FedEx Office, a business unit of FedEx Corp., said March 20 it has entered into an agreement with Walmart Inc. to open FedEx shops inside a select number of the retailer's stores nationwide within the next two years.

Under the tie-up, 500 new FedEx Office locations will be placed inside select Walmart stores. The initiative follows the success of a pilot program that featured 47 FedEx Office stores placed in Walmart sites across six states.

The Walmart-based FedEx Office outlets offer packing, shipping and printing services, the companies said. The stores can also hold packages for customers for up to five business days.