Industry News

FedEx Revenue Jumps on Holiday Surge

By December 18, 2020 No Comments

FedEx Corp. isn’t missing Amazon.com Inc. this holiday season.

 

Shipping volumes at FedEx’s Ground unit surged 29% in the latest quarter, as consumers continued to buy everyday goods online, while retailers urged them to do their holiday shopping earlier than normal against the backdrop of the coronavirus pandemic.

 

The combination of factors boosted revenue and profits at the delivery company for the three months ended Nov. 30, which included Black Friday. FedEx has raised prices and handled a surge in e-commerce packages this year, even after it publicly split ways in 2019 with Amazon, the biggest online retailer.

 

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