parcel shipping

UPS forecasts softer peak shipping season

UPS on Thursday reported positive revenue and profit growth in the third quarter, turning the corner on nearly two years of subpar performance. But the company also cautioned that macroeconomic conditions and more in-store shopping could dampen peak season shipping activity.

Full-year revenue guidance of $91 billion was down slightly, mostly related to the disposal of Coyote Logistics. The forecast suggests UPS (NYSE: UPS) doesn’t expect a surge of shipping activity during the current quarter,...

https://www.freightwaves.com/news/ups-forecasts-softer-peak-shipping-season

Teamsters can protest at Amazon air hub, federal court says

Members of the Teamsters union may picket outside Amazon’s national air cargo hub at Cincinnati/Northern Kentucky International Airport (CVG) without interference from local officials, a federal judge has ruled.

The Teamsters have ramped up efforts to organize Amazon.com (NASDAQ: AMZN) warehouse workers and drivers ever since securing a major contract win at UPS last summer. The union has spent the past three months trying to win the support of workers at Amazon’s primary air hub as their...

https://www.freightwaves.com/news/teamsters-can-protest-at-amazon-air-hub-federal-court-says

UPS domestic revenue slips as customers trade down to economy service

UPS’ domestic parcel volumes returned to growth in the second quarter for the first time since late 2021, but the company’s stock was down 13% late Tuesday as revenue and operating profit fell below analysts’ predictions and the parcel logistics company tightened full-year guidance.

UPS now projects 2024 revenue of $93 billion versus a previous forecast of up to $94.5 billion and capital expenditures of $4 billion, $500 million less than before.

It’s been a busy few weeks for UPS (NYSE: UPS). The...

https://www.freightwaves.com/news/ups-domestic-revenue-slips-as-customers-trade-down-to-economy-service

FedEx braces for 50% cut in Postal Service air contract

FedEx Corp. expects its air express unit will lose half of its business with the U.S. Postal Service when an existing contract expires, making more pilots expendable, FreightWaves has learned.

The Postal Service three years ago began shifting a large amount of volume from air to ground transportation to reduce red ink and become more competitive. Declining postal volumes have been a significant drag on FedEx Express’ recent performance, company officials publicly acknowledge.

Postal delivery at...

https://www.freightwaves.com/news/fedex-braces-for-50-cut-in-postal-service-air-contract

How parcel shippers are leveraging accurate SKU data to save millions

Parcel fulfillment is more technologically advanced than ever before. New solutions hit the market on a regular basis, and shippers have access to an endless array of tools promising to help them meet the growing demand of today’s consumers. 

Emerging technologies can help shippers grow their businesses. Before you consider investing, be sure to have rock-solid fundamentals in place. For modern shippers, the first step to improving profitability lies in understanding their own operations –...

https://www.freightwaves.com/news/how-parcel-shippers-are-leveraging-accurate-sku-data-to-save-millions

DHL Express gets local approval for California air hub

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DHL Express is a large step closer to establishing an air hub on the West Coast by mid-decade after...

https://www.freightwaves.com/news/dhl-express-gets-local-approval-for-california-air-hub

Selection nears for DHL Express’ US West Coast air hub

A mustard-yellow DHL plane loading cargo at an airport. View from behind the plane.

WASHINGTON — DHL Express expects to open a new aircraft ramp and package sortation center in Atlanta by mid-October and announce its first major West Coast air hub in January to keep up with growing cargo volumes, said Mike Parra, CEO of the Americas.

Construction of the regional hub at Atlanta’s Hartsfield-Jackson International Airport has been slowed by COVID impacts on laborers, permitting challenges and steel shortages, management previously said. The updated start date slipped an extra...

https://www.freightwaves.com/news/selection-nears-for-dhl-express-us-west-coast-air-hub

ShipHero raises $50M to expand e-comm fulfillment network

ShipHero, a New York-based e-commerce software and fulfillment provider, announced Thursday morning that it raised $50 million from Riverwood Capital. The deal values the company at $225 million post-money.

The investment represents the first institutional money ShipHero has taken on: The company scaled to a $30 million revenue run-rate on just $435,000 raised from friends and family years ago.

ShipHero has two primary lines of business: software-as-a-service (SaaS) and e-commerce fulfillment....

https://www.freightwaves.com/news/shiphero-raises-50m-to-expand-e-comm-fulfillment-network

Watchdog agency: USPS spending millions on idle trailers

The results of an audit into how the U.S. Postal Service (USPS) manages its leased trailer fleet found that millions of dollars are being wasted due to lax oversight, according to the agency’s watchdog group.

Specifically, the USPS Office of Inspector General (OIG) determined that the Postal Service spent on average $472,744 per month from January 2019 to March 2020 on idle trailers, costing USPS a total of $7.1 million, due to insufficient monitoring of the fleet by management.

“Management needs...

https://www.freightwaves.com/news/watchdog-agency-usps-spending-millions-on-idle-trailers