UPS expects record number of gift returns on Tuesday

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Returns of online holiday gifts to hit record - Reuters

With a Christmas season that has seen record e-commerce sales coming to a close, returns should hit an all-time high on Tuesday for United Parcel Service (UPS.N).

The delivery company expects to handle more than 550,000 returns on Tuesday, a record, and up almost 8 percent from a year earlier. Several other days during the first week of 2012 will also top half a million returns, UPS said.

"This will definitely be the busiest year for returns," Ken Burkeen, marketing director of the retail and consumer products division at UPS, told Reuters.
 
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