Coinstar Inc. and Albertson's Announce Partnership; Self-Service Coin Counting Machines Installed In Boise, Houston, and New Orleans.
BOISE, Idaho--(BUSINESS WIRE)--April 6, 1999--Coinstar Inc. (Nasdaq:CSTR CSTR Centre for Speech Technology Research
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See: New York Stock Exchange :ABS) today announced the installation of 52 Coinstar(R) self-service coin counting machines in Albertson's Food and Drug Stores in Boise, Houston, and New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded under a new nationwide contract between the two companies.
Today's announcement marks the first time Coinstar machines will be widely available at Albertson's stores. To celebrate, Albertson's and Coinstar are holding a special media event near Albertson's corporate headquarters in Boise, Idaho “Boise” redirects here. For other uses, see Boise (disambiguation).
Boise is the capital and most populous city of the U.S. state of Idaho. It is the county seat of Ada County and the principal city of the Boise metropolitan area. this morning.
"We are thrilled to announce our new partnership with Coinstar," said Gary Spiers, vice-president of Albertson's Inc. "In a few short years, Coinstar has proven itself an innovative leader in the self-service coin counting industry. We think our customers will enjoy the convenience and time-savings of turning their change into cash or grocery purchases."
Since the machines introduction in 1992, Coinstar has helped millions of Americans turn more than $1 billion in change into useful cash. In all, Coinstar has processed more than 109,000 tons of coins for more than 43 million customers.
"Coinstar couldn't be happier about our new partnership with Albertson's, one of the most respected companies in the supermarket industry," said Jens Molbak, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Coinstar Inc. "We are extremely excited about the growth opportunities presented by this partnership. Today's announcement means we will be able to bring our service to new regions, as well as solidify our presence in existing markets."
Founded in 1939, by J.A. Albertson, Albertson's Inc. is one of the largest retail food and drug chains in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Currently, the company owns and operates 985 stores in 25 states. However, a previously announced merger agreement with American Stores American Stores was the name of a United States chain of supermarkets. It was formed in 1917 when Acme Markets merged with four other Philadelphia area grocery chains into American Stores. American Stores would grow to 1,700 stores in 40 states with $15 billion in sales. Company, parent company of Lucky, Acme (company, jargon) ACME - /ak'mee/ 1. A Company that Makes Everything. The canonical imaginary business. Possibly also derived from the word "acme" meaning "highest point".
2. A program for MS-DOS. , and Jewel, is expected to bring that number to 2,470 stores by years end. Combined, those stores will have estimated annual sales of $36 billion.
Coinstar Inc. develops, owns and operates a network of 5,200 self-service, coin counting machines. The machines, which provide consumers with a convenient means of converting loose change into cash, are located in leading supermarket chains in 38 states. Consumers can call 1-800-928-CASH, or visit http://www.coinstar.com for the location of the nearest Coinstar machine.
Photos can be downloaded from the Coinstar Website at: http://www.coinstar.com/news/photorel.html
This press release contains forward-looking statements forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Actual results could differ materially from the results identified or implied in any forward-looking statement discussed herein. Factors that could cause or contribute to such differences include, but are not limited to, the risks that are more fully described under the caption "Risk Factors" included in the most recent reports filed with the Securities and Exchange Commission by Coinstar Inc.