FedEx shares fell more than 20% after the company reported a swift downturn in shipping volumes in recent weeks as macroeconomic trends worsened, prompting a round of belt tightening to preserve profits
after the company reported a swift downturn in shipping volumes in recent weeks as macroeconomic trends worsened, prompting a round of belt tightening to preserve profits.
The warning, issued late Thursday, presents a fresh challenge for FedEx’s new Chief Executive Officer Raj Subramaniam, from founder Fred Smith, and offers evidence that the global economy may be on shaky ground, some analysts said.
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