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<blockquote data-quote="my2cents" data-source="post: 54638"><p><strong>UPS Cuts 4th-Quarter Forecast, Citing Volume Slowdown in U.S.</strong> </p><p> </p><p>By NICOLE HARRIS </p><p>Staff Reporter of THE WALL STREET JOURNAL </p><p>January 12, 2005; Page A2 </p><p> </p><p>United Parcel Service Inc. lowered its fourth-quarter earnings forecast, blaming higher costs and an "unexpected, significant" slowdown in domestic package volume during the week after Christmas. </p><p> </p><p>In an announcement after the markets closed yesterday, the package-delivery giant said that prior to the last week of the year, package volume had been growing 2.5% for the quarter. But the drop-off in packages between Christmas and New Year's slowed domestic package-volume growth to an increase of just 1.6% for the quarter. </p><p> </p><p><\excerpt> </p><p> </p><p>Norman Black, a UPS spokesman, said the company hadn't yet determined the cause of the fall-off in volume during the last week of the year. "The only thing that is clear to us is we got hit by an unexpected double whammy," he said, referring to higher-than-expected costs due to winter storms in the Midwest and the drop-off in volume between Christmas and New Year's that was roughly 20% worse than what the company projected. </p><p> </p><p><\snip> </p><p> </p><p>One week of lower than expected volume adds up to a near 1% drop in quarterly growth? No wonder the stock price has taken a dive. Wall Street obviously didn't buy it and to be honest, I don't either.</p></blockquote><p></p>
[QUOTE="my2cents, post: 54638"] [b]UPS Cuts 4th-Quarter Forecast, Citing Volume Slowdown in U.S.[/b] By NICOLE HARRIS Staff Reporter of THE WALL STREET JOURNAL January 12, 2005; Page A2 United Parcel Service Inc. lowered its fourth-quarter earnings forecast, blaming higher costs and an "unexpected, significant" slowdown in domestic package volume during the week after Christmas. In an announcement after the markets closed yesterday, the package-delivery giant said that prior to the last week of the year, package volume had been growing 2.5% for the quarter. But the drop-off in packages between Christmas and New Year's slowed domestic package-volume growth to an increase of just 1.6% for the quarter. <\excerpt> Norman Black, a UPS spokesman, said the company hadn't yet determined the cause of the fall-off in volume during the last week of the year. "The only thing that is clear to us is we got hit by an unexpected double whammy," he said, referring to higher-than-expected costs due to winter storms in the Midwest and the drop-off in volume between Christmas and New Year's that was roughly 20% worse than what the company projected. <\snip> One week of lower than expected volume adds up to a near 1% drop in quarterly growth? No wonder the stock price has taken a dive. Wall Street obviously didn't buy it and to be honest, I don't either. [/QUOTE]
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