USPS' losses mount in February

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Washington, D.C.—The U.S. Postal Service reported a loss of $1.1 billion for the month of February, the fifth month of its fiscal year, raising its year-to-date losses to $5.6 billion. While overall February revenue of $5.2 billion was up 3.0% from the same period last year, total mail volume fell 1.8%, to 12.5 billion pieces. First-class mail, which accounts for about 50% of USPS sales, also continued to decline, with revenue down 0.5 %, to $2.5 billion, for the month and volume off 3.2%. Standard mail, used most often for commercial direct mail, and contributing a 25.0% of all USPS revenue, saw sales fall 3.8%, to $1.3 billion, for the month, with volume down 2.7%. Bright spots included the mailing of periodicals, which rose 1.6% in volume and 2.6% in revenue, to $146.3 million, for the month; and total shipping services, with volume up 98.3% with a 29.2% boost in revenue, to $913.5 million.
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