Duane Reade, the leading drug store chain in metropolitan New York, and Coinstar, Inc. the leader in self-service coin counting, today announced the planned installations of more than 140 Coinstar Centers in the metropolitan New York City area this year.
With an estimated amount of more than $650 million in idle change in the greater New York City area, Duane Reade has installed Coinstar Centers in its drug stores to offer consumers a convenient way to turn their loose change into cash or a voucher that can be used towards in-store purchases. In addition, consumers can choose to place the full value of their change onto a gift card or eCertificate from a variety of retailers including Amazon.com, iTunes, Circuit City, Starbucks and more.
“We are pleased to offer our customers a convenient and immediate way to turn their change into cash,” said Chuck Newsom, senior vice president of store operations for Duane Reade. “By installing Coinstar Centers in Duane Reade stores, we are delivering on our promise to enhance the shopping experience by providing our customers with more convenient services.”
“We are thrilled to be working with Duane Reade,” said Alex Camara, senior vice president and general manager of worldwide coin at Coinstar, Inc. “This new relationship enables us to better serve consumers in the metropolitan New York area as Duane Reade has some of the most convenient retail locations for New Yorkers.”
Coinstar Centers were initially rolled out in Duane Reade stores in December 2006, and it’s expected that the remaining locations will be installed by mid-year 2007. Consumers may go to www.coinstar.com to locate their nearest Coinstar Center.
About Duane Reade, Inc.
Founded in 1960, Duane Reade is the largest drug store chain in the metropolitan New York City area, offering a wide variety of prescription and over-the-counter drugs, health and beauty care items, cosmetics, greeting cards, photo supplies and photofinishing. As of December 31, 2006, the Company operated 248 stores.
About Coinstar, Inc.
Coinstar, Inc. (NASDAQ:CSTR) is a multi-national company offering a range of 4th Wall 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 60,000 retail locations including supermarkets, drug stores, mass merchants, convenience stores, and financial institutions. For more information, visit www.coinstar.com.