International Paper Says Online Retailers' Box Demand Up
International Paper Co. (IP), the world’s largest maker of cardboard shipping containers, said “noticeably” improved third-quarter sales of boxes to U.S. online retailers point to rising expectations for holiday spending.
“Sales to our online retail customers are up and that’s a pretty good indicator of their optimism going into the holiday season,” John Faraci, chairman and chief executive officer of the Memphis, Tennessee-based company, said today in a phone interview.
“Those retailers are looking at consumer spending and thinking it’s going to be up relative to last year and putting inventory in the pipeline,” he said.
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