FedEx to take Q4 $900mln charge as recession bites

Discussion in 'The Latest FedEx Headlines' started by cheryl, Jun 4, 2009.

  1. cheryl

    cheryl I started this. Staff Member

    FedEx to take Q4 $900mln charge as recession bites - Reuters

    FedEx Corp said on Wednesday that it would record a fourth-quarter impairment charge of $900 million related to two acquisitions that have been hit by weak economic conditions.

    The majority of the charge is related to Kinko's, which FedEx bought in 2004 and has been seen as a disappointment by the package delivery giant.