FedEx’s lower full-year forecast sinks its stock, as customers look to save on deliveries
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FedEx has got a lot going on…
And after FedEx last week said it would bump its prices 5.9% higher starting in January, Subramaniam on Thursday said more customers were opting for their cheaper services, and shifting away from its priority services.
The U.S. Postal Service, a big air-cargo customer, will also stop working with FedEx on Sept. 29. FedEx on Thursday said it expected a $500 million “headwind” from the ending of the contract between the two.
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