We would never discount AMZN as a competitor. Its supply chain offering integrates freight, warehousing, inventory management, fulfillment and parcel shipping, directly competing with many carries. For TFII, it is not a huge negative, however, in that AMZN is not a big customer, so if AMZN customers switch from TFII it may not see a materical impact. No customer accounts for more than 5% of revenue. The question becomes whether other, non-Amazon merchant customers see enough in Amazon's new offering to switch. This is possible, but will take time, and TFII should be able to fight back to some extent through good service and its own client offerings. So the stock dip we have this week (about 2% with a bounce today) probably reflects the situation fairly well, for now.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in AMZN.