FedEx Readies for Busiest Holiday Season in Company History
Paris, Dec. 7 2007 – FedEx Express expects to break company volume records when nearly five million packages move through the FedEx Express network on Dec. 17, 2007.
Between FedEx Express and FedEx Ground, 11.3 million packages will move through FedEx networks on that day.
“As an engine of the global economy, FedEx relies on the incredible dedication of our global workforce of more than 280,000 FedEx team members to deliver the holidays for our customers,” said Frederick W. Smith, chairman, president and CEO of FedEx Corp. “The continued growth of FedEx is a testament to the commitment of our people, to the unprecedented access we give our customers and to the reliability of our unmatched global networks.”
The award-winning fedex.com Web site is expected to break records as well this holiday season, processing an average of almost 6.5 million online tracking requests per day during the peak month of December. On average, fedex.com processes 3.5 million online tracking requests per day. On the highest single day in December, FedEx expects 8 million online tracking requests.
“While overall economic growth has slowed, there are several indicators for a healthy holiday season,” Smith continued. “Consumer spending remains steady and e-commerce will continue to drive holiday spending while sales of luxury goods and electronics should remain strong.”
Online sales are projected to be the best-performing retail channel during the holidays, according to TNS Retail Forward. The firm expects online global retail sales to approach $42 billion in the fourth quarter of 2007 compared with $35 billion last holiday season, a year-over-year increase of 18.5 percent.
The National Retail Federation predicts that holiday sales will continue to rise, although sales are projected to be the slowest since 2002 due to broader economic conditions. Holiday spending is projected to increase to $474.5 billion, a 4 percent rise over 2006.
“What is most encouraging is that global growth continues at a solid pace, especially in China and India. In today’s dynamic and wired environment, FedEx is the key in providing our customers access to this growing global marketplace,” said Smith. “Through continuous innovation, FedEx is able to connect our customers – both large and small – to 220 countries and territories this holiday season and beyond.”
For more information regarding FedEx during the peak holiday season, please visit http://news.fedex.com.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $36 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 280,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit http://news.fedex.com.
Certain statements in this press release may be considered “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to future events and financial performance. These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated (expressed or implied) by such forward-looking statements, because of, among other things, economic conditions in the global markets in which we operate, the impact of any international conflicts or terrorist activities, disruptions to the Internet or our technology infrastructure, the impact of changes in fuel prices and foreign currency exchange rates and adverse weather conditions or natural disasters, as well as the other risks and uncertainties you can find in FedEx’s and its subsidiaries’ press releases and SEC filings, including the risk factors in FedEx’s most recent annual report on Form 10-K, as updated by FedEx’s quarterly reports on Form 10-Q.