FedEx CEO Fred Smith mentioned Amazon as one of his competitors during Tuesday's earnings call, a shift in stance for a company that's long downplayed Amazon's move into the logistics space.
FedEx CEO Fred Smith, who often said Amazon is not a competitive threat, said during Tuesday's earnings call that Amazon is one of the five major players in the logistics space — and a company he thinks about every day."The last thing I'm going to say is we basically compete in an ecosphere that's got five entities in it. There's UPS, there's DHL, there's the U.S. Postal Service, and now increasingly, there's Amazon.
Smith's comment represents a major shift in stance for FedEx, who's long downplayed Amazon's growing presence in the logistics space. In March, for example, FedEx's president Rajesh Subramaniam said during the company's earnings call that Amazon is "not a threat to our business" or "our future growth," despite all the media attention on Amazon's potential to disrupt the industry. Last September, SubramaniamThe change in tune follows FedEx's decision to end its
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