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 MEMPHIS, Tenn. (AP) - FedEx Corp. reported a 2 percent drop in third-quarter earnings Wednesday, blaming the decline largely on an economic slowdown that tested the company's ability to quickly adjust costs. The shipping company said it also will have to struggle to keep up with a long-range goal of 10 percent to 15 percent growth a year in per share earnings.
But FedEx executives expressed confidence the economy would improve and said the company is well positioned to take advantage of it.
For the quarter ended Feb. 28, earnings slipped to $420 million, or $1.35 per share, from $428 million, or $1.38 per share, a year earlier.
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