FedEx forecasts record holiday shipments

  @CNNMoney October 22, 2012: 12:51 PM ET
fedex holiday deliveries

FedEx is forecasting a 13% increase in the shipments it handles this holiday season, largely due to a jump in online spending.

The forecast of 280 million shipments would be a record number of packages for the Memphis-based delivery company. FedEx expects to hire 20,000 seasonal workers to help with the holiday surge, about the same number it hired last year. The company has about 300,000 permanent workers worldwide.

In September, FedEx cut its fiscal year earnings guidance, saying slow global growth was driving customers away from the more expensive overnight services.

FedEx's (FDX, Fortune 500) forecast for shipment growth is stronger than the National Retail Federation's estimate of a 4.1% increase in U.S. consumers' spending this holiday season.

Related: Holiday shopping deals

But FedEx's anticipated rise in packages is slightly less than the 16.8% increase in online shopping forecasted by research firm eMarketer.

Black Friday survival guide

FedEx rival United Parcel Service (UPS, Fortune 500) has an edge with delivery contracts for some major online retailers, including (AMZN, Fortune 500), but has yet to publish its holiday shipment forecast. It is due to report third-quarter earnings Tuesday, when it may give some guidance for the current quarter.

The U.S. Postal Service said it expects to handle 17.9 billion cards, letters and packages between Thanksgiving and New Year's Eve, but it could not provide a comparison to last year. To top of page

Join the Conversation
CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.