Canada Post Posts Profit
The headline I caught reads, "The crown corporation reported third-quarter earnings on Wednesday that showed the post office segment recorded a before-tax profit of $13 million, compared to a $129 million loss in the same period a year earlier."
This result is in part from an increase in revenue from parcel services. Canada Post says it had anticipated moving 800,000 parcels a day during the holiday season. The actual number of parcels shipped increased by 3 million in the third quarter with revenue up from the previous year by 8 per cent.
I know that the increased revenue comes from other controversial changes like increased prices, the move to community mailboxes and lower employee benefit costs. However, I think we all know and can agree that the crown corporation could not continue to operate with a deficit of $129 million. Something had to change.
Postage cost is just one challenge of selling on eBay. The cost of shipping is much more expensive than the cost of shipping in the U.S. It definitely puts Canadian sellers at a big disadvantage.
I look to the new year to see what the next changes from Canada Post will be. There is always a price increase so that will not be a surprise to me, but I do wonder what else we have to look forward to. Personally, I would like to see tracking on all of Canada Post's parcel services, a feature that many of my American customers expect to see when I ship their parcels.
Treasures By Brenda
You never know what treasures
I might have in store for you!
Facts and figures from The Star business section.