Alan Graf Quotes

We exceeded our original forecast for the second quarter due to outstanding operational performance and the deferral of certain advertising and promotional expenses to the second half of the fiscal year.

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Volume growth accelerated at the end of (the second quarter) and has continued to accelerate in quarter three.

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What we are most concerned with at FedEx is volume growth that provides a compensatory returns, ... I'm not as enamored with market share for market share sake as some people who like to write about it.

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Continuing weak economic conditions, particularly in the high-tech and durable goods sectors sharply reduced demand for our express services.

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Market conditions have deteriorated more than we anticipated, as reflected by numerous news accounts of earnings warnings and layoffs, particularly in the auto and high-tech sectors. Volume growth, yield growth and weights for February dropped noticeably for all of our operating units.

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Profitability is improving, ... By operating each of the FDX subsidiaries independently to compete in distinct market segments, we bring the most appropriate services and cost structure to each customer segment.

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