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Home » Rising Freight Costs Are Weighing on Companies’ Profits

Rising Freight Costs Are Weighing on Companies’ Profits

February 12, 2018
The Wall Street Journal

The Wall Street Journal reported in January that shippers are postponing deliveries or being forced to accept higher prices due to a nationwide truck shortage.

Increased demand, from retailers looking to restock after the holidays and from manufacturers, has made it harder for companies to book transportation, particularly on short notice. Prices have also risen due to bad weather, a new federal trucking safety rule and diesel prices that are around a three-year high.

In recent months, Prestige Brands Holdings Inc., which sells over-the-counter medicines, has had to hire additional trucking partners to ensure its products reach customers. The company said last week the higher freight and warehousing costs cut into its operating margin in its most-recent quarter, and it expects the trend to continue in the current quarter.

“We started to expand the number of freight carriers that we were using to make sure that we had the capacity needed,” Chief Executive Ron Lombardi told analysts on a conference call.

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Logistics Logistics Outsourcing LTL/Truckload Services Transportation & Distribution SC Finance & Revenue Management Transportation Management All Warehouse Services Order Fulfillment E-Commerce/Omni-Channel Retail North America
KEYWORDS All Warehouse Services E-Commerce/Omni-Channel Logistics Logistics Outsourcing LTL/Truckload Services North America order fulfillment Retail SC Finance & Revenue Management Transportation & Distribution Transportation Management
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