Coinstar Receives Progressive Grocer Magazine Category Captain Award for Fifth Consecutive Year
Company's Category Management Program Selected for Distinguished Award
BELLEVUE, Wash., Nov. 16, 2010 /PRNewswire/ -- Coinstar, Inc. (Nasdaq: CSTR), today announced that Progressive Grocer magazine has awarded Coinstar, Inc., the Category Captain award for the perimeter/nonfood category. Coinstar's category management program has been recognized by Progressive Grocer for its evolution from 4th Wall® supplier to a leader in automated retail solutions.
"We're honored by this recognition as an industry leader in automated retail for the fifth year running," said Tim Hale, interim chief customer officer, Coinstar, Inc. "Coinstar's solutions help drive incremental store traffic, reduce labor, minimize shrinkage and maximize stores' front-end net profit."
Areas exist in retail stores that are underutilized and represent an untapped opportunity for retailers. Coinstar's category management program helps retailers increase post register ring and develop new destination businesses thereby maximizing profit, particularly at the front-end. When managed effectively, this area is estimated to generate five to ten times the industry average for net profitability per square foot.
Progressive Grocer is the leading trade publication for the food and beverage industry, and its annual award recognizes the best and most innovative companies in category management. The award is the highest mark of distinction presented by the leading supermarket trade publication. Several factors were reviewed during the judging process, including product innovation, consumer insights, dynamic category management tools, and demonstrated commitment to meeting retail customers' specific needs. Complete coverage on Coinstar and the Category Captain awards can be found in Progressive Grocer's November 2010 issue or online at www.progressivegrocer.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 28,500 DVD kiosks and 18,900 coin-counting kiosks in supermarkets, drug stores, mass merchants, financial institutions, convenience stores, and restaurants. For more information, visit www.coinstar.com.
SOURCE Coinstar, Inc.