Home Must Reads FedEx cuts outlook

FedEx cuts outlook

| Print |  Email
Must Reads
Tuesday, September 18, 2012

FedEx says the global economy is worsening, and cut its forecast again.

"Exports and trade have gone down at a faster rate than [gross domestic product] has," Chief Executive Fred Smith said during a conference call with analysts after FedEx reported a slip in fiscal first-quarter profit. He sad new products launches from Apple Inc. and Microsoft Corp. wouldn't be enough to counter the broader economic weakness, especially as more cargo is carried by non-premium, slower shipping options.

FedEx has been moving to trim costs for much of the past year, but it made clear Tuesday that the benefits haven't come quick enough to offset the weak economy. FedEx lowered its full-year earnings view, now expecting between $6.20 and $6.60 a share, down from an already-disappointing forecast of $6.90 to $7.40 in June.

Read more at The Wall Street Journal.

{biztweet}fedex{/biztweet}

 

More Articles

Is this employee right?

Contributed Blogs
Wednesday, August 13, 2014
081314 thumb employeefeelingsBY TOM COX | OB BLOGGER

When I say, “Your Employee is Always Right,” I do not mean “right about the facts,” but rather “right about how they feel” and “right about how they want to be led.”


Read more...

Constant Contact

October 2014
Thursday, September 25, 2014
BY AMY MILSHTEIN

To prevent burnout, companies are banning email and after-hours communications. But is the 24-hour workday here to stay?


Read more...

Knight Vision

October 2014
Thursday, September 25, 2014
BY VIVIAN MCINERNY

Travis Knight wants to release a movie a year. Can he pull it off?


Read more...

Powerlist: Colleges and Universities

September 2014
Wednesday, August 27, 2014
BY KIM MOORE

A conversation about higher education with the presidents of the University of Oregon and Clackamas Community College, followed by September's powerlist.


Read more...

Green Endeavor cleans up

News
Wednesday, August 06, 2014
080614 ULnew greenendeavorBY LINDA BAKER | OB EDITOR

Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

Portland rises

News
Monday, August 18, 2014

IMG 2551Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS