Fedex’s European Growth Hopes Defy Two Months of Sliding Exports — Panjiva


Fedex’s European Growth Hopes Defy Two Months of Sliding Exports

Corp - Forwarders 157 European Union 406 Global 722

Freight forwarder Fedex saw a slowdown in revenue growth in its most recent quarterly report due to “Asia volume weakness” which has “deepened post-Chinese New Year” according to CFO Alan Graft. With nine Asian countries having reported data for February there’s been an average 5.4% year over year drop in exports. The outlook in Europe may be brighter with the “package business in Europe growing again” according to CEO Fred Smith. That would mark a significant turnaround after a 5.5% drop in exports in December and a further 5.3% slide in January.

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