Bean is one of the country's biggest and best-known catalog and online retailers. In 2007, the last full year it reported, revenue totaled $1.62 billion. Last year, Bean shipped about 18 million packages; at UPS, the average daily domestic package volume is about 15.1 million.
Bean spokeswoman Carolyn Beem said most -- but not all -- of the company's deliveries are handled by the primary shipper, which has been FedEx for the past 12 years. The new contract, under which UPS becomes the primary shipper, takes effect Feb. 23.
The decision to shift was based partially on price and partially on UPS' efforts in "customizing their product to meet our needs," she said. In a prepared statement, Bob Peixotto, Bean senior vice president, noted: "UPS is providing industry-leading technologies to support our tracking and visibility needs as well as options for facilitating returns that will improve our customer experience."A FedEx spokesman declined to comment.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV