FedEx's 'breathtakingly bad' earnings has investors scrambling to find the bottom as Amazon's skyrocketing logistics network looms
on the company's creation of 100,000 jobs in its last-mile network. It will move 3.5 billion parcels this year, according to the release.Amazon told its third-party sellers that they could no longer use FedEx Ground and Home shipping services for Prime shipments.
. FedEx delivered 90.4% of its packages on time, several percentage points lower than Amazon's in-house network , USPS , and UPS .Cathy Roberson, Logistics Trends & Insights analyst, told Business Insider that Amazon was right to cut off FedEx if the company's delivery rates were below standards. Still, announcing that days before FedEx's second-quarter fiscal year 2020 earnings was "perfect timing.
How leading analysts wrote to investors following the earnings announcement reflected a collective shuddering on Wall Street.
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