FedEx expects 12% increase in holiday shipments

FedEx says a big boost in online shopping will propel its business between Black Friday and Christmas Eve at least 12.4% above 2014 levels.



FedEx expects the holiday period to include three shipment volume spikes: Cyber Monday and the first two Mondays in December.



The company said it was adding 55,000 employees for the holidays to handle the increased demand.



"Each year we face a challenge that's greater and that's driven by e-commerce," Patrick Fitzgerald, FedEx senior VP for integrated marketing and communications told Reuters. "We've learned that planning and preparation is key."



UPS will release its holiday forecast on Tuesday, according to the Associated Press.



The National Retail Federation has predicted retail sales in November and December will increase 3.7% to $630.5 billion, after a 4.1% increase last year. The NRF said online retail sales could increase up to 8%, to as much as $105 billion.