Shares of FedEx\n \n plunged 22% in early trading after the open Friday after it warned late Thursday that a slowing economy will cause it to fall $500 million short of its revenue target. The weakening global economy, particularly in Asia and Europe has hurt FedEx\n \n ’s express delivery business. The company said demand for packages weakened considerably in the final weeks of the quarter.
FedEx\n \n said its adjusted earnings for the quarter that ended August 31 will be down $260 million, or 17%, from a year earlier. Revenue rose $1.2 billion, or 5%, despite missing the company’s earlier target. While it gave the sharply lowered guidance for the current quarter, FedEx said it was withdrawing its full-year guidance issued in June due to the “continued volatile operating environment.
Or maybe because FedEx sucks
Reason wef 17 SDG goals, first great-reset and unemployment ±40%🤬🤬
maybe because people are out shopping in person again?!?! I would be more worried if fedex didn’t go down!
22 years old iranian woman is brutally killed by morality police, to be in need of remedy. مهسا امینی امیرحسین خادمی مهسا_امینی امیرحسینخادمی لیلا_میرغفاری MahsaAmini amirhossein_khademi UN CNN
Demand for packages is tumbling?!? Mate you have a massive competitor called Amazon which now uses its fleet of aircrafts and delivery vehicles.
FedEx shares plunged 21 percent on Friday, the biggest daily drop ever, after warning it would fall short of its $500 million sales target due to the recession. Especially influenced by Asia and Europe, how does this affect the world economy? LuiggiDonayre econ_ta ECONumd
if the gov loses a trill or 2 yr ; go figure
Just maybe it might have to do with the video of Two FedEx truck drivers beating and kicking a fellow black FedEx truck drivers ass.They Have become a shell of their former self by hiring thugs to deliver packages.
The CEO needs to look in the mirror and realize the issue is their subpar service.. I’m still waiting for Christmas presents from 2019 from my Aunt Edna in Tulsa.
Blame a global recession for Amazon & UPS kicking your ass The market will be back up next week when they figure out FedEx is just mismanaged
81 million people who gave USA 46 caused this!
Or maybe people are back to buying stuff in stores..
JoeBiden Joey ?
Wait so they decide not to deliver Amazon packages and now are shocked there volume is down?
Maybe companies are starting to listen to customers. Fed Ex sucks. Maybe they are just failing. If they get your package to the right neighborhood they think they are successful. Customer service is laughable. You have hunt your own package and have been told to do so.
Will be interested to know if anyone observes insiders buying on this dip. Whether it was orchestrated.
People are not using FedEx because they suck as a carrier. I know from first-hand experience.
CEO need to shut up , lot company are still making good money ,
My package better not be late
Hmm will packages be cheaper to send then? 🤣😂
It’s because the prices to ship are to high.
That's odd. They are constructing a huge 250,000 sq ft distribution center right here in Mercer Co. Pa. Hope they have some boxes to distribute! Lol! ; )~
have they tried not losing people's packages
Amazon is taking their business. They have their own drivers to deliver now.
I never want a business to fail but I will always cheer for the demise of FedEx after what they did to my co-workers and me. They came into our location and said that they were going to relocate the office staff to Memphis and lay off my department.
I'm not buying Fedex's economic prediction just because their sales are down. During lockdowns, they had trouble keeping up and the home delivery market expanded to more providers with sellers like Amazon doing their own deliveries. This diluted the market share. Remember ABX?
CNN=FAKE NEWS!
It might also be that FedEx service has degraded Vs UPS and the postal service. I have had two packages completely lost by FedEx in the last 6 months and never had that happen with UPS. Answer by FedEx - we have no idea where they went but we can’t find them. Service matters
FedEx has the worst service out there. Maybe they should take the time to figure out why they are so incompetent and fix it.
Or, here me out, the pandemic's full impact is over? No MBA here, so I'm just guessing.
Did anyone stop for 5 seconds to consider that people are just buying items in person instead of shipping them now that they aren’t under lockdown at home? 🤦♂️People are freaking out over literally nothing.
Instead fixing their own delivery and service problem and fire the CEO, this dude just blame it on everyone else. Brilliant.
Or Amazon opening up their warehouses and using their own planes all across the country has had an economic impact on the competition. But yeah, world recession… All that stuff.
It’s probably because FedEx keeps losing packages, so people use more reliable carriers instead
The Iranian regime killed mahsa_mini because of the way she was dressed.. The difference between the Iranian regime and ISIS is that the Iranian regime is a member of the United Nations and ISIS is not!
I'm making more money than I ever have, and so is everyone I know. The roads are packed with more people than ever before, and my business is booming beyond expectations. What's all this recession talk about? I don't know a single person who is worse off now than 1 yr ago
No, it's bc FedEx just fucking sucks.
used to work in their engine program with GE aerospace, and the cost of grounding one cargo plane is over $1M/day. keep in mind this is basically rush hour for global supply chain. this is more than a recession.
That’s what happens when you pick a political side.
So much for 'personal responsibility'
Maybe it's because they suck... they've lost or mis-delivered at least 14 of 27 packages at my primary address this year. It's now that if I get a FedEx tracking number I just immediately call to return to sender. I pay extra to buy from places that don't ship fedex.
