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November 22, 2008 11:07:18 CST

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FedEx Reports $241M Loss on Fuel Costs, Soft Economy

Posted Jun 18, 08 8:32 CDT in Business 

(Newser) – Surging fuel costs, softening demand, and retail operation charges—including the cost of renaming its FedEx Kinko’s stores FedEx Office—sent FedEx Corp. to a fourth-quarter loss of $241 million, or 78 cents a share, compared to profits of $610 million or $1.96 a year ago, reports the Wall Street Journal. Revenue rose 8%. Earnings were below analysts' estimates, and the company predicted a "very difficult'' environment well into next year.

Source Wall Street Journal

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FedEx Office.   (AP Photo)
FedEx workers load a cargo plane at Logan International Airport in Boston.   (AP Photo/Bill Sikes)
Frederick Smith, Chairman, President and CEO of FedEx Corp.   (AP Photo/Mark Lennihan)
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corporate earnings • writedowns • FedEx • United Parcel Service Inc.


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