Tag: International

FedEx Delivers for Mother's Day

Posted by | May 9, 2008 | |

With Mother’s day just days away, FedEx has ramped up operations to support one of its busiest times of the year. Millions of flowers and gifts will pass through its hubs as FedEx is ready to brighten the day for mothers across the nation and around the world.

FedEx Express expects to see the largest delivery volume of flowers, plants and gifts for moms on Friday, May 9. On May 9, FedEx Express couriers will make 20 times more domestic flower deliveries than on an average day. Hundreds of thousands of flower deliveries have traveled through major FedEx hubs and gateways in Memphis, Miami, Indianapolis and Oakland between Tuesday, May 6 and Friday, May 9 on their way to be delivered in time for Mother’s Day.

FedEx Ground expects to see the largest delivery volumne of flowers, plans and Mother’s Day gifts on Saturday, May 10. FedEx Ground and Home Delivery will deliver more than 150,000 bouquets of flowers on May 10 alone.

For those procrastinators, FedEx will be making deliveries through Saturday, May 10 in time for Mother’s Day. Many e-commerce flower and gift retailers have located warehouses close to the FedEx Express Super Hub in Memphis, TN, allowing them to take last-minute orders up until Friday, May 9 and still have them delivered before Mother’s Day.

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FedEx Corp. Revises earnings guidance

Posted by | May 9, 2008 | |

FedEx Corp. announced that earnings for the fourth quarter ending May 31, 2008 are expected to be in the range of USD 1.45 to USD 1.50 per diluted share, compared to the previous forecast of USD 1.60 to USD 1.80.

“Since we provided earnings guidance for the fourth quarter in March when the crude oil price was slightly above USD 100 per barrel, our estimated fuel costs for the quarter have increased more than 7 percent, or USD 100 million from our previous estimate, and the weak economy has restrained demand for U.S. domestic express package and LTL freight services,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. “While we have dynamic fuel surcharges in place, they cannot keep pace in the short-term with rapidly rising fuel prices. This revised outlook assumes no additional increases to the current fuel price environment and no further weakening of the economy.”

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Mory Group: Press release from Alain Breau

Posted by | May 9, 2008 | |

MORY confirmed the launch of an operation aiming to strengthen the equity of the holding, after re-capitalization of its subsidiary MORY TEAM late last December.

This new operation, agreed by all MORY group shareholders, totals EUR 35M split as follows:

– EUR 15M capital increase, raising from EUR 28 M to EUR 43 M
– EUR 20M of subordinated convertible bonds, of near common equity nature.

At the end of the operation, which will take place over the next few weeks, managers will hold 65 pct of the capital and half of the convertible bonds, whilst the two investment funds (Bridgepoint and Barclays) that support the company since 1999 will hold 35 pct of the capital and the other half of the convertible bonds.

Through this transaction, shareholders renew their support and confidence in the future of MORY group, especially for 2008 which will see consolidated sales exceed 1 billion euros, i.e. twice that of 2000.

Recent securing of major contracts in transportation and logistics, as well as growth of overseas subsidiaries, along with tariff increase needed on the French market will allow MORY group to return in 2008 to profitability rates it had in the years 2000 to 2005 (i.e. 2 pct of EBIT/turnover).

As previously announced, in order to further strengthen their commitment to their company’s performance, group profit centre managers will then be sought to enter the capital of the group main operating subsidiaries.

Through these legal and financial operations, MORY group intends to establish the foundation of a 3 year development plan (2008-2010) which will allow the group to continue expansion in France and abroad in transportation and logistics, whilst ensuring its independence and home control.

This 3 year plan will be presented and discussed in detail in April.

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UPS board declares dividend

Posted by | May 8, 2008 | |

The UPS Board of Directors today declared a regular quarterly dividend of USD 0.45 per share on all outstanding Class A and Class B shares.

The dividend is payable June 3, 2008, to shareholders of record on May 19, 2008. UPS has either increased or maintained its dividend every year for more than three decades.

The newly elected Board, in setting its structure for the year, changed the composition of its Nominating and Corporate Governance Committee. That committee will include independent directors Duane Ackerman, Ann Livermore and Stuart Eizenstat and will be chaired by Ackerman.

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