FedEx Boosts E-Commerce Portfolio With FedEx Extra Hours

FedEx Corporation (NYSE:FDX) is leaving no stone unturned to meet the surge in demand during the holiday season. To this end, the company recently launched FedEx Extra Hours with some of its customers across several markets in the United States.

FedEx Extra Hours is a service aimed at boosting the company’s e-commerce delivery chain by allowing e-commerce orders to be fulfilled in the evening as well as receive late pickups by FedEx Express. Under this new option, shoppers can enjoy local delivery just the next day while deliveries in any other place within the United States can be done in only two days. Additionally, retailers get the benefit of extending cut-off time by 5-8 hours during the evening. In some cases, it might even stretch until the midnight contingent on the current order fulfillment process.

With majority of online shopping orders usually placed during the evening and demand for those to be shipped the next day, this latest move by FedEx is certainly a big boon to both retailers as well as the shoppers. The company has been benefiting immensely from the e-commerce boom and this expansion initiative will further bolster its growth process.

FedEx Corporation Price

FedEx Corporation Price | FedEx Corporation Quote

FedEx has been making continued efforts to enhance the online shopping experience. FedEx OnSite is a network of more than 12,000 alternate delivery locations across the United States. Shoppers have the ease of getting packages delivered to any of these locations and pick the same within five business days.

The company is collaborating with Walmart (NYSE:WMT) to roll out approximately 500 in-store pick up and drop off locations over the next two years.

Zacks Rank & Key Picks

FedEx carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader Transportation sector are Spirit Airlines (NYSE:SAVE) and Air France-KLM (OTC:AFLYY) , both flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Spirit and Air France-KLM have rallied more than 50% and 15%, respectively, in the past six months.

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