Post by Sprockey on Oct 6, 2017 7:35:29 GMT -5
LOL
www.cnbc.com/2017/10/05/ups-fedex-shares-drop-on-fears-amazon-will-disrupt-them-with-its-own-delivery-service.html
Amazon spooks UPS, FedEx investors over fears that the retail giant will start making its own deliveries
Bloomberg News is reporting Amazon is trying out a new delivery program called "Seller Flex" where the company will pick up packages from third-party sellers selling on its platform and deliver the products to consumers.
Shares of UPS fell more than 2 percent Thursday. FedEx fell as much as 1.6 percent at its low for the day.
"We don't believe that Amazon's strategy is to do it themselves and the reason we believe that is we have this huge infrastructure, we're investing in technology, we have a great mutual relationship with them," said UPS CEO David Abney in an interview with CNBC in December 2016.
Bloomberg News is reporting Amazon is trying out a new delivery program called "Seller Flex" where the company will pick up packages from third-party sellers selling on its platform and deliver the products to consumers.
Shares of UPS fell more than 2 percent Thursday. FedEx fell as much as 1.6 percent at its low for the day.
"We don't believe that Amazon's strategy is to do it themselves and the reason we believe that is we have this huge infrastructure, we're investing in technology, we have a great mutual relationship with them," said UPS CEO David Abney in an interview with CNBC in December 2016.
Delivery company shares are dropping as investors worry Amazon is about to disrupt the industry.
Shares of UPS fell more than 0.7 percent Thursday. FedEx dropped as much as 1.6 percent before closing 0.1 percent higher.
Bloomberg News is reporting Amazon is trying out a new delivery program called "Seller Flex" where the company will pick up packages from third-party sellers selling on its platform and deliver the products to consumers.
Amazon clarified that the offering will continue to use some of its current delivery partners, but didn't comment on whether it will increase its own deliveries directly to customers.
Shares of UPS fell more than 0.7 percent Thursday. FedEx dropped as much as 1.6 percent before closing 0.1 percent higher.
Bloomberg News is reporting Amazon is trying out a new delivery program called "Seller Flex" where the company will pick up packages from third-party sellers selling on its platform and deliver the products to consumers.
Amazon clarified that the offering will continue to use some of its current delivery partners, but didn't comment on whether it will increase its own deliveries directly to customers.
