DOW JONES NEWSWIRES
FedEx Corp.'s (FDX) express operation has expanded its
international economy shipping services to 90 countries as it looks
to expand its presence and capture sales from companies who have
cut back.
The company, often considered a bellwether for the U.S. economy
because of its massive shipping volume, has struggled during the
economic downturn as orders and sales slow across a range of
industries. In recent months, FedEx has cut jobs and reduced
capacity at its express and freight segments to deal with the
slowdown.
Michael Ducker, FedEx Express international president, said the
company understands customers need to keep costs down amid the
challenging economic environment, so the company is offering more
choices and greater coverage around the world.
The company said it now offers international economy service
from more than 90 countries, up from 16. It offers international
economy freight service from more than 50 countries, up from
13.
FedEx also recently said it would expand its global
freight-forwarding presence in Asia, Europe, the Middle East,
Africa and Latin America as it looks to offer full-service
transportation everywhere in the world.
FedEx's shares closed Friday at $67.86 and haven't traded
premarket.
-By Kerry Grace Benn, Dow Jones Newswires; 212-416-2353;
kerry.benn@dowjones.com