FedEx Ground Completes Expansion

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FedEx Ground, a subsidiary of FedEx Corp., announced yesterday the opening of 50 FedEx Home Delivery terminals, expanding coverage for its residential delivery service to virtually all households in the United States.

These newest terminals are in cities in Alabama, Alaska, Kentucky, New York, Texas, Virginia and 18 other states, raising the number to 297.

FedEx Ground, which launched in March 2000, was the first ground service for residential delivery to offer a money-back guarantee. FedEx said the number of shippers using the ground service tripled in the past year to more than 22,000.

For the fiscal 2002 fourth quarter, which ended May 31, FedEx Ground reported a 21 percent year-over-year increase in average daily package volume, one-third of which was attributed to FedEx Home Delivery. FedEx Ground reported annual revenue of $2.7 billion in fiscal-year 2002.

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