86 626
Fashion Jobs
MACY'S
Retail Fulfillment Associate, University Park Mall - Part Time
Permanent · MISHAWAKA
MACY'S
Asset Protection Captain, Interstate - Full Time
Permanent · RAMSEY
MACY'S
Retail Fulfillment Associate, Ventura Pacific View - Part Time
Permanent · VENTURA
MACY'S
Asset Protection Detective, South Beach - Full Time
Permanent · MIAMI BEACH
MACY'S
Asset Protection Security Guard, Garden State Park - Full Time
Permanent · CHERRY HILL
MACY'S
Retail Fulfillment Associate, White Oaks - Part Time
Permanent · SPRINGFIELD
MACY'S
Retail Fulfillment Associate, Galleria at Pittsburgh Mills - Part Time
Permanent · TARENTUM
MACY'S
Asset Protection Captain, Orland Square - Full Time
Permanent · ORLAND PARK
MACY'S
Asset Protection Security Guard, Queens Center - Part Time
Permanent · NEW YORK
MACY'S
Retail Fulfillment Associate, Village at Fairview - Part Time
Permanent · FAIRVIEW
MACY'S
Asset Protection Detective, Marley Station - Part Time
Permanent · GLEN BURNIE
MACY'S
Asset Protection Security Guard, Broadcasting Square - Part Time
Permanent · WYOMISSING
MACY'S
Asset Protection Security Guard, Winter Garden Village - Part Time
Permanent · WINTER GARDEN
MACY'S
Manager, Asset Protection
Permanent · SPRINGFIELD
MACY'S
Asset Protection Security Guard, Centerton Square - Part Time
Permanent · MOUNT LAUREL TOWNSHIP
MACY'S
Retail Fulfillment Associate, Westland - Part Time
Permanent · HIALEAH
MACY'S
Asset Protection Security Guard, Bloomingdale Court - Part Time
Permanent · BLOOMINGDALE
MACY'S
Retail Fulfillment Associate, Cumberland Mall - Full Time
Permanent · ATLANTA
MACY'S
Asset Protection Security Guard, Broadcasting Square - Full Time
Permanent · WYOMISSING
MACY'S
Retail Fulfillment Associate, Riverpark - Part Time
Permanent · FRESNO
MACY'S
Retail Fulfillment Associate, Shoppes at Buckland Hills - Part Time
Permanent · MANCHESTER
MACY'S
Retail Fulfillment Associate, Empire - Part Time
Permanent · SIOUX FALLS
By
Reuters API
Published
Sep 18, 2019
Download
Download the article
Print
Text size

FedEx sees 2020 profit below Street estimates on weakening economy

By
Reuters API
Published
Sep 18, 2019

FedEx Corp on Tuesday forecast full-year earnings below analysts' estimates and missed expectations for quarterly profit, as the package delivery company cited increased trade tensions and additional weakening of global economic conditions.


Reuters


The company's shares were down nearly 7% in after-market trading.

FedEx said it expects adjusted 2020 earnings of $11.00 to $13.00 per share. Analysts on average had expected a profit of $14.69 per share, according to Refinitiv IBES estimates.

In June, FedEx had forecast a mid-single-digit percentage point decline in adjusted earnings for fiscal 2020.

As the Sino-U.S. trade war continues, the shipper has become the target of Chinese ire over shipping mistakes involving several packages, including parcels addressed to China's Huawei Technologies Co, which Washington has put on an export blacklist.

"Our performance continues to be negatively impacted by a weakening global macro environment driven by increasing trade tensions and policy uncertainty," Chief Executive Officer Frederick Smith said.

The company said operating results also fell on increased costs to expand service offerings. FedEx added that the impact of one fewer operating day and the loss of business from a large customer also hurt results.

Adjusted net income fell to $800 million, or $3.05 per share, in the quarter ended Aug. 31, from $933 million, or $3.46 per share, a year earlier.

Revenue was flat at $17.05 billion.

Analysts on average had expected earnings of $3.15 per share.

© Thomson Reuters 2024 All rights reserved.