MEMPHIS, Tenn. (AP) - FedEx plans to stop using the Kinko's name
on its copy and office service stores and book an $891 million
charge for the quarter that ended Saturday.
The charge relates to a decision about the use of the Kinko's
name and a write-down of the value of its acquisition of the brand.
The charge, which works out to $2.22 a share, was not part of
FedEx's earnings forecast. The company reports its financial
results for the fiscal fourth quarter June 18.
FedEx Corp. will change the name of its FedEx Kinko's stores to
FedEx Office. The Memphis, Tenn., company says the new name
"better describes the wide range of services available ... and
takes full advantage of the FedEx brand."
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.