Spike in costs offset 8% rise in revenue as company revises guidance down for year
(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. More»
