FedEx closing facilities and parking planes in ominous warning

[citygator]

FedEx is worldwide so I don’t think it’s all US economic impact. Plus there are people getting out more vs shipping to homes, supply chain is better so less express freight needed, retailers and suppliers are over in inventory and people were catching up post Covid last year…. However…. It is likely also an indicator of the ripple effects of all that plus slowing demand from concerns on the economy and inflation.

Buckle up? Or will the economy grind forward through it ok?

FedEx closes offices, parks aircraft after poor quarterly earnings report


MEMPHIS, Tenn. (WMC) - After FedEx Corp. provided its preliminary first quarter financial results on Thursday, the company announced that it is initiating several cost-cutting initiatives to offset a declined volume of packages which dropped its quarterly revenue below expectations.

FedEx provided its quarterly results on Thursday which showed that results for 2023′s first quarter ending Aug. 31 were adversely impacted by global volume softness that accelerated in the final weeks of the quarter.

This led to a revenue shortfall of approximately $500 million for FedEx Express, and a shortfall of approximately $300 million for FedEx Ground relative to the company’s forecasts.

FedEx President and CEO Raj Subramaniam announced on Thursday that the company is taking action to reduce costs to offset the falling demand.

 

[Toddsterpatriot]

Bidenflation and rising interest rates.

 

[TroglocratsRdumb]

People suffer when the far-left extremists Democrats wreck the economy.

 

[Votto]

FedEx is worldwide so I don’t think it’s all US economic impact. Plus there are people getting out more vs shipping to homes, supply chain is better so less express freight needed, retailers and suppliers are over in inventory and people were catching up post Covid last year…. However…. It is likely also an indicator of the ripple effects of all that plus slowing demand from concerns on the economy and inflation.

Buckle up? Or will the economy grind forward through it ok?

FedEx closes offices, parks aircraft after poor quarterly earnings report


MEMPHIS, Tenn. (WMC) - After FedEx Corp. provided its preliminary first quarter financial results on Thursday, the company announced that it is initiating several cost-cutting initiatives to offset a declined volume of packages which dropped its quarterly revenue below expectations.

FedEx provided its quarterly results on Thursday which showed that results for 2023′s first quarter ending Aug. 31 were adversely impacted by global volume softness that accelerated in the final weeks of the quarter.

This led to a revenue shortfall of approximately $500 million for FedEx Express, and a shortfall of approximately $300 million for FedEx Ground relative to the company’s forecasts.

FedEx President and CEO Raj Subramaniam announced on Thursday that the company is taking action to reduce costs to offset the falling demand.

This is the result of world wide Leftism

World wide jihad on fossil fuels + world wide lock downs for Covid + world wide reduction of growing crops because of the jihad on fossil fuels = world wide economic melt down and reset.

Enters Joe Blow Leftist dictator to "fix" everything.

Every collectivist revolution rides in on a Trojan horse of 'emergency'. It was the tactic of Lenin, Hitler, and Mussolini. In the collectivist sweep over a dozen minor countries of Europe, it was the cry of men striving to get on horseback. And 'emergency' became the justification of the subsequent steps. This technique of creating emergency is the greatest achievement that demagoguery attains.
-Herbert Hoover

 

[TNHarley]

While people are probably ordering less because of severe inflation, FedEx freakin SUCKS. I know of 3 vendors for my company that quit using them.

 

[Oddball]

Wait a sec.....I thought the employment numbers told us that the economy is booming.

 

[Oddball]

While people are probably ordering less because of severe inflation, FedEx freakin SUCKS. I know of 3 vendors for my company that quit using them.

Haven't had an on-time delivery from those boobs in at least two years.....Worst "customer service" in the biz.

I'd rather take my parcels to *shudder* USPS.

 

[TNHarley]

I'd rather take my parcels to *shudder* USPS.

Thats really saying something! lolz

 

[Baron Von Murderpaws]

Haven't had an on-time delivery from those boobs in at least two years.....Worst "customer service" in the biz.

