Like UPS before it, FedEx reported a blowout first quarter fueled by pandemic-era ecommerce demand, with revenue and profits exceeding estimates and average daily volume in its ground parcel network increasing by 31%. Executives said they are ready for a massive peak holiday season with personnel, facilities and technology.
FedEx’ Q4 top and bottom line fell short of expectations, the latter impacted by pension accounting adjustments and a settlement with California drivers.
As it continues to battle UPS, FedEx and DHL for a larger slice of the ecommerce shipping pie, the USPS has asked the PRC to keep its competitive Priority Mail rates unchanged for domestic delivery while raising Parcel Select – the primary last-mile option of the major carriers – by 8%.
Regional carrier OnTrac, announced a new service, DirectPost, which will enable it to provide next-day and two-day ecommerce shipping at postal rates.