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Reuters
FedEx says current-quarter volumes in U.S. below projections
Delivery providers like FedEx and United Parcel Service Inc witnessed a surge in e-commerce volumes in the early days of the pandemic, but the firms are now left with excess delivery capacity, after the demand nosedived. “In the U.S., you’re seeing again, as anticipated, a bit of a reset from the e-commerce boom and the volume surges that accompany that,” FedEx Chief Financial Officer Michael Lenz said while speaking at the Baird Global Industrial Conference.
