The company said that in addition to seven-day delivery it also was making changes to its last-mile delivery efficiency. Packages previously given to the U.S. Postal Service for delivery to homes increasingly will be integrated into the company's own FedEx Ground delivery service.
"We have made significant investments in capacity, technology and automation at FedEx Ground over the past 20 years. These investments have allowed us to gain ground market share for 19 of the last 20 years, and we are now ideally positioned to extend that growth as the average daily volume for small parcels in the U.S. is expected to double by 2026," said Raj Subramaniam, FedEx president and chief operating officer.
FedEx shares have taken a nose dive over the past four weeks after peaking above $198 in late April. The stock was down 0.53% to $158.73 in trading Thursday.