FedEx Kinko's announced an aggressive expansion plan to open 300 new office and print centers in the U.S. throughout fiscal 2008. The company also will redesign 110 existing centers and introduce 20 new locations internationally.
This latest push for growth comes on the heels of the 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 sq. ft., but offer the same services as a traditional center. Based on the strong performance of the new design, 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,” said Ken May, president and CEO of FedEx Kinko's.
In addition to the new locations, FedEx Kinko's plans to convert 110 existing centers from a traditional format to a large-footprint retail model. These centers, which range from 6,000 to 10,000 sq. ft., will include enhanced areas for shipping, computer rental and Internet services.
The company also plans to embark on its most aggressive international expansion effort to date by opening 20 new centers outside the U.S. during fiscal 2008. These new centers will be focused in the Asia-Pacific region. Currently, the company has 159 locations outside the United States.
