FedEx projects record holiday shipments |
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Mon, 29 Oct 2007 15:05
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MEMPHIS, Tenn. (AP) - FedEx Corp. said Monday it expects to move a record number of packages this holiday season, despite a slowdown in U.S. retail sales and overall economic conditions.The company expects to move 11.3 million packages through FedEx Express and FedEx Ground on Dec. 17 -- the last day of FedEx Ground shipments for Christmas. The company ships an average of about 7 million packages per day.Also on Dec. 17, FedEx estimates its international markets will together process 350,000 FedEx Express domestic international shipments.FedEx Kinko's is expected to move 345,000 FedEx Express and FedEx Ground packages on that day, which represents a 12 percent increase over the division's busiest day last year.'While overall economic growth has slowed, there are several indicators for a healthy holiday season,' the company said in a statement. 'Consumer spending remains steady and e-commerce will continue to drive holiday spending while sales of luxury goods and electronics should remain strong.'Shares fell 22 cents to $103.70 in morning trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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