Fedex says it can grow by cut­ting costs

Austin American-Statesman - - BUSINESS - Com­plied from staff and wire re­ports

NEW YORK — FedEx may be pes­simistic about the U.S. econ­omy, but it’s con­fi­dent about in­creas­ing its earn­ings.

The world’s sec­ond-largest package de­liv­ery com­pany, a bell­wether for eco­nomic health be­cause of the vast num­ber and kinds of ship­ments it han­dles, low­ered its eco­nomic forecast for the U.S., say­ing there re­mains a lot of un­cer­tainty for the coun­try.

FedEx main­tained its earn­ings forecast for the full fis­cal year end­ing in May, count­ing on a cost re­duc­tion plan and a slightly more op­ti­mistic view of growth overseas.

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