How FedEx Corp. performed in its fiscal first quarter could have a lot to do with some bad things that happened to a couple of the package delivery company’s competitors.
“[FedEx] was almost certainly a beneficiary of two meaningful events that unfolded within the three months of F1Q24, namely the labor negotiations of its closest peer, which led to market-share shifts right up to the 11th hour, and the bankruptcy/liquidation of one of the largest competitors to FedEx Freight, which also likely supported both volumes and pricing…
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