Earnings delivery… FedEx reports Wednesday, after revenue fell in its last reported quarter as ecomm and shipping demand slipped. Analysts think FedEx’s luck could pick up after rival transport biz Yellow Corp. filed for bankruptcy last month. While UPS will be spending more after its generous union labor agreement, FedEx is focused on slashing $4B in expenses by 2025 through layoffs and consolidation. As UPS’s expenses go up, FedEx could benefit by raising prices and cutting costs. It plans to hike US shipping rates by ~6% next year.
Tour of Italy… Olive Garden parent Darden reports Thursday, after beating expectations for the past three quarters. Darden, which also owns LongHorn Steakhouse and Capital Grille, recently finished its $715M acquisition of Ruth’s Chris. Olive Garden’s poised to satisfy consumers’ hunger for dining deals: the breadstick bigshot has inspired “cheap meal” hacks on TikTok as more Americans dine out on a budget. According to a new study, low-price restaurant chains (like Olive Garden, Applebee’s) are the most socio-economically diverse places in the US.