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 first 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
Corrections & Amplifications
This item was corrected at 3:16 p.m. ET to show that FedEx Corp. warned last week that revenue in the first quarter fell below its expectations, not second-quarter revenue.
(END) Dow Jones Newswires
09-22-22 1521ET