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Breaking News Regarding Fed Ex Express
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<blockquote data-quote="Box Ox" data-source="post: 3867196" data-attributes="member: 48469"><p>People need to keep in mind that this is primarily due to problems FedEx is having internationally, not domestically. It seems that TNT really hasn't worked out well for them. </p><p></p><p>For those who might be WSJ paywalled:</p><p></p><p>"The company has struggled since <a href="https://www.wsj.com/articles/fedex-takes-earnings-hit-following-cyberattack-1505857258?mod=article_inline" target="_blank">acquiring</a> European rival TNT Express for $4.8 billion in 2016. The business was paralyzed by a cyberattack in 2017 and has also struggled with integration and lower-than-expected package volumes.</p><p></p><p>FedEx said the TNT deal won’t improve profits by at least $1.2 billion next fiscal year as it had projected.</p><p></p><p>The buyouts and cost cuts come as FedEx is in the midst of its peak shipping period, the busiest stretch of the year between Thanksgiving and Christmas. FedEx Chairman and CEO Fred S said that despite slowdowns overseas, the U.S. economy remains strong."</p></blockquote><p></p>
[QUOTE="Box Ox, post: 3867196, member: 48469"] People need to keep in mind that this is primarily due to problems FedEx is having internationally, not domestically. It seems that TNT really hasn't worked out well for them. For those who might be WSJ paywalled: "The company has struggled since [URL='https://www.wsj.com/articles/fedex-takes-earnings-hit-following-cyberattack-1505857258?mod=article_inline']acquiring[/URL] European rival TNT Express for $4.8 billion in 2016. The business was paralyzed by a cyberattack in 2017 and has also struggled with integration and lower-than-expected package volumes. FedEx said the TNT deal won’t improve profits by at least $1.2 billion next fiscal year as it had projected. The buyouts and cost cuts come as FedEx is in the midst of its peak shipping period, the busiest stretch of the year between Thanksgiving and Christmas. FedEx Chairman and CEO Fred S said that despite slowdowns overseas, the U.S. economy remains strong." [/QUOTE]
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