Release Date: 13 August 2007
Release ID: 387
FedEx Kinko’s, an operating company of FedEx Corp. (NYSE: FDX), today officially announced an aggressive expansion plan to open 300 new office and print centers in the United States throughout fiscal 2008. The company also will redesign 110 existing centers and introduce 20 new locations internationally. These changes are part of the company’s overall plan to provide small businesses and traveling professionals with even greater access to the company’s office and print services and the FedEx transportation network.
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.”
FedEx Kinko’s also plans to embark on its most aggressive international expansion effort to date by opening 20 new centers outside the United States during fiscal 2008. These new centers will be focused in the Asia-Pacific region with 12 in China, four in Japan, two in Korea, and one in Australia. In addition, one new center will be opened in Canada. Currently, the company has 159 locations outside the United States.
“The tremendous economic growth of the Asia-Pacific region is fueling an increase in demand for our services,” says Joe Luongo, senior vice president of international at FedEx Kinko’s. “As a result, we are almost doubling our current presence in China and enhancing our strong presence in Japan.”
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.”
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