UPS suffered larger-than-expected shipment losses due to labor concerns

News Snapshot:

UPS Inc. said it experienced greater-than-expected shipment losses due to concerns about a possible Teamsters union work stoppage, with about 1 million daily packages being diverted to competitors and 200,000 additional daily parcels not entering the system because sales fell through due to shipper uncertainty. Carol B. Tomé, UPS CEO, told analysts Tuesday that she expects by year’s end to win back all of the business and to close deals on lost sales, though the company’s efforts will take some time. “It’s all hands on deck” to recover diverted volumes and push about $7 billion in potential sales through the...