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FedEx Showed Real Grit in FY12


We committed to a strong performance, and we delivered — no small feat, given the year’s challenges. Our earnings per share increased, and annual revenues exceeded $42 billion, a 9 percent increase, despite political gridlock in the United States, financial turmoil in Europe, a slowing Asian economy and volatile fuel prices.

How a business responds during difficult times is a true measure of its resilience and a test of its strategy. In a volatile marketplace, dedicated FedEx team members turned in a world-class performance last fiscal year. Their dynamic, disciplined approach to some pretty stiff headwinds defines FedEx at its best.

Our long-term strategies are working, and we believe we will improve our competitive position and our financial performance over the next several years, as a result. To do so, we must take advantage of our scale to improve our efficiency. And second, we must remain nimble and responsive to our customers. We try to manage the critical balance between the two every day.

In this regard, our flexibility kept FedEx profitable during the 2008-2009 recession, and we emerged stronger. In the same vein, we recognize many residual challenges are ongoing and require us to run a lean and flexible organization. All companies, including FedEx, face many rising costs they cannot directly control, be it health care or energy. This, in turn, requires relentless focus on quality, which has been embedded in our culture since our first day of operations. Utilizing our Quality Driven Management system, we are confident we can reduce costs while simultaneously improving service levels.

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Comments (3) 

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I feel fortunate to be a part of this growth story !!

I'm so very blessed to be a volunteer here at FedEx and I have to thank each and every one of you and Fred Smith for making this possible for me! Thank you Fred for sharing this newsletter with all of us! I enjoyed it so much!

Most well-led and well-managed companies can succeed in booming economies. It shows the character of our company, the employees and the leadership, that we continue to deliver results and value to our shareholders and customers even in challenging times.

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About This Blogger

Smith gives his perspectives on the global economy as well as issues of importance to FedEx.

Other Posts by Fred Smith