Delivery companies such as UPS and FedEx have seen demand normalize following a boom during the pandemic, when home-bound consumers were forced to shop...
- United Parcel Service reported a decline in first-quarter profit on Tuesday, as margins came under pressure from subdued demand for small- package delivery and higher costs tied to a new labor contract with the Teamsters union.
UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment.UPS is absorbing 46% of the wage and benefit costs of the new five-year contract in 2024, and has said it does not expect business conditions to improve until the second half of the year.
The world's biggest package delivery firm by market capitalization posted an adjusted profit of $1.43 per share for the quarter, compared with $2.20 per share a year ago.Red Lobster is seeking advice from a law firm on whether to file for Chapter 11 bankruptcy following a difficult few years for the chain.
UPS And Fedex Package Delivery Teamsters Union Operating Margin
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