FedEx is Ending Ground-Delivery Contract with Amazon

FedEx said Wednesday it will end its ground-delivery contract with Amazon and won’t renew it at the end of the month.

“This change is consistent with our strategy to focus on the broader e-commerce market, which the recent announcements related to our FedEx Ground network have us positioned extraordinarily well to do,” a FedEx spokesperson said.

Shares of FedEx and Amazon were down at least 1% in premarket trading. Bloomberg first reported FedEx’s decision.

Read the article at CNBC.

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