The charges, which can be as high as $4 a package for air shipments to residences, are aimed at coping with a potential crush of volume during the upcoming holiday shopping season.
The fees will add up to higher costs for retailers and other sellers — which they can absorb or pass on to customers.
"UPS continues to provide essential service amid the ongoing coronavirus outbreak to support the needs of our customers," the memo said. "Our goal is to ensure businesses and customers are able to meet their shipping needs while demand has increased for shipping services." Shares of the company were up about 5% Friday morning. They reached a 52-week high of $153.32. They're up about 30% so far this year, bringing UPS' market cap to more than $132 billion., has also added surcharges to international shipments of packages and freight. Its higher charges began April 6, according to its website.that it increased fees "due to the various COVID-19 containment restrictions issued in countries around the world.
Many Americans have shopped online instead of at stores during the pandemic because of stay-at-home orders or the spread of. Retailers have increasingly relied on shipping services, such as UPS and FedEx, to get those purchases to customers' homes. That's led to a flood of packages, ranging from furniture and food to exercise equipment.
When consumers begin to buy gifts for family and friends later this year, the situation could worsen, especially if the country sees another surge in Covid-19 cases.
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