FedEx plans to cut more than $2 billion in costs

Erin Munz, Memphis Commercial Appeal
·2 min read

Good morning and happy Friday!

This is Features and Business Editor Erin Munz, and you're reading the Daily Briefing, our one-stop digital shop for the best Memphis stories from our award-winning Commercial Appeal team.

In business news, FedEx warned last week that the first quarter of its 2023 fiscal year had been disappointing. The company's earnings report on Thursday showed just how disappointing.

As a result, FedEx plans to cut more than $2 billion in costs this fiscal year, with more than half of that coming from FedEx Express, Niki Scheinberg reports.

Meanwhile, today marks the one-year anniversary of a shooting at a Kroger store in Collierville. The gunman killed one and injured 13 before taking his own life.

"In a way it feels like it was just yesterday, but in another way it feels like it was years ago," Collierville Alderwoman Maureen Fraser said. "It's still really hard." (You can read Dima Amro's full story below on how town residents are still dealing with the effects. In this story, Lucas Finton looks at how a Kroger employee injured in the shooting has filed a lawsuit against Kroger and JFE Franchising, the sushi company shooter was a franchisee for.)

And it's a Friday in September, so we can't not talk about high school football. It's hard to believe we're officially halfway through the season, but we are. So, as the season's second half begins, Wynston Wilcox looks at some of the most intriguing games ahead that have playoff implications in this story.

Need more prep gridiron news? Wynston highlights the players who have made the most impact so far, our frontrunners for football player of the year. You can read that story here.

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This article originally appeared on Memphis Commercial Appeal: FedEx plans to cut more than $2 billion in costs