FedEx delivered strong revenue and profit for the third quarter, but the latter was below analyst expectations, and volume was negatively impacted by the Omicron variant to the tune of $350 million between Express and Ground, a falloff the company said began rebounding in February.
A disgruntled group of FedEx Ground contractors are blaming the company for losses this past peak season due to investments in leased vehicles and temporary staff for a massive holiday deluge that never materialized, the Wall Street Journal is reporting. More than 800 of FedEx Ground’s 5,000+ contractor firms signed onto the letter.
Consumers may focus on curbside pickup, speed of delivery, trouble-free returns and seamless experiences, but retailers and brands face heightened fulfillment challenges, leading many to embrace outsourcing to third-party logistics (3PLs)