Dec 14, 2010
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FedEx to move 16 million packages on busiest day

Dec 14, 2010

Dec 14 - FedEx Corp expects to handle 16 million packages on Monday, its busiest day of the holiday season between Thanksgiving and Christmas, marking a 13 percent increase over a year ago.

FedEx delivery truck on Broadway

Overall, FedEx expects to move 223 million shipments worldwide this holiday season, up 11 percent over last year, with more than half its volume from online and catalog retailers. Books, clothing, consumer electronics and luxury goods are driving FedEx's volumes this year, the company said.

FedEx's seasonal volume estimate was unchanged from the figure it provided last month, which is included in its earnings forecast.

On its busiest day in 2007 and 2008, when the recession crimped holiday sales, FedEx handled about 12 million packages.

FedEx is set to report fiscal second-quarter earnings on Thursday. Analysts expect a profit of $1.31 per share.

With the U.S. economy slowly mending, the Memphis, Tennessee-based company in September raised its earnings forecast for the fiscal year ending in May to a range of $4.80 to $5.25 per share.

Larger rival United Parcel Service said last month it expected a 7.5 percent rise in holiday deliveries and would hire 50,000 seasonal workers.

(Reporting by Nick Zieminski and Lynn Adler; Editing by Lisa Von Ahn)

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