Both the U.S. Postal Service (USPS) and United Parcel Service (UPS) have each reported total revenue growth was close to flat in their respective fiscal quarters, which ended June 30.
USPS revenue grew 1% while UPS’ dipped by about the same amount. Inversely, UPS package volume increased while USPS’ declined.
“We are making solid progress in generating a sustained revenue growth trajectory in our mailing and shipping businesses, which is validation of the product and pricing strategies and network capabilities enabled by our Delivering for America plan,” said Louis DeJoy, U.S. postmaster general, in a statement about USPS revenue.
UPS and USPS provide the most shipping carrier services to retailers in the Top 2000. The database ranks North America’s largest ecommerce retailers by annual web sales.
Earlier this year, USPS selected UPS for its new air cargo contract. FedEx previously held that contract for more than 20 years. The current deal between USPS and FedEx expires Sept. 29, 2024. The USPS and UPS contract takes effect the following day, covering First-Class Mail, Priority Mail Express and Priority Mail.