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FedEx Projects Record Shipping Volume This Season, Up 12.4%

11/30/15 12:57 PM EST
The holiday shipping season should be good for FedEx’s (FDX) bottom line, with the company projecting record volume this year. FedEx expects to ship 317 million packages between Black Friday and Christmas Eve, which represents a 12.4% increase in volume over last year. FedEx will see volume spikes on the first two Mondays in December, and on this Cyber Monday, when 121 million people are planning to shop online, according to the National Retail Federation. ‘E-commerce is really driving it,’ said Patrick Fitzgerald, senior vice president of FedEx Services. ‘If you look back just eight years ago, our busiest days during the holidays compared to the busiest days this season, we’re expecting to be double what they were eight years ago, and that’s directly attributed to the rise in e-commerce.’ FedEx begins preparing for the volume surge early in the year. ‘It’s a relatively small number of retailers and e-tailers that drive this surge, so we work with them year round to understand what they’re expecting. And that can be the types of products they’ll be shipping, the timing within the peak season, so if they’re expecting a major promotion or new product launch that last week before Christmas, we need to know that,’ said Fitzgerald. Amazon (AMZN) is one of online retailers with which FedEx maintains a dialog. Fitzgerald spoke with TheStreet’s Rhonda Schaffler from FedEx’s Global Operations Control Center in Memphis.
Stocks in this video: FDXAMZN
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