{"id":117679,"date":"2021-03-19T17:41:38","date_gmt":"2021-03-19T17:41:38","guid":{"rendered":"https:\/\/precoinnews.com\/?p=117679"},"modified":"2021-03-19T17:41:38","modified_gmt":"2021-03-19T17:41:38","slug":"fedex-exec-shows-off-guardian-angel-tracking-technology","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/fedex-exec-shows-off-guardian-angel-tracking-technology\/","title":{"rendered":"FedEx exec shows off &#39;guardian angel&#39; tracking technology"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>Despite taking a hit from lousy, snowy weather in February, FedEx is thriving thanks to online shopping.<\/p>\n<p>Shares of <span>FedEx<\/span> <span>(<span>FDX<\/span>)<\/span> soared more than 6% Friday after the shipping giant reported earnings and revenue for its latest quarter that easily topped forecasts and provided a healthy outlook for 2021.<br \/>\nSales increased more than 20% in the quarter to $21.5 billion, while net income more than doubled to $890 million.  <\/p>\n<ul><\/ul>\n<p>Much of the growth was due to surging demand for products that people are buying on their phones and computers \u2014 a trend that isn&#8217;t going away anytime soon. <\/p>\n<ul><\/ul>\n<p>FedEx&#8217;s results are even more impressive given the company&#8217;s messy breakup with <span>Amazon<\/span> <span>(<span>AMZN<\/span>)<\/span> in 2019. But FedEx has found many willing retailers to partner with and has more than replaced the lost revenue from Amazon.<\/p>\n<p>&#8220;We remain excited about the diversification and evolution of the e-commerce market,&#8221; said FedEx chief marketing and communications officer Brie Carere during a conference call with analysts Thursday evening. &#8220;Some of our largest retail customers reported e-commerce growth rates in the high double and even triple digits through 2020,&#8221;<br \/>\nCarere added that e-commerce accounted for 20% of all US retail sales in the fourth quarter of last year, significantly above pre-pandemic levels.<br \/>\n<img decoding=\"async\" alt=\"&amp;#39;We were the only airplanes in the sky&amp;#39; -- the surreal lives of Covid-era pilots\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210307152950-01b-pilots-life-under-covid-large-169.jpg\"><br \/>\nThe Covid-19 outbreak and resulting digital shopping surge has been a boom for both FedEx and top rival <span>UPS<\/span> <span>(<span>UPS<\/span>)<\/span>. Shares of FedEx have soared 150% in the past 12 months while UPS stock is up 70%.<br \/>\nCarere shrugged off concerns that FedEx would lose momentum as more people venture out and shop in the physical world again now that Covid-19 vaccinations are on the rise.<br \/>\nShe conceded that there is &#8220;the potential for a short-term deceleration in e-commerce shopping&#8221; but that digital commerce would continue to grow as a percentage of the overall retail market.<br \/>\nFedEx &#8212; and UPS, for that matter &#8212; are also benefiting from contracts to ship Covid-19 vaccines and related supplies around the globe. That includes a deal in the US to ship the <span>Moderna<\/span> <span>(<span>MRNA<\/span>)<\/span> and <span>Pfizer<\/span> <span>(<span>PFE<\/span>)<\/span>\/<span>BioNTech<\/span> <span>(<span>BNTX<\/span>)<\/span> shots as well as the newly approved single dose <span>Johnson &amp; Johnson<\/span> <span>(<span>JNJ<\/span>)<\/span> vaccine. <\/p>\n<ul><\/ul>\n<p>FedEx CEO Fred Smith said during the analyst call that the company is transporting vaccines to more than 220 countries and territories around the world.<br \/>\nThe vaccine deliveries so far have been &#8220;almost been flawless,&#8221; he added, noting that &#8220;you can count on your hand the number of issues with the number of vaccines we&#8217;ve delivered in the millions.&#8221;<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/03\/19\/investing\/fedex-earnings-economy-vaccines\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)Despite taking a hit<\/p>\n","protected":false},"author":3,"featured_media":117678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FedEx exec shows off &#039;guardian angel&#039; 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