Revenue growth is priority as organization bleeds billions of dollars
The U.S. Postal Service on Friday requested permission from the Postal Regulatory Commission to raise parcel shipping rates next year as it looks for more revenue amid continuing financial struggles.
The quasi-public company reported a $9 billion loss and a $2.8 billion adjusted operating loss for the fiscal year ended Sept. 30.
The Postal Service said it intends to raise prices 6.6% for Priority Mail service, 5.1% for Priority Mail Express service, 7.8% for USPS Ground Advantage and 6% for Parcel Select. Price adjustments, which the agency says are made based on market conditions, would take effect on Jan. 18. The agency adjusts prices based on market conditions.
Priority Express provides one-to-three day service, with a moneyback guarantee, compared to two-to-three day service for Priority Mail.
Again? There won’t be many Christmas cards sent out this year and even less next year.