"FedEx has made the strategic decision to not renew the FedEx Express U.S. domestic contract with Amazon.com, Inc. as we focus on serving the broader e-commerce market," the courier service said in a statement.
The decision does not impact existing contracts between Amazon and other FedEx business units, nor international services, FedEx said.
Amazon is not FedEx’s largest customer, and the percentage of total FedEx revenue attributable to Amazon accounted for less than 1.3 percent of total FedEx revenue for the 12-month period ended Dec. 31, the company said.
FedEx may be dropping Amazon's domestic express contract, but the company says Amazon only was worth **1.3%** of its total revenue for 2018. https://t.co/MQwOsEjYwS
— Steve Kopack (@SteveKopack) June 7, 2019
FedEx shares were up 0.8 percent at $158.10 at the time of publication Friday, while Amazon shares were trading higher by 2.6 percent at $1,800.02.
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