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.
To contact the reporter on this story: Christopher Donville in Vancouver at firstname.lastname@example.org
To contact the editor responsible for this story: Steven Frank at email@example.com