FedEx CEO Thinks About Amazon Threat Every Day
"We look at Amazon (NASDAQ: AMZN) as a wonderful company and service and they're a good customer of ours," FedEx (NYSE: FDX) CEO Fred Smith said in December of last year. "We don't see them as a peer competitor at this point in time." The notion that FedEx could be disrupted was "fantastical," Smith added.
That was despite Amazon's aggressive, yearslong expansion of its in-house delivery and logistics operations, Amazon Air. Slowly but surely, FedEx has started to acknowledge the growing threat that Amazon Air represents. FedEx reported fiscal first-quarter earnings last night. On the subsequent conference call to discuss the results, Smith finally conceded that he thinks about the Amazon threat every day.
Image source: Amazon.
Source Fool.com
