Total reported sales for the second quarter of 2018 were $2.6 billion compared to $2.4 billion in the second quarter of 2017, an increase of 11%. Product sales in the second quarter were up 1%, while service revenues grew 120%, driven primarily by the revenues contributed by the CompuCom acquisition. On a consolidated basis, services represent approximately 16% of total Company sales. Service revenue excluding CompuCom grew 8% in the second quarter, due to the Company's strategic efforts to grow overall business services revenue. In the second quarter of 2018, Office Depot reported operating income of $48 million and net income from continuing operations was $19 million, or $0.03 per share, compared to operating income of $41 million, net income from continuing operations of $21 million and $0.04 per share in the second quarter of 2017. Click Read More below for additional information.
On Monday, FedEx modified its Express and Ground fuel surcharge rates, and created new indexes for International Export and Imports. These changes mean significant rate increases for nearly all FedEx shippers.
Shippers shouldn’t confuse this rate change with the weekly, normal fluctuation in fuel surcharge percentages based on market prices (as published by the Department of Energy), described as follows: “The fuel surcharge percentage for FedEx Express services is subject to weekly adjustment based on the weekly published U.S. Gulf Coast (USGC) spot price for a gallon of kerosene-type jet fuel. The fuel surcharge percentage for FedEx Ground services is subject to weekly adjustment based on the weekly published national U.S. on-highway average price for a gallon of diesel fuel.”
What’s different about the Sept. 10 rate change is the fact that FedEx added .75 percent to previous Express fuel surcharge tables, and a full 1 percent to Ground fuel surcharge tables.
Moreover, for the first time ever, FedEx created separate, higher fuel surcharges for international products.
Measuring the impact from the previous week, FedEx shippers just took a 16 percent to as much as a 69 percent rate increase!
How do the new FedEx fuel surcharges compare to its rival UPS?
Well, since November 2012, FedEx customers have enjoyed lower fuel surcharges than UPS. Not anymore (see chart below).
more at source: https://www.mytotalretail.com/article/fedex-announces-significant-rate-increases/