Leading delivery firm for overnight shipments.
942 South Shady Grove Rd.
Memphis, TN 38120
CEO: Fred Smith
Stock Symbol: FDX
FedEx is the world's leading delivery company for overnight packages. It also delivers packages via ground and freight deliveries. FedEx also helps companies with their logistics and supply chain management.
FedEx handles more than 9 million shipments daily to over 220 countries. It uses 647 airplanes at 375 airports worldwide and has more than 47,500 vehicles for express, ground, freight and expedited delivery service.
There are over 1,775 FedEx Office and Print Centers, formerly known as Kinko's.
FedEx has 41,503 drop box locations which includes 4,991 U.S. Postal Service locations.
In fiscal 2013, the company reported revenue of $44.3 billion, up from $42.7 billion the previous year, and net income of $1.56 billion. Average revenue per package was $22.52, up from $22.31 in 2012.
The company said 3,600 employees voluntarily left the company at the end of 2012 in a cost-cutting move.
FedEx Corp. announced it had permanently retired or will accelerate the retirement of 86 aircraft and 308 related engines as it continues to modernize its aircraft fleet and improve the global network of FedEx Express.
“FedEx Ground posted another strong year and FedEx Freight margins continued to improve,” said Frederick Smith, FedEx Corp. chairman, president and chief executive officer. “These positive developments did not fully offset tepid economic growth and customer preference for less costly international shipping services. FedEx Express results improved in the fourth quarter, and while near-term challenges remain, we are confident we are positioning FedEx for profitable, long-term growth.”
The company was started in 1971 as Federal Express by Fred Smith, a Yale classmate and fraternity brother of President George Bush. It officially began operations on April 17, 1973, with the launch of 14 small aircraft from Memphis International Airport. On that night, Federal Express delivered 186 packages to 25 U.S. cities from Rochester, NY, to Miami, FL.
Company headquarters were moved to Memphis, TN., a city selected for its geographical center to the original target market cities for small packages. In addition, the Memphis weather was excellent and rarely caused closures at Memphis International Airport. The airport was also willing to make the necessary improvements for the operation and had additional hangar space readily available.
It soon became the leader in delivery of high-priority goods for businesses and air cargo. The term FedEx became a verb for "sending things overnight" and the company took on this name in 1994.
In 2003, FedEx purchased Kinko's copying centers for $2.4 billion. In 2008, the Kinko's name was changed to FedEx Office.
Benefits at FedEx include:
- Prescription Drugs
- Wellness Programs
- Life Insurance, Accidental Death & Dismemberment& Survivor Income Benefit
- Disability / Income Protection
- Business Travel Accident Insurance
- Pension and 401(k) Savings Plan
- Employee Assistance & Referral Programs
- Dependent Care Reimbursement Account
- Credit Association
- Educational Assistance
- Paid Time Off
The company offers contractor positions for drivers in ground and home delivery business. These are independent contractor positions with no medical insurance provided.
Updated July 11, 2013