FedEx’s Fred Smith: It’s Unlikely Company Will Need Federal Help
FedEx Corp. CEO Fred Smith said during a television appearance that he doesn’t expect his company to seek assistance from the federal government to survive the economic downturn being caused by the spread of COVID-19.
March 22, 2020Walmart Plans 150,000 New Hires, Virus Testing Sites
Walmart Inc. is hiring 150,000 temporary workers and readying its parking lots for coronavirus tests as the world’s largest retailer girds itself to deal with the unprecedented challenges of the fast-spreading outbreak.
March 21, 2020XPO Backs Away From Possible Sale, Spinoffs of Units
XPO Logistics Inc. said the current economic environment has compelled it to step back from earlier plans to explore the sale or spinoff of some of its assets.
March 20, 2020FedEx Reports Mixed Earnings; Leadership Cites Impact of Coronavirus
FedEx announced March 17 that year-over-year quarterly net income for its fiscal third quarter fell 57% to $315 million, compared with $739 million in the same period a year ago. But Q3 revenue rose 3% to $17.5 billion from $17 billion a year ago.
March 17, 2020CRST Buys New Jersey-Based Final-Mile Logistics Company NAL Group
CRST International on March 2 announced it had acquired final-mile specialist NAL Group. Financial terms of the agreement were not made public.
March 3, 2020FedEx to Add 42 Electric Charging Stations in California
FedEx Corp. plans to electrify 42 FedEx stations in California, in the next phase of its electric vehicle rollout — calling it one of the largest deployments of integrated charging infrastructure by a single commercial fleet to date.
February 28, 2020Coronavirus Cuts Prompt DSV Panalpina to Open Cargo Flights Between Alabama, China
Danish company DSV Panalpina is opening a route between Alabama and China in response to shipping cutbacks over the coronavirus.
February 24, 2020Atlas Logistics Acquires TopHat Logistical Solutions
Atlas Logistics acquired full-service logistics company TopHat Logistical Solutions in a deal announced Feb. 19.
February 21, 2020NFI Motivated to Move Forward on Electric
CHINO, Calif. — For-hire carrier NFI is planning broader adoption of electric Class 8 trucks after six months of testing the Freightliner eCascadia in Southern California, the company said.
February 19, 2020XPO to Lay Off 304 Workers at Texas Distribution Center
XPO Logistics Inc. will lay off 304 workers at an AllianceTexas distribution center in April, according to a notice filed with the Texas Workforce Commission.
February 14, 2020