United Parcel Service, Inc. Prepares For Increased Online Orders This Holiday Season
The 2013 holiday season proved to be troublesome for shipping giant United Parcel Service, Inc. (NYSE: UPS) due to a swell in online orders, resulting in prolonged delays of package shipments.
In a report published on Wednesday, The Street's Brian Sozzi outlined how UPS is preparing for the upcoming holiday season in order to prevent a repeat of last year's performance.
- UPS plans to hire 95,000 seasonal employees, almost double the amount of seasonal hires from last year.
- UPS has built 50 new hubs to sort packages, boosting network capacity by 5 percent.
- UPS has obtained thousands of new or leased vehicles, trailers, aircraft and package-loading aids have been added.
- UPS has increased the amount of people hired to place packages on trucks by 10 percent.
Sozzi wrote that last year on Cyber Monday alone, consumers ordered more than 36.8 million items worldwide of which half were ordered from mobile devices. As a result, shipping companies must adapt to accordingly in order to prepare for increases in online shopping habits.
Latest Ratings for UPS
|Feb 2017||Aegis Capital||Upgrades||Hold||Buy|
|Feb 2017||BMO Capital||Downgrades||Outperform||Market Perform|
|Dec 2016||Aegis Capital||Initiates Coverage On||Neutral|
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