SOURCE: Coinstar

May 02, 2011 09:00 ET

Coinstar and SUPERVALU Sign Agreement to Expand No Fee Coin Counting

Successful Pilot With SUPERVALU Gift Cards Leads to 1,000 Store Rollout

BELLEVUE, WA--(Marketwire - May 2, 2011) - Coinstar, Inc.(NASDAQ: CSTR) and SUPERVALU INC. (NYSE: SVU) today announced an agreement that will allow SUPERVALU customers to cash in their coins for free when they choose the SUPERVALU gift card option at the Coinstar® kiosk. The no fee option will be available in approximately 1,000 stores across the country including: ACME®, ALBERTSONS®, FARM FRESH®, HORNBACHER'S® , JEWEL-OSCO®, LUCKY®, SHAWS/STAR Market®, SHOP N'SAVE® and SHOPPERS®.

"We are very pleased with the results of the pilot program with Coinstar and look forward to a program expansion starting in June," said Mark Schumacher, SUPERVALU's director of financial services. "This agreement provides our customers the opportunity to receive the full value of their coins with no fees when they choose the gift card option."

SUPERVALU and Coinstar began their collaboration on the gift card project in January 2010 in approximately 78 Albertsons stores located in Washington and Oregon.

"We're delighted to be moving forward on this exciting new project with SUPERVALU and look forward to maximizing the potential increase in both trips and shopping basket size at SUPERVALU stores," said Mike Skinner, president of Coinstar's Coin business. "There's approximately $10 billion in coins across the U.S. waiting to be converted, and this gives consumers a compelling option for turning those coins into something of great value."

Coinstar's fee free coin counting service allows consumers to put the full value of their change onto a gift card or eCertificate from a variety of national retailers. Now, consumers can choose the SUPERVALU gift card option at the Coinstar kiosks located in SUPERVALU chains across the United States. For information regarding fee free coin counting and kiosk locations, visit www.coinstar.com.

About Coinstar, Inc.

Coinstar, Inc. (NASDAQ: CSTR) is a leading provider of automated retail solutions offering convenient services that make life easier for consumers and drive incremental traffic and revenue for retailers. The company's core automated retail businesses include the well-known redbox® self-service DVD rental and Coinstar® self-service coin-counting brands. The company has approximately 31,800 DVD kiosks and 18,800 coin-counting kiosks in supermarkets, drug stores, mass merchants, financial institutions, convenience stores, and restaurants. For more information, visit www.coinstarinc.com.

About SUPERVALU INC.

SUPERVALU INC. is one of the largest companies in the U.S. grocery channel with annual sales of approximately $38 billion. SUPERVALU serves customers across the United States through a network of approximately 4,294 stores composed of 1,114 traditional retail stores, including 805 in-store pharmacies; 1,280 hard-discount stores, of which 899 are operated by licensee owners; and 1,900 independent stores serviced primarily by the company's traditional food distribution business. SUPERVALU has approximately 140,000 employees. For more information about SUPERVALU visit www.supervalu.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 Supervalu 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 offering the gift card and the termination, non-renewal or renegotiation on materially adverse terms of the agreement between Coinstar, Inc. and Supervalu. 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 Annual Report on 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.

Contact Information

  • Contact Information:
    Sarah Jones
    Coinstar, Inc.
    425.943.8121
    Email Contact