U.S. Postal Service * USA: Loss widens as higher costs offset revenue growth
* DC - Growth in shipping, package volume led to higher spending
--- The U.S. Postal Service reported a wider loss for the fiscal year ended Sept. 30 as growth in shipping and package volume boosted revenue but also led to higher spending... USPS has been competing for share in the growing market for package delivery spurred by an increase in e-commerce against shipping giants UPS and Federal Express, which also have been hit by higher costs... USPS said its total revenue improved by 3.8% to $71.43 billion. However, excluding a boost from a change in USPS’s accounting estimates for consumer usage of “forever” stamps, the growth was 2.3%...
(Photo by Ron Antonelli/Bloomberg News - The United States Postal Service reported a wider loss on Tuesday for the fiscal year ended Sept. 30 as growth in shipping and package volume boosted revenue but also led to higher spending) -- The WSJ, by TESS STYNES - Nov. 15, 2016