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TRUCKING INDUSTRY * USA - FedEx Raises Rates as Profit Falls 53 Percent
Effective 3.9 percent price increase comes as express, trucking revenue slide
Memphis,TENN,USA -The Journal of Commerce -Sep 17, 2009: -- FedEx reported a $181 million profit Thursday for its fiscal quarter ending Aug. 31 that was down 53 percent from a year ago, but the carrier also saw improving demand in its express business and announced a rate increase for expedited shippers... FedEx said the 5.9 percent price increase for domestic and U.S. export express shipments would take effect Jan. 4, 2010, and the fuel surcharge would be reduced at the same time by two percentage points, making the rate hike effectively 3.9 percent... FedEx saw its express revenue decline 23 percent in its fiscal first quarter compared to the same period a year ago, and the FedEx Express operating profit fell 70 percent to $104 million, largely because of declines of more than 20 percent in yield...Labels: trucking industry news USA
posted by Unknown @ 10:06 AM
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