Bellevue, WA–(HISPANIC PR WIRE – BUSINESS WIRE)–November 29, 2007–Coinstar, Inc. (Nasdaq:CSTR) today announced JCPenney as the latest addition to the Coinstar Coin to Card(TM) program. Beginning this month, consumers pay no coin-counting fee to convert their loose change to a JCPenney eCertificate at more than 8,600 Coinstar(R) Centers located in supermarkets and other retail locations across the United States.
Consumers can use the JCPenney eCertificate towards purchases at the more than 1,000 JCPenney department stores in the United States, online at jcp.com or via catalog.
“We’re delighted to offer consumers the ability to use their spare change to purchase merchandise from JCPenney, the first department store in the Coin to Card program, just in time for the holidays,” said Alex Camara, senior vice president and general manager of worldwide coin at Coinstar, Inc. “There’s about $90 in forgotten change sitting in the average American household, money that can now easily be used to supplement holiday budgets.”
According to the most recent Coinstar National Currency Poll (November 2007), of those Americans who say they stretch their budgets during the holiday season, more than 25% cash in their coin jars for extra spending money. Spending power from those coin jars could purchase the following gifts from JCPenney (actual value may vary based on container and coin mix):
12 oz. jar ($20) – Dockers(R) Valet Tray
16 oz. jar ($30) – Car Kit for iPod(R)
32 oz. jar ($60) – SPI Video/MP3 Player
Average family stash ($90) – Harmony(R) 36-inch Acoustic Guitar
1 Gallon ($225) – Casio(R) Men’s Pathfinder Watch
“We’re pleased to work with Coinstar to provide consumers with the ability turn their coins into a perfect gift for a loved one or a treat for themselves from JCPenney,” said Bob Baublits, senior vice president and director of revenue services at JCPenney. “A JCPenney eCertificate makes a great gift all by itself, plus it’s an easy way to purchase from our excellent assortment of smartly priced gift items through our three integrated shopping channels.”
To receive free coin counting, consumers simply deposit their coins into the Coinstar Center — and at many locations bills are accepted — the coin is then counted, and the full value is applied to the selected gift card or eCertificate. The gift card or eCertificate is dispensed directly from the machine and can be used right away to purchase merchandise from the selected retailer.
Introduced in 2005, the Coinstar Coin to Card program has more than 15 national and regional retailers offering gift cards and/or eCertificates including Amazon.com, iTunes, Starbucks, Circuit City and now JCPenney. To locate Coinstar Centers offering this free coin counting program consumers can access a machine locator at http://www.coinstar.com.
About Coinstar, Inc.
Coinstar, Inc. (Nasdaq:CSTR), is a multi-national company offering a range of 4th Wall(TM) solutions for the retailers’ front of store consisting of self-service coin counting, electronic payment solutions, money transfer, entertainment services and self-service DVD rental. The company’s products and services can be found at more than 56,000 retail locations including supermarkets, drug stores, mass merchants, convenience stores, and financial institutions. For more information, visit http://www.coinstar.com.
About JCPenney
JCPenney is one of America’s leading retailers, operating 1,067 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation’s largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands which reflect the Company’s commitment to providing customers with style and quality at a smart price. Traded as “JCP” on the New York Stock Exchange, the Company posted revenue of $19.9 billion in 2006 and is executing its strategic plan to be the growth leader in the retail industry. Key to this strategy is JCPenney’s “Every Day Matters” brand positioning, intended to generate deeper, more emotionally driven relationships with customers by fully engaging the Company’s 155,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney.
