FedEx to Add Surcharge on Delivery Fees to Offset Rising Costs

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Invesing.com – FedEx tacked on gains in after-hours trade after the delivery giant said it would adding fees on some shipments to offset the jump in costs during the pandemic.

FedEx (NYSE:FDX) was up 0.5% in after-hours trade after ending the day up 2.9%.

From June 8, FedEx will add a surcharge of 30 cents per package for most-frequent shippers – those who send more than 40,000 packages a week with weekly shipping volume above 120% of their average volume in February –  The Wall Street Journal reported, citing a person familiar with the matter.

A $30 surcharge would also be added to all oversize deliveries, while all packages shipped using SmartPost would be subject to a final surcharge 40 cents, the reported added.

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