FedEx sees 11 percent rise in Cyber Monday shipments

Reuters

Oct 23 (Reuters) - FedEx Corp expects 11 percentgrowth in shipments on Cyber Monday as retailers ship more goodsduring the holiday shopping season using its ground andSmartPost services, the company said.

Cyber Monday is the Monday after Thanksgiving when employeesreturn to offices and purchase items with their computers atwork. The holiday shopping season is the biggest selling period for retailers. When customers buy online, retailers use courierservices like FedEx and United Parcel Service to shipthem.

The National Retail Federation's Shop.org division forecast a13 percent to 15 percent increase in online holiday sales forthe year, which would amount to as much as $82 billion. FedExsaid categories like consumer electronics, apparel and luxurygoods will be among the most shipped items, apart frome-commerce purchases.

FedEx said it expects its busiest day ever on Dec. 2, whichis Cyber Monday this year and expects to move more than 22million shipments across the world. During that whole week,FedEx expects move more than 85 million shipments, a rise of 13percent over last year.

Shipment forecasts from companies like FedEx are considereda barometer of broader economic health because of the volume ofgoods they move.

Memphis, Tennessee-based FedEx said the impact of thevolumes were included in the company's earnings forecast. InSeptember, the company said it expects earnings to grow 7percent to 13 percent over last year.

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