UPS CEO David Abney told FOX Business that he is expecting a surge in volume during the holiday shopping season.
Continue Reading Below
“We do believe it's going to be a busy holiday season,” he told Maria Bartiromo and he added that there will be four less workdays between Thanksgiving and Christmas this year, which means there are fewer days for promotions.
|UPS||UNITED PARCEL SERVICE INC.||158.90||-4.57||-2.80%|
Abney said the shipping giant is gearing up by adding 5 million additional square feet in buildings which would allow them to pump out 400,000 packages an hour. They also added 11 aircraft, he said, which helps with the shift from second day to next day delivery.
“We needed the additional lift,” Abney said.