1. UPS struggles to ship record gift volume
It's thanks to the last-minute shoppers that United Parcel Service (NYSE:UPS) finds itself the scrooge that ruined Christmas for many American families. Last-minute delivery orders for Christmas presents were so insanely high this year that many packages were not delivered by Christmas day, as UPS promised. The official number of affected packages is unclear, but you can see for yourself the victims of this holiday tragedy on Twitter: #UPSfail.
It's actually positive news for UPS. Online orders made on the last weekend before Christmas jumped 37% from last year. The more addicted we are with online shopping, the better the business outlook for Brown to deliver our goods. UPS stock crept up 0.2% Thursday.
UPS promised that you could order packages at 11PM Monday evening and, somehow, Santa would intercept it and place it under the tree for Christmas day Wednesday. They missed the precious Dec. 25th deadline for many packages, but they're scrambling to make good, and get gifts delivered ASAP. It's like Santa said, the best Christmas parties are the after parties.
It was a perfect storm that led to the glut of package shipments and delays for UPS and FedEx. Retailers offered big discounts this past weekend, creating a stampede of orders. Severe winter weather didn't help, either.
If you're wondering how your presents stack up to America's, see Amazon's top selling gifts from this holiday season.
3. Weekly Jobless Claims falls leading up to Holidays
- Natural Gas Report
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