Analyst sees potential for FedEx

   Early aircraft retirement, a $1.7-billion profit improvement program and improvement in its express segment are reasons why Cowen and Co. is anticipating slightly better performance from FedEx stocks when the company releases its fiscal fourth-quarter numbers Wednesday morning.
   Cowen predicts a lower earnings-per-share number than most analysts, but sees the steps FedEx is taking in the market as hallmarks of an improving company. Modal shift is affecting FedEx, but Cowen still sees a potential earnings increase.
   “FedEx results will continue to be impacted from the shift in customer preference from air to sea and ground,” Cowen wrote in an earnings update. “We believe the $1.7 billion profit improvement program will help to offset this shift going forward.”
   FedEx Trade Networks Tuesday opened its 40,000-square-foot distribution center in Romulus, Mich., part of a continued focus on expansion in North America. In addition to offering increased space, the new facility will also allow FedEx to engage in new services from Romulus.
   “Romulus is a key point of entry for FedEx Trade Networks and one of our largest U.S. customs brokerage operations. By adding onsite distribution services to our already vast portfolio offered in Romulus, we can provide customers more opportunities to improve their supply chains,” FedEx Trade Networks’ chief executive officer, Fred Schardt, said in a statement. “Expanding our capabilities in Romulus supports our goals of providing integrated, end-to-end customer solutions and growing our freight forwarding business organically.”  – Jon Ross