SaltWire's Atlantic regional weather forecast for October 26, 2023 | SaltWire - United Parcel Service on Thursday said it is spending more than $1 billion this quarter to buy two companies it hopes will bolster profit and volumes amid bare-knuckled market share battles with delivery rivals like FedEx.
"UPS has a high-cost network that needs to be supported by high-margin business," said Alan Amling, a former UPS executive. UPS said its e-commerce returns business has grown 25% since 2020. With the Happy Returns deal, it is putting"the pedal to the metal," CEO Carol Tome said on a call on Thursday to discuss quarterly results.
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