by the end of 2011.

"Coinstar brings a turnkey service and two decades of experience managing the operational intricacies associated with self-service coin kiosks," said Brian Dowling, vice president of Public Affairs for Safeway. "We are confident our customers will be pleased with the flexibility of being able to turn their coins into cash, store purchases, or, in the future, a gift card."

Coinstar kiosks are expected to be installed in Safeway stores and its banners including Vons, Dominick's, Randalls, Tom Thumb, Genuardi's, Pavilions, Carrs and Pak N' Save. Installations are planned to begin this month.

"We share Safeway's vision of providing quality products, innovation and a positive consumer experience," said Mike Skinner, president of Coinstar's Coin business. "As a leader in self-service coin-counting, our patented technology and product offerings give Safeway consumers the utmost in convenience, value and choice."

With Coinstar, consumers can conveniently turn their coins into cash, apply their coin value to store purchases or donate to a non-profit organization. In the future, Coinstar and Safeway plan to offer consumers a no-fee option when consumers choose a gift card or eCertificate from a variety of national retailers.

ABOUT COINSTAR

Coinstar, a Coinstar, Inc. brand, is the leader in the self-service coin-counting services and owns and operates the only multi-national, fully automated network of self-service coin-counting kiosks. The company has approximately 18,800 coin-counting locations in the United States, Canada, Puerto Rico, Ireland and the United Kingdom, and since its inception, Coinstar has processed more than $27 billion in change. Coinstar makes it simple to convert coins to cash or store credit or consumers can receive no-fee coin-counting when choosing a gift card or eCertificate. For more information on Coinstar coin-counting visit www.coinstar.com and for information on Coinstar, Inc., visit www.coinstarinc.com.

ABOUT SAFEWAY

Safeway Inc. is a Fortune 100 company and one of the largest food and drug retailers in North America, based on sales. The company operates 1,694 stores in the United States and western Canada and had annual sales of $41.1 billion in 2010. The company's common stock is traded on the New York Stock Exchange under the symbol SWY. For more information, visit www.safeway.com.

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including phrases conveying expectation or intent and other expressions identifying future performance. Forward-looking statements are not guarantees of future performance which may vary materially from performance expressed or implied in the forward-looking statements. Differences may result from actions taken by Coinstar, Inc. or Safeway as well as those of third parties and from risks and uncertainties beyond our control. Such risks and uncertainties include, but are not limited to, changes in the number and timing of anticipated locations, the services or products available at each kiosk, and the termination, non-renewal or renegotiation on materially adverse terms of the agreement between Coinstar, Inc. and Safeway. The foregoing risks and uncertainties are illustrative, but by no means exhaustive. For more information on factors that may affect future performance, please review "Risk Factors" described in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. These forward-looking statements reflect Coinstar, Inc.'s expectations as of the date of this release. Coinstar, Inc. undertakes no obligation to update the information provided herein.

Media Contact:

Sarah Jones
Coinstar, Inc.
425-943-8121
Email Contact

MarketWire

Comment on this story

Share