• Total net sales were $130.3 million, an increase of $6.7 million or 5.4%, compared to $123.6 million last year. The Company ended first quarter of fiscal 2019 with 229 total stores compared to 222 total stores last year, both including three RSQ-branded pop-up stores. • Comparable store net sales, which includes e-commerce net sales, increased 2.4% compared to an increase of 0.1% during last year's first quarter. E-commerce net sales increased 29.6% and represented approximately 15.1% of total net sales this year, compared to a decrease of 7.2% and a 12.2% share of total net sales last year. Comparable store net sales in physical stores decreased 1.4% and represented approximately 84.9% of total net sales, compared to an increase of 1.2% and an 87.8% share of total net sales last year. • Gross profit was $35.7 million, an increase of $0.7 million or 2.0%, compared to $35.0 million last year. Gross margin, or gross profit as a percentage of net sales, decreased to 27.4% from 28.3% last year. • Net income was $0.7 million, or $0.02 per diluted share, compared to $1.2 million, or $0.04 per diluted share, last year. 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/