Economics
FedEx Cuts 2014 Forecasts on Storms as CEO Scolds Retail
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FedEx Corp., operator of the world’s largest cargo airline, cut its 2014 profit forecast, blaming unseasonably harsh winter weather and online retailers’ sloppy packaging practices.
The company trimmed its profit forecast for the full year to a range of $6.55 to $6.80 a share, from $6.73 to $7.10. That falls short of analysts’ estimates of $6.90 a share, according to data compiled by Bloomberg.