Shorter shopping season hits UPS in pocketbook
United Parcel Service expects full year earnings of 4.57 dollars per share for 2013, down from 4.65 to 4.85 expected earlier, with a fourth quarter of 1.25 per share. The carrier delivered a record 31 million places on December 23 but the peak day came six days later and rose 7.5 percent versus plan. Analysts say UPS misforecast holiday demand as cold weather and fewer days between Thanksgiving and Christmas shifted shopping later. Shipment volume and forecasts for UPS and FedEx remain a key barometer for the economy amid retail shifts away from express shipping.
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United Parcel Service
UPS Worldport
All Points International
Louisville
UPS
Thomson Reuters
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Jim Corridore
Courier Company
FedEx
Wall Street
Retail firm to close Soy Basics candle plant in New Hampton
S.C. Johnson will close the 115,000 square foot Soy Basics plant in New Hampton on July 1 after six years under Johnson ownership. The 57 employees will receive severance pay, training help, and health benefits through July. The plant, a large U.S. soy wax candle producer, cites weak specialty candle sales since 2008 crisis.
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Soy Basics
New Hampton
S.C. Johnson & Co
Iawa
Tipton
Kelly Semrau
S.C. Johnson
U.S
Semrau
United
Canada
Racine
Wis
Great Plays
New Hampton United Fund
Fourth Quarter Industrial Output Rises as Housing Starts Fall
December manufacturing production rose 0.4 percent and overall industrial output gained 0.3 percent, signaling a brightening economy. Q4 output jumped 6.8 percent, the strongest since 2010, while housing starts fell 9.8 percent to 999,000 annual rate amid cold weather and prior high levels.
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Reuters
Commerce Department
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