Fed Ex adjusted profit per share down from 6.87 to 4.94 compared to same quarter last year. If my math is correct that’s about 28%. But the management team keeps telling me UPS is slow because we make too much money and our negotiations are hurting business. When in reality for the most part it’s about demand and the economy.
FedEx , which is slashing costs to protect profits as demand wanes, said on Tuesday that ongoing "demand challenges" prompted its plans to ground 29 more aircraft in the fiscal year that started on June 1.