FedEx Expects Holiday Shipments to Rise 12% |
| Wall Street Journal - Oct 24, 2011 |
FedEx Corp. forecast record holiday shipping Monday but said the increased package volume would be fueled by its least-profitable, e-commerce-related residential service.
FedEx said it expects to move 17 million packages overall on what it anticipates will be its busiest day of the year Dec. 12, up 10% from its busiest day during last year's holidays and nearly double what it handles on a normal day.
The Memphis, Tenn.-based package giant said it will handle 260 million shipments between Thanksgiving and Christmas, or 12% more than last year. But it attributed the trends primarily to growing use of online-shopping by consumers, which is leading to big volume increases for its SmartPost residential service.
FedEx Chief Executive Fred Smith said earlier this month that he expected retail sales to be up only 2.5% to 3% overall during the holidays.
Read Full Article from Wall Street Journal
- Posted: 2011-10-24 14:37:53
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