FedEx profit jumps 24% as online shopping booms

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FedEx has profited from the boom in online shopping, which happily coincided with a period of successful cost cuts. As a result, yesterday’s first-quarter results beat analyst expectations, despite “sluggish” express delivery earnings. As usual, the integrator announced next year’s price increases: an average of 4.9% in the US. That, of course, is in addition to its new dimensional rate change. The Wall St Journal here gives a decent analysis of the company’s results and notes that the bubble which used to be associated with hi-tech product launches no longer inflates in quite the same way as it did. But The Loadstar does query the implication that significant numbers of iPhone 6s were shipped by sea.