Logistics

Echo Global Logistics said its second-quarter profit grew 50.3% to $2.9 million, or 13 cents per share, compared with $1.9 million, or 9 cents, a year ago.

Logistics firm Expeditors International of Washington said Tuesday its second-quarter profit rose 5% to $95 million, or 44 cents a share, from $90.3 million, or 42 cents, a year ago.

Old Dominion Freight Line has introduced Vault Logistics, a new third party-logistics provider.

TransForce Inc.’s second-quarter net income rose to C$26.2 million, or 27 cents a share, from C$17 million, or 18 cents, a year earlier.

TNT Express NV, Europe’s second largest post company, said its second-quarter earnings declined to about $5.7 million, from about $37 million a year earlier.

Logistics company DB Schenker USA announced that it is closing a domestic freight sorting hub in Toledo, Ohio, and shifting contractors to move its cargo, a step that cost 700 people their jobs.

CRST International said it has acquired Specialized Transportation Inc., formerly the high-value products/logistics division of North American Van Lines.

Consumer confidence fell to a two-year low in July, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

Intermodal traffic increased 0.8% last week from a year ago, the Association of American Railroads reported.

Chrysler Group LLC reported second-quarter net profit of $181 million, after excluding losses from paying off U.S. and Canadian government loans early, Bloomberg reported Tuesday.