FedEx shares drop 5% and Royal Mail joins FTSE 100 fallers list

FedEx shares drop 5% and Royal Mail joins FTSE 100 fallers list

In Wednesday’s after-hours US trading, FedEx shares dropped 5% to US$175.49 after the parcels group cut its profit targets for the current fiscal year citing troubles at its express delivery business and the impact of a European acquisition.

The New York-listed company downgraded its earnings per share guidance for the 2018/19 fiscal year to a range of US$12.65 to US$13.40, down from US$15.50 to US$16.60 previously.

FedEx’s management also announced a raft of further cost savings measures including reducing hiring and reducing discretionary spending due to slowing global trade.

On Wednesday Royal Mail Group PLC saw its shares top the FTSE 100 fallers list.

In mid-morning trading, Royal Mail shares – which will be evicted from the UK blue chip index for a second time from next Monday – were 3% lower at 278.20p.

Relevant Directory Listings

Listing image

Doddle

Doddle powers PUDO networks and intelligent returns management for some of the world’s most innovative carriers and posts. Our experience building our own successful PUDO network in the UK means we have unprecedented insight into the needs of consumers, carriers and retailers meaning we can […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

As a consumer, how did the number of online purchases you made and the value of these compare between the 2022 peak period vs 2021?

Thank you for voting
You have already voted on this poll!
Please select an option!



MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This