Scalper1 News
Outerwall, the parent company of Redbox and Coinstar, sees future growth coming from consumers trading in used mobile devices and unused gift cards. The Bellevue, Wash.-based company detailed its latest ventures in automated retail at a financial analyst event on Thursday. Outerwall executives also pledged to fine-tune operations and boost profitability in their two main businesses: Redbox movie rental kiosks and Coinstar coin redemption kiosks. The Redbox and Coinstar businesses are maturing, and are only expected to see 4% to 7% annual revenue growth through 2015, Outerwall (OUTR) Chief Financial Officer Galen Smith said. But Outerwall has several new ventures that it hopes can fuel much faster growth, most notably ecoATM, which operates kiosks where people can trade in used smartphones and tablets for cash. Other new business ventures include Coinstar Exchange, kiosks where people can cash in unused retailer gift cards, and SampleIt, kiosks that sell $1 samples of … Scalper1 News
Scalper1 News