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In October, Amazon was reported to be testing out its own delivery service – Amazon Seller Flex – in an attempt to reduce its reliance on third-party logistics companies, and increase the amount of third-party merchandise that would be eligible for free two-day delivery to Amazon Prime members.
PRP LLC, a Washington, D.C.-based real estate investment firm, has acquired the two-year-old FedEx Office headquarters building in Plano's Legacy West for an undisclosed sum. The four-story, 263,621-square-foot office building, which includes surface parking, at 7900 Legacy Drive at the northwest corner of Legacy and Headquarters drives was built by Dallas-based KDC for the retail company FedEx Office and Print Services Inc., a subsidiary of Memphis-based FedEx Corp. (FDX). FedEx Office decided to move from Galleria Towers in Dallas to the northern suburb with about 1,200 employees to give it a more efficient corporate footprint in North Texas.
The FedEx Packaging Lab, located on Progress Road just north of East Shelby Drive, is the fourth-generation packaging lab under Memphis-based FedEx Corp.’s FedEx Services division. “The late '80s is when Mr. Smith [founder, chairman and CEO of FedEx] got the original idea to develop a packaging lab to help customers particularly with lost and damaged shipments,” said Evan D. Edwards, senior packaging engineer for FedEx. To see inside the FedEx Packaging Lab, click the slideshow.
After Elon Musk's recent Tesla semi-truck unveil, the question now becomes — what companies will get onboard? Tesla, known for its high-end electric cars, has forayed into the trucking industry with a ...
A top FedEx exec will assume the role of chairman of the board for the Greater Memphis Chamber. Richard Smith, president and CEO of FedEx Trade Networks, was voted into the position by the chamber’s board ...
While Amazon (AMZN) has made two-day and even two-hour order fulfillment a reality, it still faces a problem with shipping, along with every other retailer: It doesn't control the "last mile" delivery to consumers, Loop Capital's Anthony Chukumba and Rick Paterson write. The issue is that Amazon has to rely on third parties when it comes to delivery and returns, and Chuckumba and Paterson write that FedEx and UPS (UPS) naturally want to take "their pound of flesh" from the process, in this case in the form of margin.
The Board of Directors of FedEx Corporation today declared a quarterly cash dividend of $0.50 per share on FedEx Corporation common stock. The dividend is payable January 2, 2018 to stockholders of record at the close of business on December 11, 2017.
Yes, Tesla's (TSLA) semi-truck is getting all the attention today, but lest anyone forget, the future of the company depends on the mass-market Model 3. My colleague Teresa Rivas dug into the possible beneficiaries of Tesla's truck--UPS (UPS), FedEx (FDX) and J.B. Hunt (JBHT), among them--but profitability will likely depend on the automaker selling lots and lots of Model 3s. Oppenheimer' Colin Rusch and team took a test drive and came away liking the car... We completed our Model 3 test drives along with a visit to the showroom.
Six Tennessee companies received perfect scores for LGBTQ equality, including two based in Memphis. For the 16th edition of its Corporate Equality Index (CEI), the Human Rights Campaign Foundation ranked ...
The United States Postal Service reported a 2017 net loss of $814 million Tuesday representing a $1.4 billion annual decline. Some may read this “bad to worse” trajectory as a negative for parcel peers, ...
On Tuesday, the United States Postal Service released its fourth-quarter and full-year results, and Bernstein's David Vernon and his team write that the situation appears "to be going from bad to worse," which supports their thesis on publicly traded delivery companies. Vernon writes that the USPS's results show that the cost of final mile delivery is increasing, which means that pricing for residential services should improve--a benefit the more productive networks of FedEx (FDX) and United Parcel Service (UPS). He reiterated an Outperform rating and $132 price target on UPS and a Market Perform rating and $212 price targeton FedEx. More detail from his note: The USPS reported a net controllable loss of $814M in the quarter, a deterioration of $1.4B from the result posted in 2016.
Cross-border e-commerce growth and the coming peak holiday season are materializing as key catalysts for shipping freight companies United Parcel Service, Inc. (NYSE: UPS ) and FedEx Corporation (NYSE: ...
Oil prices have jumped by about one-third since the summer on signs of stronger economic growth around the world and fear of instability in the Middle East.
Memphis-based FedEx Freight has officially unveiled a new Kentucky service center. “Lexington and the surrounding area are key locations in our network when it comes to serving the needs of our customers,” said Doak Slay, vice president of regional operations at FedEx Freight, in a release. The project was developed by Lexington-based Setzer Properties and replaced an existing FedEx Freight Lexington facility.
FedEx (FDX) and United Parcel Service (UPS) are trading higher today, in the wake of a bullish call from Goldman Sachs, which thinks there could be 50% upside in earnings for both companies in the coming years. Analyst Matt Reustle and his team write that the market is overlooking growing global trade, and the positive impact it will have on air freight and logistics companies, especially FedEx and UPS. While Reustle acknowledges that Amazon (AMZN) is a threat, and margins are a concern, he thinks investors are overly focused on these worries, and not realizing how great a factor the acceleration of international shipping will be.
Goldman initiates coverage on UPS and FedEx with buy ratings, citing strong international outlook and overblown worries about Amazon.
FedEx Corp. and the Christmas SPIRIT Foundation are again spreading holiday cheer to service members and their families with the Trees for Troops program, an initiative that delivers farm-grown Christmas trees to domestic and international U.S.
Research Desk Line-up: XPO Logistics Post Earnings Coverage LONDON, UK / ACCESSWIRE / November 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for ...
Months after President Donald Trump promised to implement stricter Cuba policies, Washington has delivered. According to the release — which was published on the U.S. Department of the Treasury’s website — changes to the policy were set to take effect today.
Governmental dignitaries and business leaders — including a FedEx exec — were featured speakers at the 2017 Asia Pacific Economic Cooperation (APEC) CEO Summit. David Cunningham, president and CEO of ...
FedEx is renewing part of its fleet of smaller cargo planes in a deal valued at $1.3 billion at list price, amid an improved outlook for the global airfreight market.
ATR, the world's largest maker of regional turboprop planes, on Wednesday announced an order from FedEx Express for at least 30 newly designed 72-600F freighter models, sealing its return to the lucrative U.S. market for the first time in over two decades. The aircraft will be the first to be delivered by the Franco-Italian planemaker in a brand-new freighter configuration rather than as passenger planes, a move that may also boost the recently lacklustre second-hand market for its turboprop fleet. ATR, a joint venture between Airbus (AIR.PA) and Italian company Leonardo (LDOF.MI), said the FedEx order comprised firm plans to buy 30 of the planes, with an option to buy another 20.
In a Q&A conversation with son Richard Smith — a CBHS alum and president and CEO of FedEx Trade Network — Fred Smith spoke on a number of topics, but started by explaining the inception of Memphis-based FedEx Corp. As the story goes, Fred Smith — who graduated from Yale University in 1966 — wrote a term paper that looked at how society was becoming more automated and the logistics difficulties that went along with that.
As part of an ongoing aircraft modernization, FedEx Express will purchase up to 50 new planes. FedEx Express — a subsidiary of Memphis-based FedEx Corp. — announced Wednesday, Nov. 8, it planned to purchase 30 ATR 72-600F aircraft with an option to buy up to 20 more of the same model. “The purchase of new, more advanced feeder aircraft like the ATR 72-600F is the next step in our very successful fleet modernization strategy , which has helped us greatly improve our fuel efficiency and fleet reliability in recent years,” said David L. Cunningham, president and CEO of FedEx Express, in a release.