Safeway CEO Steven A. Burd commented on Blackhawk Networks: ”To give you a brief update on Blackhawk, the value of total card sales—this is what we offer in terms of face value of the card—increased 24% for quarter two and that leaves us at 25% for the first half of this year.

The sales of closed loop partner cards are an interesting one to follow because essentially those cards represent the gift cards of a lot of retailers who are going through the same kind of economic events that we are. The sales of the closed loop partner cards increased 22.4% in the quarter and are growing at a rate that is much faster than our partners’ own card sales.


Year-to-date we are on plan for Blackhawk, both in terms of face value card sales and earnings.”




Coinstar Revenues Q2 2009

Source: Coinstar investor presentation.

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