Speaking to analysts Oct. 24 as the company announced third quarter results, Myron Gray, president of U.S. Operations for UPS (NYSE: UPS), said the company has been preparing for this year's holiday shipping rush -- since December 26th last year.
"We've made significant investments in new technology as well as both permanent and temporary capacity," he said. "The improvements we're making will produce benefits for UPS far beyond this year's peak season. Our people have been working hard to get everything ready for the holiday volume surge that typically starts during Thanksgiving week."
Last year, UPS was bedeviled by an unexpected surge in packages just before Christmas, causing many to be delivered after the holiday. The company responded by investing an extra $500 million
In September, UPS said it expects to hire between 90,000 - 95,000 seasonal employees this year to support the anticipated holiday surge in package deliveries. The company said it is taking many other steps to ensure a smooth holiday season.
The National Retail Federation has predicted that online holiday sales will grow 8 to 11 percent this year.
UPS reported last week that its third-quarter profit jumped nearly 11 percent and it expects holiday shipments to climb 11 percent.
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