Gross profit percentage is expected to be in the range of 42.0% to 44.0%, reflecting a higher mix of branded sales volume and the launch of new products, together with a significant reduction in the private label business.
After a disappointing set of Q3 results from FedEx last week driven by overcapacity in the international freight industry and an unfavorable volume-mix in the express package delivery segment, we have adjusted our price estimate for the company.