Outerwall Releases 2012 Corporate Social Responsibility Report
Annual Update Highlights Company's Commitments to Employees, Community and Environment
BELLEVUE, Wash., July 30, 2013 /PRNewswire/ -- Outerwall Inc. (Nasdaq: OUTR), formerly Coinstar Inc., a leader in automated retail, today released its second annual corporate social responsibility (CSR) report, which outlines its 2012 efforts to cultivate an exceptional workplace, support local communities and manage environmental impacts. The report is now available online at outerwall.com/responsibility.
Outerwall's 2012 report is the product of a vision born in 2010, when the company established a dedicated CSR office to prioritize its social and environmental efforts. Outerwall developed an aggressive plan to benchmark performance, set targets and track progress, which led to the release of its first CSR report last year. Since that time the company has implemented initiatives to further integrate CSR into all areas of its business.
"At Outerwall our approach to corporate responsibility stems from our inventive and inclusive culture," said J. Scott Di Valerio, chief executive officer at Outerwall. "We view the company as part of an interdependent ecosystem, which includes our employees, business partners, customers and communities. As we gain a better understanding of how our actions impact others, we're striving for continuous improvement and exploring new ways to create shared value."
In 2010, Outerwall set a goal to reduce its greenhouse gas emissions intensity by 5 percent by 2012 and by 15 percent by 2015. Over the past three years, the company has primarily focused on transportation used to service its kiosks, which accounts for nearly two-thirds of its overall carbon footprint. In 2012, Outerwall's Coinstar business continued to expand its use of hybrid vehicles, which now represent 64 percent of its passenger fleet. Additionally, the company's Redbox logistics team gained efficiencies through route optimization, which resulted in a 36 percent reduction in miles driven per kiosk. Coupled with other efforts, these initiatives enabled Outerwall to achieve a 20 percent emissions reduction last year, exceeding its 2015 goal ahead of schedule.
Outerwall also elevated its commitment to local communities in 2012, increasing corporate charitable giving and employee participation in volunteer opportunities. Last year the company contributed more than $1.2 million in cash and in-kind donations to nonprofit organizations and educational institutions, doubling its 2011 contribution. In 2012, Outerwall also succeeded in mobilizing 28 percent of employees to participate in company-sponsored volunteer events – an increase from 3 percent in 2010. Beginning this year, Outerwall will expand its annual charitable contribution by donating 1 percent of the previous year's after-tax profits to charitable causes.
Moving forward, Outerwall will remain committed to closely managing its environmental impact, taking an active role in helping to strengthen local communities, and providing employees with the support they need to thrive. While the company didn't reach its 2012 target to reduce average kiosk energy use by 5 percent against a 2010 baseline, it will continue to prioritize the development of energy efficient solutions for its kiosks. Outerwall will also strive for increased employee involvement in community causes, aiming to engage one-third of its workforce in company-sponsored volunteer events by 2015.
"As proud as we are of the progress we've made in a short period of time, we're mindful that our journey has only just begun," said Nicole Trimble, senior director of corporate responsibility. "With our priorities defined and a solid foundation in place, we look forward to collaborating with stakeholders across our value chain and further leveraging our small footprint business model to drive positive change."
About Outerwall Inc.
Outerwall Inc. (Nasdaq: OUTR) has more than 20 years of experience creating some of the most profitable spaces for its retail partners. The company mission is to create a better everyday by delivering breakthrough kiosk experiences that delight consumers and generate revenue for retailers. As the company that brought consumers Redbox® entertainment, Coinstar® money services, Rubi™ coffee, and ecoATM® electronics recycling kiosks, Outerwall is leading the next generation of automated retail and paving the way for inventive, scalable businesses. Outerwall TM kiosks are in neighborhood grocery stores, drug stores, mass merchants, malls, and other retail locations in the United States, Canada, Puerto Rico, the United Kingdom, and Ireland. Learn more at www.outerwall.com.
Safe Harbor for Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "will," "expect," "intend," "anticipate" and variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. The forward-looking statements in this release include statements regarding Outerwall's corporate social responsibility initiatives. Forward-looking statements are not guarantees of future actions, results, performance or events, which may vary materially from those expressed or implied in such statements. Differences may result from actions taken by Outerwall or its management, as well as from risks and uncertainties beyond its control. Such risks and uncertainties include, but are not limited to, changes in Outerwall's strategic and financial objectives, and the ability to attract new retailers, penetrate new markets and distribution channels and react to changing consumer demands. The foregoing list of risks and uncertainties is illustrative but by no means exhaustive. For more information on factors that may affect Outerwall, please review "Risk Factors" and other disclosures described in Outerwall's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, as well as other public filings with the Securities and Exchange Commission. These forward-looking statements reflect Outerwall's expectations as of the date of this release. Outerwall undertakes no obligation to update the information provided herein.
SOURCE Outerwall Inc.