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FedEx warned that mounting fuel costs and a weak US economy, which crimped quarterly profit, may weigh on the package-delievery company’s results well into its next fiscal year.
The company’s outlook echoed that of arch-rival United Parcel Service, whose executives noted last week that domestic shipments began to ebb in late January.
“FedEx faces a challenging economic environment that includes persistently high oil prices, sluggish US growth and continued concerns in the credit markets,” Fred Smith, FedEx’s chief executive, said in a statement.
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