United Parcel Service, Inc. (UPS) launched UPS My Choice and the UPS Access Point network in Canada, bringing seamless service to offer busy online shoppers and global retailers new personalized solutions to manage residential package deliveries.
UPS My Choice, which provides customizable online and mobile services and was introduced in the U.S. in 2011, will be available to consumers in 15 additional countries, apart from Canada.
The UPS Access Point, which is widely available in Europe, is expected to cover all U.S. major urban markets during 2015. In Canada, there are over 700 UPS Access Point locations. The company plans to offer UPS My Choice and UPS Access Point combined service in countries like Poland, Italy and Mexico by the end of this month.
United Parcel Service has undertaken a number of initiatives to improve its performance levels. The company has introduced a route optimization software called ORION, which will offer On-Road Integrated Optimization and Navigation. The company plans to have 45% of the driver route using the technology by the end of 2014, optimizing delivery routes, saving fuel and reducing carbon dioxide emissions. Further, it is planning to implement Hub Automation to enhance the ability to recover and maintain services during natural calamities.
In 2013, United Parcel Service had announced the expansion of the UPS Worldwide Expedited service to cover more than 220 countries, up from the then 145. UPS Worldwide Expedited includes air service for international shipments and provides delivery within 2–5 working days. This provides cost effective freight solutions to United Parcel Service’s customers across continents. In addition, to enhance growth of its alternative vehicle fleet, management aims to buy nearly 700 liquefied natural gas (LNG) vehicles and construct four refueling stations by 2014-end. We believe the introduction of new products and services will add opportunities for further revenue generation.
UPS currently has a Zacks Rank #3 (Hold).
Key Picks in the Sector
Radiant Logistics, Inc. (RLGT), Atlas Air Worldwide Holdings, Inc. (AAWW) and FedEx Corporation (FDX) are three Zacks Rank #2 (Buy) stocks in this sector that are worth considering.
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