Postal Ser­vice re­ports loss for 11th year in row

The Progress-Index - - BUSINESS -

The be­lea­guered U.S. Postal Ser­vice re­ported a fi­nan­cial loss Tues­day for the 11th straight year, cit­ing de­clin­ing mail vol­ume and costs of its pen­sion and health care obli­ga­tions even as it pre­dicted another strong hol­i­day sea­son of pack­age de­liv­er­ies.

It pleaded for more free­dom to raise stamp prices to help keep pace with con­sumer de­mand for ever-quicker de­liv­er­ies from on­line shop­ping.

With­out help, “our fi­nan­cial re­sults will con­tinue to de­te­ri­o­rate and likely at an ac­cel­er­ated rate,” said Post­mas­ter Gen­eral Me­gan J. Bren­nan.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.