Tags: FedEx | CEO | Recovery | Slipping | Away

FedEx CEO: Recovery Slipping Away

Thursday, 16 Sep 2010 09:57 AM

U.S. package delivery company FedEx Corp., whose profit more than doubled in its just-ended first quarter, expects the pace of the economic recovery to slow, its chief executive said on Thursday.

"We expect a phase of somewhat slower economic growth going forward," CEO Fred Smith told analysts on a conference call. "Slower growth is consistent with historic business cycles."

But he said the company remained confident that the global economy would continue to grow after a brutal downturn and added that the company saw "solid" shipping activity heading into the U.S. holiday shopping season.

FedEx earlier on Thursday reported fiscal first-quarter results that came a penny per share below Wall Street's expectations.

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U.S. package delivery company FedEx Corp., whose profit more than doubled in its just-ended first quarter, expects the pace of the economic recovery to slow, its chief executive said on Thursday. We expect a phase of somewhat slower economic growth going forward, CEO...
FedEx,CEO,Recovery,Slipping,Away
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2010-57-16
Thursday, 16 Sep 2010 09:57 AM
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