<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: JANUARY 12, 1996
(DATE OF EARLIEST EVENT REPORTED)
_______________________
FEDERAL EXPRESS CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE
(STATE OF INCORPORATION)
1-7806 71-0427007
(COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.)
2005 CORPORATE AVENUE, MEMPHIS, TENNESSEE 38132
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
(901) 369-3600
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ITEM 5. OTHER EVENTS
On January 12, 1996, Federal Express Corporation (the "Registrant") announced
by the press release attached as Exhibit 20.1 to this report and incorporated
herein by reference that recent severe weather, coupled with the impact of
earlier storms, will reduce the Registrant's third quarter operating profit
significantly below current consensus Wall Street estimates.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
20.1 Registrant's press release, dated January 12, 1996.
2
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FEDERAL EXPRESS CORPORATION
By: /s/ ALAN B. GRAF, JR.
-------------------------------------
Alan B. Graf, Jr.
Senior Vice President and
Chief Financial Officer
(Principal Financial Officer)
Dated: January 12, 1996
3
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EXHIBIT INDEX
EXHIBIT DESCRIPTION OF EXHIBIT
- ------- ----------------------
20.1 Registrant's press release, dated January 12, 1996.
4
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EXHIBIT 20.1
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[Federal Express Corporation Letterhead]
FOR IMMEDIATE RELEASE
MEMPHIS, January 12, 1996 ... Federal Express Corporation today announced
that recent severe weather, coupled with the impact of earlier storms, will
reduce the Company's third quarter operating profit significantly below
current consensus Wall Street estimates. The third quarter will end February
29, 1996.
Chief Financial Officer Alan B. Graf, Jr. said, "Earlier this week,
snowstorms shut down 18 airports in the Northeast and many businesses were
closed. This part of the country accounts for 25-30% of our worldwide
package volume, and these closures could mean as much as a $20 million loss
of revenues this week. We have also incurred additional expenses dealing
with the aftermath of the storm."
William J. Razzouk, Executive Vice President Worldwide Customer Operations,
said, "In addition to the storms, the weakness in international airfreight
traffic is also adversely affecting current period results. We've been able
to make some operational adjustments and short-term expense improvements, but
not enough to overcome the effects of a weak international economy."
- more -
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Graf concluded, "Our yield management actions are continuing to have a
positive influence domestically, and we are confident in the long-term
soundness of our international strategy."
Federal Express is the world's largest express transportation company,
providing fast and reliable services for important documents, packages and
freight. The company delivers more than 2.4 million items each working day.
It employs more than 119,000 people, and operates 531 aircraft and almost
37,000 vehicles in its integrated system. Federal Express reported revenues
of $9.4 billion for its fiscal year ended May 31, 1995.
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Contact: Tom Martin 901-395-3490 or
Shirlee Clark 901-395-3463
