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FedEx Raises 2023 Forecast as Volume Declines Moderate

| Mike O'Brien

FedEx on Thursday released its third-quarter earnings report, upping its full-year earnings forecast as cost-cutting measures like major layoffs and air freight cutbacks take hold, even as shipping volumes globally remain challenged, boosting its stock more than 9% in after-hours trading.

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Liquidity Services Opens Second Pickup Spot in Cincinnati

| Mike O'Brien

Liquidity Services, a major marketplace for returned and overstock merchandise, has opened a second AllSurplus Deals location at its facility in Hebron, KY, allowing local consumers to purchase deals online, then pick them up at its warehouse. The first opened in Phoenix in 1999, and plans call for more facilities to add pick-up services.

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Pitney Bowes, Hestia Put Competing Proxy Statements Forward

| Mike O'Brien

Pitney Bowes announced a refresh of its board in a proxy statement, but it was not enough to satisfy a large stakeholder that has put forward its own slate of five outside board candidates ahead of the company’s annual meeting in May, saying wholesale changes are needed to boost performance.

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FedEx Worker Case Passed Over By Supreme Court

| Mike O'Brien

The U.S. Supreme Court refused to hear a case involving FedEx which had the potential to set precedent by giving workers the right to join “collective action” lawsuits when they live outside the state where the issue arose. The worker classification issue has been heating up in recent years, including California’s controversial AB5 law.

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USPS Getting EVs from Ford, Diesels from Chrysler

| Mike O'Brien

The U.S. Postal Service has awarded Ford a contract to deliver 9,250 electric delivery vehicles, while ordering an equal number of diesel-powered Dodge Ram vans to fill its immediate needs, plus 14,000 charging stations from three separate firms. Overall, the USPS will purchase at least 66,000 EVs between now and 2028, or 62% of the total fleet.

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Amazon Expanding Same-Day Capabilities

| Mike O'Brien

Amazon is aggressively expanding same-day delivery capabilities after a major pullback in planned fulfillment facilities which overshot demand when the pandemic boom receded. Feeling the competitive heat, Amazon is redirecting its investments toward smaller hubs closer to customers, making fast delivery a higher priority in 2023.

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American Eagle, Gap B2B Units Sign Partners

| Mike O'Brien

American Eagle Outfitters and Gap, who both launched B2B outsourcing units in 2022 to monetize their large shipping and fulfillment networks, have been adding partners lately to expand their capabilities, providing SMB and omnichannel retailers access to capacity and optimization they wouldn’t have otherwise.

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Domestic Imports Still Lagging Pre-Pandemic Levels

| Mike O'Brien

Domestic imports logged a 7.2% month-on-month increase in January, much higher than expected based on figures from the past six years, according to U.S. Census data as analyzed by global logistics and supply chain firm Descartes, yet still lagged behind pre-pandemic levels by a small margin. The NRF near-term outlook was less rosy.

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AxleHire Handling Next-Day Delivery from Seko Facilities

| Mike O'Brien

AxleHire, a startup last-mile logistics provider, has partnered with major 3PL and freight forwarder Seko Logistics to enable next-day deliveries directly from Seko facilities, eliminating middle-mile linehauls between hubs, saving time and money for shippers.