FedEx Gears Up for Record Shipments on Monday
Dec 7th 2012 2:33PM
FedEx Corp. (NYSE: FDX) expects to move 19 million packages on Monday, making it the busiest day in the company's history. Over the course of the peak holiday shopping season - from Thanksgiving Day through Christmas - FedEx expects to handle 280 million packages, 11% more than it handled last year.
The company said it has been preparing for this day for nearly a year and that 300,000 employees, 20,000 seasonal workers, 90,000 vehicles and 660 aircraft will be involved in processing more than 200,000 packages a second on Monday. The 19 million packages expected to be moved on Monday are nearly double the 9.8 million packages the company shipped on its busiest day in 2005.
FedEx said that increased online spending is "directly contributing" to the record shipping pace. Online sales are expected to rise by 17% year-over-year and Monday alone is expected to generate $1.1 billion in online sales.
FedEx shares are down about 0.1% today at $89.16 in a 52-week range of $76.95 to $97.19.
Filed under: 24/7 Wall St. Wire, Services Tagged: FDX