UPS goes back to business in $20 billion automation push

Discussion in 'The Latest UPS Headlines' started by cheryl, Sep 13, 2018.

  1. cheryl

    cheryl I started this. Staff Member

    UPS goes back to business in $20 billion automation push - Reuters

    United Parcel Service Inc is bolstering services to boost shipments between businesses as part of a $20 billion push to automate its network and offset lower-profit home deliveries from Amazon.com and other online retailers.

    The world’s biggest package delivery firm’s embrace of expensive “last-mile” home shipments of everything from clothes to car tires has squeezed margins as it competes with FedEx Corp, which takes fewer of those pricey deliveries.

    UPS shares fell 1.7 percent to $121.21 in midday trade after executives on Thursday boosted long-term earnings targets but stopped short of saying they would take fewer home deliveries.