UPS Adds 'Peak' Surcharge, Coronavirus Fueled Spike
Video Credit: Wochit - Duration: 00:33s - Published
UPS Adds 'Peak' Surcharge, Coronavirus Fueled Spike
LOS ANGELES (Reuters) - United Parcel Service Inc (UPS.N) on May 31 will slap surcharges on U.S. e-commerce companies that have flooded its delivery network with shipments of everything from packaged food to patio furniture since the coronavirus took hold in March.
This round follows stay-at-home orders to fight the spread of the novel coronavirus.
That public health effort shifted shopping online and resulted in what many are calling a “second Christmas” for UPS, FedEx Corp (FDX.N) and upcoming delivery rival Amazon.com Inc (AMZN.O).
In April, UPS said home deliveries accounted for roughly 70% of shipments versus around 50% previously.
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