By Denny Jacob

 

FedEx Corp. said Thursday that it was increasing its rates as it operates in a more difficult environment.

The carrier said FedEx Express, FedEx Ground, and FedEx Home Delivery rates would increase by an average of 6.9%, effective Jan. 2. FedEx Freight rates would increase by an average of 6.9% to 7.9% depending on the customer's transportation-rate scale, the Memphis, Tenn.-based company said.

The change comes as FedEx previously warned that revenue in the second quarter fell below its expectations and it was ushering in a flurry of changes to offset declining volumes of packages. The company issued its first-quarter results on Thursday.

 

Write to Denny Jacob at denny.jacob@wsj.com

 

(END) Dow Jones Newswires

September 22, 2022 15:21 ET (19:21 GMT)

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