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

Spike in costs offset 8% rise in revenue as company revises guidance down for year
By Jim O'Neill,  Newser User
Posted Jun 18, 2008 8:32 AM CDT
FedEx Office.   (AP Photo)
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(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.