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FedEx chairman Fred Smith has cricitised retailers who view transport companies “as some sort of utility or vendor”. He said they were the companies who had a “real problem” in e-commerce as they tended to make some  “really really bad decisions”. He was speaking as FedEx announced better than expected results for the quarter, during its busiest peak season ever. Revenue increased 32% tfor its Ground division, to $4.05 billion, partly owing to the acquisition of Genco. FedEx Express saw revenue fell 6% to $6.59 billion owing to lower fuel surcharges and currency, but operating income rose 26% to $622 million following restructuring.

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