Retail

Christmas Is Coming Early To FedEx

FedEx is already gearing up for the holiday shopping season and is in talks with its larger eCommerce and brick-and-mortar retailers to better understand their holiday shopping needs, Mike Glenn, FedEx’s president and CEO, told analysts on a fourth quarter earnings call Tuesday, June 21.

“We're deep into preparations for the upcoming 2016 peak season,” Glenn said on the call, according to a transcript from Seeking Alpha. “We're closely collaborating with large e-tail and retail customers to understand their peak shipping needs, including geographic mix and package characteristics, so that we can once again have our resources positioned and ready to provide outstanding service.”

Glenn added that FedEx was “leveraging some new and evolving services” to meet heavy demand during its peak shipping season, including expanding its FedEx SameDay shipping area, FedEx Hold at Location, which offers package pickups at more than 2,400 FedEx locations, as well as FedEx Delivery Manager, which lets U.S. FedEx costumers change the time and location of deliveries to suit their needs.

Glenn also noted that on June 1 FedEx began imposing a surcharge on packages longer than 48 inches, cutting the previous size limit down from 60 inches.

For the fourth quarter, which ended May 31, FedEx reported total revenue of $12.98 billion, up 7.2% from last year’s $12.11 billion. FedEx Ground revenue also grew 20.2 percent, from $3.57 billion to $4.29 billion.

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