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0.000229811095279732 -0.000965206600174562 -0.00124097991451019 -0.00124097991451019 -0.00124097991451019 -0.00124097991451019 -0.00124097991451019 -0.00124097991451019
Stock impact report

FedEx CEO stares down threat from Amazon delivery network [MSN Money]

United Parcel Service, Inc. (UPS) 
Last united parcel service, inc. earnings: 4/28 07:00 am Check Earnings Report
US:NYSE Investor Relations: investors.ups.com
Company Research Source: MSN Money
FedEx CEO Fred Smith isn’t sweating Amazon’s move to expand its own delivery network, saying the e-commerce giant is likely to take more business from the post office than the package courier. Load Error “Amazon is a good customer. We think they’ll be a bigger customer in years to come if they continue to grow and they certainly should,” Smith said in an interview Tuesday in Singapore, where he was attending the Bloomberg New Economy Forum. “The biggest single entity that will lose traffic as Amazon puts out its contractor delivery force is U.S. Postal Service.” To gain more control over deliveries, Amazon this year began forming its own network by supplying vehicles, uniforms, technology and packages to third-party contractors it calls Delivery Service Partners. Most Amazon volume now is handled by the post office, FedEx and United Parcel Service Inc. The bulk of the new program is for residential customers. Those are less profitable for couriers than businesses, w Show less Read more
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