Coinstar Inc. Announces Midwest Expansion WithAddition of Machines in Missouri and Michigan
December 3, 1998 11:00 AM
BELLEVUE, Wash.--(BUSINESS WIRE)--Dec. 3, 1998--Coinstar Inc. CSTR today announced its expansion
into two new Midwestern markets. The company has just completed the installation of 64 new coin counting
machines at Schnucks supermarkets in St. Louis, Missouri. An additional 26 machines were also installed in Kessel
and Kroger stores in Flint, Michigan. "We are excited about offering consumers in the Midwest an easy way to turn
their coins into cash," said Jens Molbak, CEO of Coinstar Inc. "We are partnering with market leaders in St. Louis
and Flint who understand the spending power of their customers' coins." Founded in 1939, Schnucks Markets, Inc.
is a family-owned regional supermarket company with about 90 stores in Missouri, Illinois, and Indiana. Long
known as "The Friendliest Stores In Town," Schnucks takes great pride in offering its customers the very best in
service, selection, convenience and value. "We are providing Coinstar(R) machines at Schnucks as a way to offer
our customers another valuable service when they come to do their shopping," said Craig D. Schnuck, Chairman
and Chief Executive Officer of Schnucks Markets, Inc. "Our preliminary research with customers has been very
positive." Since first introducing the machines in 1992, Coinstar, Inc. has processed more than 70,000 tons of coin
and has conducted more than 35 million customer transactions at its more than 4,600 locations. Coinstar Inc.
develops, owns and operates a network of automated, self-service coin counting and processing machines that
provide consumers with a convenient means of converting loose coins into cash. More than 4,600 Coinstar
machines are installed in 35 states throughout the U.S. Consumers can call 1-800-928-CASH or visit
coinstar.com for the location of the nearest Coinstar machine. Photos can be downloaded from the
Coinstar website at: coinstar.com. This press release contains forward-looking
statements 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.
Top |
