![]() The Postal Service reported that revenue from shipping and packages, now the largest segment of its business by revenue, edged up 1% to $31.6 billion, even as the volume fell by 2%. It also sent printing prices surging, which significantly reduced the amount of junk mail marketers sent via the mail. ![]() Postmaster General Louis DeJoy blamed the loss on inflation raising costs for its operations. Its results are particularly disappointing because it received a bump in its revenue earlier this year when shippers shifted package volume away from UPS because of the threat of a strike there. The Postal Service had projected it would break even in the fiscal year that ended September 30, on its way to annual profits this year and going forward. ![]() The US Postal Service lost $6.5 billion in its just-completed fiscal year, delivering a blow to the service’s hopes of a financial turnaround. CNN reports the US Postal Service lost $6.5 billion last year.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |