Last year’s busiest day was December 16, when the company moved 22 million packages. Since 2007, shipments have nearly doubled on FedEx’s busiest day.
The company plans to hire more than 50,000 seasonal employees to help with the holiday rush and also has invested more in new aircraft and in FedEx Ground growth.
The National Retail Federation (NRF) has not yet provided its forecast for holiday spending growth, but the group does expect average spending per person to rise by nearly 5%. Mobile and online shopping is expected to increase this year, and that means more packages must be shipped.
Last year 51.6% of shoppers did their shopping online, and the NRF expects that to grow to 55% this year. Promotions like the free-shipping deal announced by Target Corp. (NYSE: TGT) may produce mixed results for the retailer, but they certainly do increase the number of packages that are shipped.
The first of the year will bring higher shipping charges from both FedEx and competitor United Parcel Service Inc. (NYSE: UPS), as well as a new method of calculating shipping by volume as well as by weight.
Shares of FedEx traded up about 0.3% Tuesday morning, at $160.42 in a 52-week range of $128.17 to $165.17.
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