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Article: FedEx upbeat on outlook despite lower quarter profit.(Shipping)
- Article from:
- Manila Bulletin
- Article date:
- September 19, 2009
CopyrightCOPYRIGHT 2009 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, September 19 (Reuters) - FedEx Corp. reported a 53 percent drop in quarterly profit as the worldwide economic downturn continued to weigh on shipping volumes.But the package delivery giant and economic bellwether said most of its markets were continuing to show signs of improvement, raising the prospect of a wider rebound that might help lift other companies and sectors out of the slump.''Confidence appears to be improving, the housing sector seems to have bottomed and the auto sales have picked up,'' Fred Smith, FedEx's chairman, chief executive and president, said during a conference call to discuss the results.''These are encouraging signs of a more stable ...
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