CHICAGO (Reuters) – Package delivery company FedEx Corp reported lower-than-expected quarterly profit on Wednesday as U.S. domestic package and international export volumes rose, and reaffirmed its full-year profit outlook.
Both FedEx and main rival United Parcel Service Inc are in the final days of their holiday peak season, which has boomed over the past decade due to the rise of e-commerce. Last year both companies were hit by a last-minute surge in online orders and bad weather that left an estimated 2 million packages undelivered on Christmas Eve.
CHICAGO (Reuters) – The Teamsters withdrew a planned ballot
at a Pennsylvania facility of FedEx Corp’s trucking
unit, in a further blow to efforts to unionize workers at FedEx
“We believe in our drivers and appreciate all they do for
the company,” Mike Ducker, incoming president and chief
executive of FedEx Freight, said in a statement. “We are
pleased with the recent results and look forward to a bright
CHICAGO (Reuters) – U.S. chief executive officers are more pessimistic about their spending plans and the outlook for the economy, but are more bullish on their hiring prospects, according to a quarterly survey from the Business Roundtable released on Tuesday.
Of the 129 CEOs who responded to the survey, 36 percent said they expected to increase their capital spending in the next six months, down from 39 percent in the third quarter and an eight-point drop from 44 percent in the second quarter.
ATLANTA (Reuters) – Lower U.S. gasoline prices could boost consumer spending ahead of the holiday season, a critical period for the retail sector, a top executive at United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) said on Tuesday.
“The impact of low fuel prices right now is it puts more discretionary dollars in consumers’ pockets,” Chief Financial Officer Kurt Kuehn told Reuters at the company’s Atlanta headquarters.
ATLANTA (Reuters) – United Parcel Service Inc’s chief executive officer said on Monday the company’s closer collaboration with major retailers should bring a smooth holiday season, but he said UPS would charge customers more or even refuse packages if last-minute sales by a major customer threaten the company’s system.
“With the changes we’ve made, I feel very comfortable about peak (season) this year,” David Abney told Reuters in an interview at UPS headquarters in Atlanta.
CHICAGO (Reuters) – After years of failed efforts, the Teamsters union has won a toehold in the trucking units of FedEx and Con-way and is targeting more facilities at both, potentially threatening what analysts see as a core competitive advantage for the companies.
The push by the Teamsters comes as a shortage of experienced drivers in the trucking industry is prompting companies to hike pay and offer improved working conditions.
CHICAGO (Reuters) – Robust U.S. consumer and business demand plus strong growth in Asia drove a higher-than-expected quarterly profit at package delivery company United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) and its top executive said that after a challenging holiday period last year the firm is ready for the 2014 peak season.
UPS, the world’s largest shipping company, and its main rival, FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz), both considered U.S. economic bellwethers, are heading into their busiest season of the year as the U.S. holidays approach. Last year a last-minute surge in online consumer promotions caused many packages to remain undelivered on Christmas Eve.
CHICAGO, Oct 23 (Reuters) – Determined not to repeat a
holiday season that left millions of packages delivered too late
and customers seething, United Parcel Service Inc and
FedEx Corp are investing heavily in new infrastructure -
but the continued dynamic growth of e-commerce will test those
The world’s two largest shipping companies are building new
facilities, adding more temporary holiday workers and pushing
retailers to help them avoid a recurrence of a pre-Christmas
CHICAGO (Reuters) – The U.S. Department of Transportation has issued five “non-site-specific” special permits to companies for handling waste related to the Ebola virus that has killed one patient in the United States, triggering fear about the spread of the disease.
There has also been concern about waste related to Ebola, which causes fever, bleeding, vomiting and diarrhea and has killed nearly 4,900 people, most of them in West Africa. Two nurses who helped treat the U.S. patient in Dallas tested positive for the disease and underwent treatment.
CHICAGO, Oct 23 (Reuters) – The chief executive of No. 1
U.S. railroad Union Pacific Corp said on Thursday that he does
not think mergers of major railroads “make sense” because of the
regulatory hurdles they face and the service issues they create.
“The (service and regulatory challenges) add a whole layer
of concerns for me,” Jack Koraleski told analysts in a
conference call after the company reported a
higher-than-expected third-quarter profit and said it expected a
solid fourth quarter. “I’m really not a fan (of mergers), I
don’t think it’s a good solution.