Despite poor quarter, FedEx is bullish vis-à-vis Amazon
December 19, 2019
On Tuesday’s earnings call with investors, FedEx CFO Alan B. Graf Jr. had some “splaining” to do about its 2nd quarter earnings disappointment, which some attribute to tougher competition from Amazon’s quickly expanding delivery fleet. The carrier’s stock is down about 9 percent year-to-date. But Mr. Graf believes that the sizable investments FedEx has made in extending its services to a 7-day week plus other infrastructure improvements has put the company on the comeback trail. “If you think about all the positive things we’ve said and that we’re seeing, as we get into 2021, we will start lapping Amazon,” he said on the call.
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