Sales rose more than 20% to $ 21.5 billion in the quarter, while net revenue more than doubled to $ 890 million.
A large part of the growth is due to the rising demand for products that people buy on their phones and computers – a trend that will not go away any time soon.
“We remain excited about the diversification and evolution of the e-commerce market,” Brie Carere, Chief Marketing and Communications Officer at FedEx, said during a conference call with analysts on Thursday night. “Some of our largest retail customers have reported the growth rates of e-commerce in the high double and even triple digits until 2020,”
Carere added that in the fourth quarter of last year, e-commerce accounted for 20% of all U.S. retail sales, significantly higher than pre-pandemic levels.
Carere rejected his concern that FedEx would lose momentum because more people are going to buy and buy again in the physical world after vaccinations with Covid-19 increase.
She conceded that there is ‘the potential for a short-term delay in e-commerce stores’, but that digital commerce will continue to grow as a percentage of the overall retail market.
FredEx CEO Fred Smith said during the analysis call that the company transports vaccines to more than 220 countries and territories around the world.
The delivery of vaccines has so far been ‘almost flawless’, he added, pointing out that ‘you can count on the number of problems you have caused in millions’.