The new stores will average 1,800 sf, a new, smaller format introduced last year. The locations carry an average of 700 office products.
Of the new stores, 20 will open in foreign countries, 19 of them in Asia and Australia and one in Canada. The company currently operates 159 units in 10 other countries. The 12 new stores it is opening in China will nearly double its presence in that country.
In addition to new openings, the company is renovating about 110 units from a traditional size to a larger format first rolled out in 2005. These locations average between 6,000 sf and 10,000 sf and carry more than 2,500 different products.
Shipping company FedEx Corp. acquired Kinko's 1,200-stores portfolio in 2004 for $2.4 billion. For the quarter ended June 20, the chain's revenue fell 2%, to $532 million, though operating income rose 28%, hitting $23 million.
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