NEW YORK (TheStreet) --Three of the major U.S. shipping and packaging companies are all estimating double-digit growth between now and the end of the holiday season.
UPS (UPS) is projected to ship 700 million packages, a 14% increase from last year. FedEx (FDX) is expected to ship 355 million packages, a 10% increase from a year ago. The United States Postal Service is projected to ship 750 million packages, a 12% increase from last year.
"It is expected to be another record-breaking peak shipping season. It's already off to a strong start. We have got over $3 billion spent online on Black Friday, according to Adobe (ADBE) , with a similar sum expected today, Cyber Monday," CNBC's Morgan Brennan said on Monday's "Squawk on the Street."
UPS, FedEx, and the USPS have hired a combined 185,000 seasonal workers in preparation for the peak season, Brennan noted. FedEx is also adding 30 new planes to maximize efficiency for its express orders.