FedEx Sends Holiday Cheer to Investors
FedEx (NYSE:FDX) predicts the company is going to have a very busy holiday season. FedEx expects to deliver 12% more packages over 2010 levels — a total of over 260 million packages globally between Thanksgiving and Christmas. In fact, on December 12, FedEx expects to deliver more than 17 million packages — that would be a record as the busiest day in company history.
The company will add about 20,000 workers for handling the increased volume. Internet and e-commerce are said to be the main drivers for this surge in deliveries, which comprise mostly apparel, consumer electronics, luxury items, books and other gifts from large retailers (NYSE:XRT).
FDX (NYSE:FDX) is trading at $81.30 today, up 2.46%. Shares are down 10.71% in one year. The stock’s trading range for the year is between $64.07 and $98.66.