FedEx expects 17 million shipments on the busiest day in its history
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It’s going to be a long day for employees at FedEx Corp., as the shipping company muscles its way through what it expects to be its busiest day in its nearly 40-year history.
Memphis-based FedEx said it expects to move 17 million shipments globally on Monday -- nearly double its daily average and a 10% increase compared to Dec. 12 last year.
The company said e-commerce is causing much of the swell. It said its FedEx SmartPost service, which is geared toward online and catalog retailers, has grown nearly 30% year-over-year along with increases in volume at FedEx Ground and FedEx Home Delivery.
This holiday season, FedEx says it will transport 260 million shipments worldwide -- a 12% increase from last year. The company has added 20,000 seasonal positions -- as well as extra shifts for regular employees -- to help handle the load.
FedEx reported an 11% bump in revenue to $10.5 billion for the first quarter ended Aug. 31, compared to $9.5 billion last year. Income was up 22% year-over-year to $464 million, or $1.46 per share. The company will announce its second-quarter earnings Thursday.
Readers should check the Business section later for Ricardo Lopez’s behind-the-scenes look at the LAX FedEx hub.
-- Tiffany Hsu