I'd rather take my parcels to *shudder* USPS.

In my area, its the opposite. You do NOT want USPS or UPS handling your packages.....because you will NEVER see them!!!
FedEx is the ONLY one around here that ACTUALLY delivers to your door!!

 

[Thunk]

WTF is happening behind the scenes?

The railroad strike (is that still on?)
FedEx

If passenger planes all start getting grounded I'm gonna be real concerned! Maybe an asteroid or solar flare is heading our way.

SOMETHING is going on.

 

[Harry Dresden]

Haven't had an on-time delivery from those boobs in at least two years.....Worst "customer service" in the biz.

I'd rather take my parcels to *shudder* USPS.

the PO delivers a hell of a lot of theirs and UPS parcels the so called last mile.....so you might send something with them but it may get delivered by the PO anyway....

 

[Harry Dresden]

In my area, its the opposite. You do NOT want USPS or UPS handling your packages.....because you will NEVER see them!!!
FedEx is the ONLY one around here that ACTUALLY delivers to your door!!

yea in sure thats factual......

 

[Disir]

FedEx is worldwide so I don’t think it’s all US economic impact. Plus there are people getting out more vs shipping to homes, supply chain is better so less express freight needed, retailers and suppliers are over in inventory and people were catching up post Covid last year…. However…. It is likely also an indicator of the ripple effects of all that plus slowing demand from concerns on the economy and inflation.

Buckle up? Or will the economy grind forward through it ok?

FedEx closes offices, parks aircraft after poor quarterly earnings report


MEMPHIS, Tenn. (WMC) - After FedEx Corp. provided its preliminary first quarter financial results on Thursday, the company announced that it is initiating several cost-cutting initiatives to offset a declined volume of packages which dropped its quarterly revenue below expectations.

FedEx provided its quarterly results on Thursday which showed that results for 2023′s first quarter ending Aug. 31 were adversely impacted by global volume softness that accelerated in the final weeks of the quarter.

This led to a revenue shortfall of approximately $500 million for FedEx Express, and a shortfall of approximately $300 million for FedEx Ground relative to the company’s forecasts.

FedEx President and CEO Raj Subramaniam announced on Thursday that the company is taking action to reduce costs to offset the falling demand.

There seems to be more competition with companies like DHL and I have seen them around quite a bit.

 

[B. Kidd]

Bidenflation and rising interest rates.

^^^^^^^^
What he said!!

 

[Oddball]

the PO delivers a hell of a lot of theirs and UPS parcels the so called last mile.....so you might send something with them but it may get delivered by the PO anyway....

I live in the boonies in the summer, and all my USPS parcels get delivered to my door....Almost always on time.

You don't know how much I hate admitting that the USPS is better than FedEx.

 

[Harry Dresden]

I live in the boonies in the summer, and all my USPS parcels get delivered to my door....Almost always on time.

You don't know how much I hate admitting that the USPS is better than FedEx.

when i was delivering mail wayne the UPS guy would stop me and ask me if this person lives at this address or if the place was vacant.....the fedx driver use to just deliver it no matter what and that included to vacant places,he didnt seem to care....i used to tell him you left a parcel at a vacant address....no thanks from him.....most regular mail carriers that have been on route for a few years know more about whats happening in that neighborhood than the people who lived there...

 

[Dekster]

WTF is happening behind the scenes?

The railroad strike (is that still on?)
FedEx

If passenger planes all start getting grounded I'm gonna be real concerned! Maybe an asteroid or solar flare is heading our way.

SOMETHING is going on.

Amazon's shipping is really cutting into them. That and a recession is looming.

 

[B. Kidd]

Amazon's shipping is really cutting into them. That and a recession is looming.

The CEO of FedEx knows a recession is looming.

 

[Dekster]

The CEO of FedEx knows a recession is looming.

Makes for a good cover story at least. The 23% drop in their stock value this week, however, would suggest investors aren't buying it.