Walmart Inc. WMT, +0.01% said Monday that it has partnered with FedEx Corp. FDX, -1.32% on a new returns process for the holiday season and beyond. Carrier Pickup by FedEx allows customers to start a return online or in the Walmart app, which can then be picked up from a customer’s home at a scheduled time.
Customers can also complete the return at a FedEx Office location. The program applies to items purchased and shipped by Walmart’s e-commerce site. Walmart will also now allow customers to start a return online and complete it in a Walmart store, whether the item was purchased online, at a bricks-and-mortar location or from a third-party seller. Refunds will now be credited same-day if the return is completed in store and as soon as next day for those processed elsewhere. Walmart stock has rallied 20.7% over the last year while the Dow Jones Industrial Average DJIA, +0.12% is up 4.8% for the period.