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FedEx withdrew its full year earnings guidance as macro trends 'significantly worsened,' sending share tumbling in extended trading. FedEx issues ominous warning about the global economy, shares ...
FedEx Express is a major American cargo airline based in Memphis, Tennessee, United States.As of 2023, it is the world's largest cargo airline in terms of fleet size and freight tons flown. [2]
FedEx Ground Economy (formerly FedEx SmartPost): Consolidates parcels from merchants such as e-commerce and catalog companies, transports them in bulk between its hubs, and uses FedEx Ground or Home Delivery for final mile delivery. Formerly Parcel Direct, a subsidiary of catalog publisher Quad Graphics, acquired by FedEx in 2004. [24]
FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.
FedEx Ground is the division's core package delivery service which delivers daily to all 50 US states with delivery timeframes of 1-5 days for the Contiguous United States and 3-7 days for Alaska and Hawaii. Its FedEx International Ground service ships packages between the United States and Canada and within Canada. [13]
The shortfall in FedEx Ground, the unit that is tied closely to e-commerce deliveries in the U.S., has read-through implications for the U.S. consumer and operators in the digital economy.
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