As Amazon targets business shippers, FedEx faces fresh questions
FedEx’s Richard W. Smith speaks during a grand opening ceremony at the new global headquarters inside the former Gibson Guitar Factory building in 2022. (Mark Weber/The Daily Memphian file)
When Amazon announced last week it was expanding its logistics offerings to all businesses, the stock market took notice — and FedEx stock dropped nearly 10%.
Despite that drop, Amazon’s announcement was expected: Amazon Supply Chain Services was a natural extension of the tech company’s recent work in the logistics, analysts said.
“They’ve been doing bits and pieces of the supply chain for various customers,” said Cathy Roberson, former longtime market analyst for UPS who’s now the managing director for Logistics Trends and Insights.
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FedEx Freight Amazon Cathy Roberson Satish Jindel IMC Logistics Subscriber OnlyThank you for reading The Daily Memphian. Your support is critical.
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Steve Bohnel
Steve Bohnel is a Temple University graduate, originally from Bucks County, Pennsylvania. He’s worked at news organizations in Iowa, Maryland and Pittsburgh, covering local and state politics. He covers health care, transportation and logistics, public companies, banking and finance and technology. He is an avid traveler, an Everton F.C. and Philadelphia sports fan, and likes collecting records and biking around town.
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