FedEx Sets Out $1.7 Billion Savings-and-Profit Target - Bloomberg
FedEx Corp. (FDX) set a goal of boosting profit by $1.7 billion within three years, primarily through cost reductions, to reposition the company as customers shift to slower, cheaper deliveries from costlier overnight shipments.
The size of the target reflects FedEx’s view that the move of some customers to ground, freight and even ocean shipping is permanent and not a temporary change linked to a slowing economy. That transition also threatens to affect United Parcel Service Inc. (UPS) and Deutsche Post AG (DPW)’s DHL Worldwide Express.
