FedEx says current-quarter volumes in U.S. below projections

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Reuters

(Reuters) – FedEx Corp said on Tuesday that current-quarter package volumes in the United States have been below its projections, as the pandemic-driven e-commerce bubble deflates. Delivery providers like FedEx and United Parcel Service Inc witnessed a surge in e-commerce volumes in the early days of the pandemic, but the firms are now left with excess delivery capacity, after the demand nosedived. “In the U.S., you’re seeing again, as anticipated, a bit of a reset from the e-commerce boom and the volume surges that accompany that,” FedEx Chief Financial Officer Michael Lenz said while speakin…

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