At-home shopping leaps, driving UPS, Fedex demand - Reuters
Costly fuel and harsh weather are leading more people to shop from home this year -- good news for FedEx (FDX.N) and United Parcel Service (UPS.N) as online sales jumped by double digits in the first quarter.
"It is a big deal. It's a growing portion of the business," for UPS and FedEx, said Jason Seidl, Dahlman Rose & Co. transportation analyst. "They've made sure that they can integrate themselves into a global e-commerce supply chain."
E-commerce "continues to be one of the long-term growth drivers in our industry," UPS Chief Financial Officer Kurt Kuehn said in an interview after the company released first-quarter results.
Costly fuel and harsh weather are leading more people to shop from home this year -- good news for FedEx (FDX.N) and United Parcel Service (UPS.N) as online sales jumped by double digits in the first quarter.
"It is a big deal. It's a growing portion of the business," for UPS and FedEx, said Jason Seidl, Dahlman Rose & Co. transportation analyst. "They've made sure that they can integrate themselves into a global e-commerce supply chain."
E-commerce "continues to be one of the long-term growth drivers in our industry," UPS Chief Financial Officer Kurt Kuehn said in an interview after the company released first-quarter results.