FedEx said the demand for packages weakened considerably in the final weeks of this quarter, and will continue to get worse. That means FedEx has an excess supply of packages because the demand has decreased. How will FedEx get their supply and demand back to equilibrium.econ_ta
FedEx part of why this is happening is because your company has become the worst shipping company available. Everywhere I order and they use FedEx, there’s some sort of issue with either timing, quality of the package when it arrives, or both.
FEDEX service sucks and they treat their employees as completely expendable.
Do better CNN
No Prime offers free shipping🤷🏻♂️
Maybe it's because every package they deliver is damaged
I would argue that FedEx has seen a drastic drop in demand due to their extremely poor service. For example, I specifically avoid shopping online with companies (i.e. Sam's, Walmart) that I know use FedEx. USPS and UPS have much better service and are more reliable.
Maybe it's because Fedex can't deliver packages to the address on the label.
FedEx is cutting their workforce right before the holiday season kicks off because they want to rehire people at a lower rate. They should be keeping staff given the holiday season will force them to staff up. That part alone is fishy and shows poor management is at play.
I live in an apartment building, the delivery guy just drops off the packages in the lobby which is not a secure location, he won't come upstairs to my door. Despite numerous complaints nothings changed. Really horrible service.
Nope- People HATE FedEx. FedEx Breaks packages all the time or just loses them UPS is infinitely better.
That is impossible… CNNs panel of economic wizards, along with the President say everything is OK… just a little bump or blip… AND it’s Trumps fault..
I like how everybody replying to this has no supply chain experience, and instead is formulating a reply based on their own bubbled reality.
its called a recession… lots of industries are feeling the direct results of Biden-O-nomics … he said he knows better than Jeff Bezos , all continued spending of americans tax money dose is created more inflation and now people can’t make ends meet and will stop spending
“Revenue rose $1.2 billion, or 5%, despite missing the company’s earlier target.” Maybe it has nothing to do with the economy?
Another ceo who doesn’t understand the pandemic. FedEx traffic is no economic indicator. It’s what killed Netflix and peloton. Sheesh. Get a clue. People are out shopping.
OMG, who is lying to FedEx? Poor things think it’s because shipping is down. Somebody tell Fred it’s because their delivery sucks. I absolutely HATE when I see FedEx is who is shipping what I ordered. FedExHelp
Nah, it’s just that FedEx sucks.
has nothing to do with the economy ! u guys suck at ur job! every time i used u the packages get loss!! so go figure !u only job is to deliver and u can’t do that !
FedEx delivery service is just plain bad. As is CNN, having become Faux News 2.
FedEx charges why too much, should be investigated like UPS was
No, FedEx's problems are due to their awful service and nothing more.
Could it be that consumers are back in the retail outlets after COVID issues decline and are less likely to order online and have delivered?
It’s almost like the Fed raising rates is just sending this country into a recession. Versus, u know letting the economy figure it out. Once prices are too high, people won’t buy them…and inflation corrects it self. Instead we have the Fed cratering the economy
FedEx is mismanaged since COVID started. They have tanked as far as on time delivery, customer service and damaged or lost products. They should look internally first.
sherylkahn down from pandemic induced highs doesn't portend recession, it means a shift in buying patterns, at worst. If FedEx expected their profits to match those artificial levels of online sales indefinitely, it's self-inflicted harm.
My company tried FedEx more than once, we always went back to UPS.
No, it’s because FedExHelp sucks! I never order anything if it’s being delivered fed ex
Re resale of COVID-related on-line shopping share. Well documented phenomenon.
Like it or not. America affects the world.
We’re not in a recession! Learn the definition!
In the past year or so, every time I’ve ordered something online and they sent it via FedEx, the shipment has been delayed, with no visibility on revised date. No wonder their demand is tumbling.
It's funny that we are in the middle of a recession and debating if we can avoid a recession.
The slowdown is caused by COVID LOCKDOWN BEING OVER, ya lying fearmongers. Also, GTF off my TL, CNN, with your 💩.
Maybe more people are going out to buy stuff rather than having it shipped.
Maybe it's coz FedEx are shitty at courier services especially in Kenya 😂
Or maybe just maybe people aren't ordering everything because there's no longer a world wide pandemic.
…or is it because FEDEX SUCKS and everyone is realizing it and choosing other carriers now? 🙄
Stolen elections have consequences in Biden's America, this is bound to happen..
It might surprise many at how many corporations are using creative financing on their companies to show stockholders a story that isn't true. And the stockholders are figuring it out. Payday is coming.
FedEx service where I live (DC suburbs) is horrendous--packages are late and/or lost more than on time, no exaggeration. Any smart shipper has moved to another carrier or will shortly. Blame the economy all you want, bucko, but this is all you.
Or more people are using UPS cause Fedex sucks, and they are still involved in the shipment of sharkfin.
Let's see what UPS says for confirmation
Global inflation, recession has long started
The demand tumbled because the Covid lockdowns are over
FedEx This is not true. How about you stop being lazy and get my package delivered?
WazMixPix
Hello Recession
Or Amazon Flex drivers are putting you out of business
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: NBCDFW - 🏆 288. / 63 Read more »
Source: FoxBusiness - 🏆 458. / 53 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: njdotcom - 🏆 282. / 63 Read more »