UPS Inc. and FedEx Corp., riding high from record package deliveries amid the coronavirus pandemic, are moving on to their next objective: showing investors they can boost profit in the approaching onslaught of the holidays. FedEx followed UPS and the U.S. Postal Service this week in setting aggressive peak-season fees, signaling increased pricing power with retailers ahead of what’s expected to be an unprecedented year-end surge of packages. The couriers also will compete with Amazon.com Inc. to hire hundreds of thousands of seasonal drivers as the e-commerce giant ramps up its distribution network. The holiday rush sets up an exam of sorts for UPS and FedEx, which are winning over Wall Street after putting billions of dollars into automated sorting centers, air freighters and routing software.
To read full article, please click here