More retailer forecasts will prevent UPS peak shopping season bottlenecks: CEO [Reuters]
FedEx Corporation (FDX)
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Source: Reuters
More retailer forecasts will prevent UPS peak shopping season bottlenecks: CEO | Reuters 4 Min Read (Reuters) - Getting more of its major retailer customers to share data on their holiday shipping needs will prevent a repeat of last year’s parcel delivery bottleneck, United Parcel Service Inc’s ( UPS.N ) Chief Executive told Reuters. The world’s largest package delivery company delivered a record 762 million packages, exceeding forecasts, during the peak U.S. holiday shopping season which runs from around the Thanksgiving Day holiday in late November through to Christmas in late December. But around “Cyber Monday”, the first Monday after the annual Thursday Thanksgiving holiday in late November, those extra packages also exceeded its ability to handle them, adding about $125 million in fourth-quarter operating costs, UPS CEO David Abney said. “Our forecasting during peak was extremely accurate,” Abney told Reuters after the company reported quarterly results on Thursday. “It was tha
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