FedEx Kinko's has more than 1,700 locations in operation today, and this latest push for growth comes on the heels of the successful execution of its expansion plan in fiscal 2007. Last August, the company introduced a smaller store format and announced plans to open 200 centers nationwide with the new design. These centers have an average footprint of 1,800 square feet and carry more than 700 different office products. In addition, they offer the same services as a traditional center and have generated positive customer feedback since the launch. Based on the strong results, the 300 domestic locations scheduled to open in fiscal 2008 will feature the small-format design as well.
"With our strategic expansion efforts, we are opening the equivalent of one new FedEx Kinko's location every business day over the 2008 fiscal year," says Ken May, president and chief executive officer of FedEx Kinko's. "And with more centers around the world, we're making it easier than ever for customers to get the shipping, office and printing services they need in one stop."
International Growth
FedEx Kinko's also plans to embark on its most aggressive international expansion effort to date by opening 20 new centers outside the
"The tremendous economic growth of the Asia-Pacific region is fueling an increase in demand for our services," says
Redesign of Existing Centers
In addition to the new locations, FedEx Kinko's will begin the process of converting 110 existing centers from a traditional format to a large-footprint retail model first introduced in October 2005. These U.S.-based centers, which range from 6,000 to 10,000 square feet, will be redesigned to stock more than 2,500 different office supplies. Also, the locations will be reconfigured to have enhanced areas for shipping, computer rental and Internet services.
"At FedEx Kinko's, we're dedicated to growth and innovation," says Tom Leverton, executive vice president and chief development officer of FedEx Kinko's. "Customer needs are evolving at a rapid pace, and FedEx Kinko's is driven to build our network in response."
About FedEx Kinko's Office and Print Services
FedEx Kinko's Office and Print Services is the world's leading provider of document solutions and business services. The Dallas-based company has a global network of more than 1,700 digitally-connected locations in 11 countries. FedEx Kinko's offers access to copying and digital printing, professional finishing, document creation, Internet access, computer rentals, videoconferencing, signs and graphics, notary, direct mail, office products, Web-based printing, and the full range of FedEx day-definite ground shipping and time-definite global express shipping services. For more information, please visit www.fedexkinkos.com. Products, services and hours vary by location.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $35 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 280,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit www.fedex.com.
