Tags: FedEx | Rise | Holiday | Shipments

FedEx Sees 11 Percent Rise in Holiday Shipments

Thursday, 11 Nov 2010 02:53 PM

FedEx Corp. expects the volume of shipments during the U.S. holiday shopping season to rise 11 percent, reflecting a modest forecast pickup in consumer spending after a brutal downturn.

The No. 2 U.S. package-delivery company expects to handle more than 223.3 million shipments between the U.S. Thanksgiving holiday on Nov. 25 and Christmas a month later, with peak activity hitting on Dec. 13, which it expects to stand as the busiest day in the company's history.

"We are optimistic about the volumes during the holiday shipping season," said Fred Smith, chief executive of the Memphis, Tennessee-based company.

It expects the biggest growth to come at its FedEx SmartPost venture, which ships packages to the U.S. Postal Service, with quasi-governmental service handling final delivery to the buyer's doorstep.

Holiday package volume at FedEx and larger rival United Parcel Service Inc has been rising in recent years as more Americans buy things online, whether from virtual retailers like Amazon.com or traditional chains such as Wal-Mart Stores Inc.

The company said it factored holiday growth into its forecast for its fiscal year, which ends in May. In September, FedEx forecast full-year earnings of $4.80 to $5.25 per share.

© 2017 Thomson/Reuters. All rights reserved.

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FedEx Corp. expects the volume of shipments during the U.S. holiday shopping season to rise 11 percent, reflecting a modest forecast pickup in consumer spending after a brutal downturn. The No. 2 U.S. package-delivery company expects to handle more than 223.3 million...
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