FedEx is really worried about trade
New York (CNN Business)FedEx expects global trade disputes and an economic slowdown could severely hurt its business next year.
The company dramatically cut its profit outlook for the full fiscal year, which ends May 30, lowering it by 7% to 10%. It had just raised that forecast three months ago.
Although FedEx’s US business remains strong, it says its international business, especially in Europe, weakened significantly over the last three months.
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