E-commerce Fuels FedEx's Busiest Day of the Year
Dec 10th 2012 6:51AM
Updated Dec 10th 2012 9:25AM
FedEx Corp. (NYSE: FDX) claims today will be its busiest day of the year. The rise of e-commerce has fueled that. As in-store sales fall at bricks-and-mortar stores, firms like Amazon.com Inc. (NASDAQ: AMZN) prosper.
FedEx released the data:
December 10, when 19 million packages are expected to move through the FedEx networks on what is projected to be the busiest day in company history. The 300,000 FedEx team members and approximately 20,000 seasonal personnel will have their hands full on "Busiest Day," supporting systems that will process more than 200 packages per second.
Increased e-commerce spending is directly contributing to record holiday FedEx volumes and a 10 percent year-over-year increase in volume from 2011. The majority of these shipments will enter the FedEx Ground and FedEx SmartPost networks.
At least two companies will not have their prosperity undermined this holiday season.
Shares of FedEx are inactive in premarket trading. They ended last week at $89.36, in a 52-week range of $76.95 to $97.19.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, Retail, Transportation Tagged: AMZN, FDX