FedEx is going to continue to ship within Canada, but its copy and office supply stores will all close gradually beginning in August.
"We reached the decision to exit the Canadian market after thoughtful evaluations of our business operations and considerations about our future," FedEx said in a statement, CBC added.
FedEx stock was lower early on Friday afternoon.
Editor's note: story has been updated to reflect that FedEx will not close all of its office supply stores on August 18.
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