FedEx Expects 17 Million Shipments in Busiest Day Ever
FedEx (NYSE:FDX) expects to move 17 million shipments globally by the end of the day Monday in what it expects to be its busiest day in its nearly 40-year history. That’s nearly double its daily average and a 10% increase compared December 12 last year.
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E-commerce is responsible for much of the swell, said FedEx. The company’s SmartPost service, which is geared toward online and catalog retailers, has grown nearly 30 percent year-over-year, while FedEx Ground and FedEx Home Delivery have also logged more modest increases in volume.
FedEx says it will transport 260 million shipments worldwide this holiday season, a 12 percent increase from last year. The company has added 20,000 seasonal positions, as well as extra shifts for regular employees, to help handle the holiday load.
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FedEx reported an 11 percent bump in revenue to $10.5 billion for the first quarter ending August 31, compared to $9.5 billion in the same quarter last year. Income was up 22 percent year-over-year to $464 million during the summer quarter. The company will announce earnings for the September-November quarter on Thursday.