UPS Results Hurt By Rapid Shift to E-Commerce

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United Parcel Service Inc. was stung by the rapid shift to e-commerce this past holiday season, as higher costs from a glut of package deliveries hurt its bottom line.

The Atlanta-based carrier posted higher sales in its fourth quarter, but profit margins fell as its home deliveries outpaced its more profitable business-to-business segment. UPS pledged to spend $4 billion this year, a 33% increase from 2016, as it tries to keep up…

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