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UPS says holiday season hits record
Returns to generate fifth straight annual high
Reuters
United Parcel Service said on Wednesday the expansion of online shopping is expected to send volumes of returned packages to a record following this year's holiday shipping season.
Atlanta-based UPS, the world's largest package delivery company, said it handled more than one million returns to retailers daily in December, a pace expected to last into early January 2018.
UPS said 1.4 million returns are expected on Jan. 3, a fifth-consecutive annual record, up eight percent from the pervious year.
FedEx Corp. CEO Fred Smith, meanwhile, said Wednesday his company experienced another record-breaking holiday shipping season, but declined to provide specifics or data.
FILE PHOTO: A woman walks past a sign bearing the logo of United Parcel Service (UPS) at a job fair in Chicago, Illinois, October 18, 2014. REUTERS/Jim Young
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