Parcel delivery

US Postal Service volumes grow 50% in face of steep loss

The U.S. Postal Service reported a nearly 50% increase in shipping and package volume in the latest quarter as a result of a surge in e-commerce due to COVID-19, one of the only bright spots in another quarter marked by steep losses, the agency announced on August 7.

Shipping and package revenue increased in the agency’s fiscal third quarter by $2.9 billion, or 53.6%, compared with the same period last year, on a volume increase of 708 million pieces.

However, the net loss for the quarter was...

https://www.freightwaves.com/news/us-postal-service-volumes-grow-50-in-face-of-steep-loss

FM Logistic’s operating income up 20%; future guidance withheld

French trucks on break

French-based third-party logistics provider FM Logistic on Wednesday reported 21% year-over-year growth in earnings before interest and taxes (EBIT) for its fiscal year ended March 31.

Operating income of 42.5 million euros (U.S. $47.8 million) was the result of only modest revenue growth of 8.7% at 1.43 billion euros (U.S. $1.61 billion). Excluding foreign exchange rates, revenue increased 8% during the year. Management said the increase came from “entirely organic” growth.

“FM Logistic again...

https://www.freightwaves.com/news/fm-logistics-operating-income-up-20-future-guidance-withheld

Pandemic highlights how tech improvements propel companies forward

a pack of toilet paper on an otherwise empty store shelf

The coronavirus pandemic has pummeled the world economy, sparked record unemployment claims, stolen thousands of human lives and disrupted the way people live and work. It has also thrown the logistics industry for a loop, putting unprecedented pressure on essential goods suppliers and halting nonessential businesses in their tracks.

Now, states have loosened lockdowns, businesses have reopened and volume has come back into the market. As people try to create something akin to a new normal,...

https://s29755.pcdn.co/news/pandemic-highlights-how-tech-improvements-propel-companies-forward

FedEx eases up on firewall separating air and ground units

FedEx Great Quarter Guys

For more than 20 years, FedEx Corp. (NYSE:FDX) has operated its U.S. air and ground networks as separate entities. On February 7, the firewall cracked, albeit modestly.

The Memphis-based giant said that its FedEx Express unit, which handles time-definite shipments typically moving by air, will contract with its FedEx Ground unit to deliver residential parcels as long as they meet specific operating criteria. The service launched in Greensboro, North Carolina, with additional U.S. markets...

https://s29755.pcdn.co/news/fedex-eases-up-on-firewall-separating-air-and-ground-units

Former XPO executive tapped to head U.S. Postal Service

The U.S. Postal Service (USPS) board unanimously selected Louis DeJoy to serve as its 75th Postmaster General, a private-sector pick that feeds speculation that the world’s largest postal organization could be headed for privatization.

DeJoy, a former executive at XPO Logistics [NYSE: XPO], is expected to begin serving in the role on June 15. He replaces Megan Brennan, who announced her plans to retire in October 2019. DeJoy will be the first person from outside USPS to lead the organization...

https://s29755.pcdn.co/news/former-xpo-executive-tapped-to-head-u-s-postal-service

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