FEDEX, America's No 2 package delivery company, posted a 33 per cent third quarter profit decline year on year to US$378 million, drawn on revenues of $11.3 billion, up three per cent.
The disappointing results for the three months ending February 28 were blamed on severe Christmas weather, and sloppy e-commerce by retailers failing to affix labels or provide sufficient packaging leading to damage.
"These were an integral part of the problem, even more than the weather", said FedEx CEO Fred Smith.
Social media sites were inundated by customer complaints of Christmas presents being delayed due to a lack of capacity by the shipping giants, UPS and FedEx. However, retailers tendered packages to the shippers before they were in the system.
Last-minute orders created a huge spike in shipping volumes that saw FedEx's daily volume for its ground unit increase by eight per cent.
Despite this, FedEx remains on course for a profit in cost-cutting measures of $1.7 billion up to 2016.
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