FedEx Reports $241M Loss on Fuel Costs, Soft Economy

Spike in costs offset 8% rise in revenue as company revises guidance down for year
By Jim O'Neill,  Newser Staff
Posted Jun 18, 2008 8:32 AM CDT
FedEx Reports $241M Loss on Fuel Costs, Soft Economy
FedEx Office.   (AP Photo)

Surging fuel costs, softening demand, and retail operation charges—including the cost of renaming its FedEx Kinko’s stores FedEx Office—sent FedEx Corp. to a fourth-quarter loss of $241 million, or 78 cents a share, compared to profits of $610 million or $1.96 a year ago, reports the Wall Street Journal. Revenue rose 8%. Earnings were below analysts' estimates, and the company predicted a "very difficult'' environment well into next year. (More FedEx stories.)

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