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IN BRIEF / EARNINGS

Fedex Corp

September 18, 2003

* FedEx Corp. said its profit dropped 19% in its fiscal first quarter, citing the costs of a program for early retirement and voluntary severance.

The Memphis, Tenn.-based company earned $128 million, or 42 cents a share, in the three months ended Aug. 31, down from $158 million, or 52 cents, in the same period last year.

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