FedEx Corporation and OfficeMax have reached a multiyear agreement to offer domestic FedEx express and ground shipping services in more than 900 OfficeMax stores beginning this fall as the struggling office-supply retailer looks to boost traffic at its stores, Dow Jones reported.
OfficeMax, the number three office-supply retailer behind Staples and Office Depot, has seen sales drop along with consumer spending. As such, the company has suspended its quarterly dividend, eliminated jobs and delayed its store-remodeling program until economic conditions improve.
The companies said FedEx services were rolled out in certain Chicago and Memphis, Tenn, locations this month, and all US OfficeMax stores are expected to offer domestic FedEx shipping capabilities by the end of September.
Financial terms of the deal weren't disclosed. |
