The United States Postal Service announced yesterday that it is slimming down its delivery schedule, potentially opening up new market share for UPS (NYSE: UPS ) and FedEx(NYSE: FDX ) to put their stamps on. Here’s what you need to know:
The detail
In a press release issued yesterday, the USPS announced that, starting in August, it will no longer offer Saturday mail delivery. The move comes as part of a larger movement to cut costs at USPS, which has been in dire financial straits since 2006.
Weekday-only deliveries are not a new idea, but what’s more surprising about the announcement is what it doesn’t include: packages. According to the USPS, package delivery demand is soaring even as mail deliveries crumble.
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