FedEx executives this week announced plans to integrate its operating companies – ground, express and freight – to drive operational efficiencies and eliminate redundancies, with the hopes of more than recouping the one-time expense of $2 billion over five years to make it happen. Network 2.0 was unveiled during an investor’s day event.
FedEx announced its 2021 rate schedule, once again with a 4.9% increase for its ground, express and home delivery services, lower than some observers had expected, and the addition of a late fee for unpaid invoices, which UPS has had in place for years. FedEx is also adding surcharges for high cost and out-of-the-way areas.
FedEx has announced a number of rate changes, some of which will take place in January while others will take effect Nov. 2, ahead of the holiday rush.
As it is losing money from fuel surcharge revenue due to falling oil prices, FedEx plans to increase its fuel surcharge rates on Feb. 2, effectively putting them in line with rates from rival UPS.
FedEx reported Q1 revenue and earnings that beat analyst expectations, and announced plans for 50,000+ seasonal hires to deal with holiday shipping volumes.
FedEx announced a 4.9% increase in FedEx Ground, FedEx Express and FedEx Freight, effective January 5, doing so for the first time ahead of rival UPS.
FedEx reported revenue was up 4% and net income up 141% for the fourth quarter ended May 31.
A GNC executive told retailers at IRCE 2014 how they could avoid a repeat of holiday shipping delays in 2014.
FedEx announced this week that its subsidiary, FedEx Freight, will increase its shipping rates by 3.9%, effective March 31.