FedEx is forecasting a 13% increase in the shipments it handles this holiday season, largely due to a jump in online spending.
forecast of 280 million shipments would be a record number of packages
for the Memphis-based delivery company. FedEx expects to hire 20,000
seasonal workers to help with the holiday surge, about the same number
it hired last year. The company has about 300,000 permanent workers
In September, FedEx cut its fiscal year earnings
guidance, saying slow global growth was driving customers away from the
more expensive overnight services.
FedEx's forecast for shipment
growth is stronger than the National Retail Federation's estimate of a
4.1% increase in U.S. consumers' spending this holiday season.
FedEx's anticipated rise in packages is slightly less than the 16.8%
increase in online shopping forecasted by research firm eMarketer.
rival United Parcel Service has an edge with delivery contracts for
some major online retailers, including Amazon.com, but has yet to
publish its holiday shipment forecast. It is due to report third-quarter
earnings Tuesday, when it may give some guidance for the current
The U.S. Postal Service said it expects to handle 17.9
billion cards, letters and packages between Thanksgiving and New Year's
Eve, but it could not provide a comparison to last year.
Sunday, May 19 2013 11:46 PM EDT2013-05-20 03:46:30 GMT
Before Arkansas State Treasurer, Martha Shoffner, was put behind bars on extortion charges, it was a September 2012 that first brought her into the public eye. Auditors found Shoffner sold premature bonds,More >>
Auditors found Shoffner sold premature bonds, reportedly costing the state a return of more than $430,000. Many state officials begin to wonder what may have really been going on that ultimately led to her arrest.More >>
Sunday, May 19 2013 1:25 PM EDT2013-05-19 17:25:24 GMT
There is new multi-millionaire and now the country is waiting to find out who that is. A single ticket beat the odds of winning the Powerball lottery jackpot. The winning ticket for Saturday night's drawingMore >>
A single ticket beat the odds of winning the Powerball lottery jackpot.More >>
Saturday, May 18 2013 11:32 PM EDT2013-05-19 03:32:00 GMT
State Treasurer Martha Shoffner has been arrested and is being held in the Pulaski County jail. Shoffner was arrested Saturday afternoon by the FBI, according to Pulaski County Sheriff's office spokespersonMore >>
LITTLE ROCK - State Treasurer Martha Shoffner has been arrested and is being held in the Pulaski County Jail.More >>
Friday, May 17 2013 5:46 PM EDT2013-05-17 21:46:27 GMT
A Lonoke County couple is behind bars and accused of raping two children when the kids were three- and four-years-old. Lieutenant James Kulesa said the two suspects are related to the children. The womanMore >>
Lieutenant James Kulesa said the two suspects are related to the children.More >>