United Parcel Service Inc.’s close work with Amazon.com Inc. is paying off for the package carrier. The package carrier’s shipping volume and operating profit jumped sharply in the fourth quarter, the WSJ’s Paul Ziobro reports, as UPS gets cozier than ever with the largest online retailer in the U.S. while rival FedEx Corp. focuses on retailers competing with the e-commerce behemoth. UPS Chief Executive David Abney says Amazon now makes up 11.6% of the company’s annual revenue, but that other major retailers all are shipping more with the carrier. The company’s pricier air express services grew at a double-digit pace during 2019, including a 25.9% year-over-year gain in next-day air shipments in the fourth quarter. FedEx’s overnight air shipments have declined in three of the past four quarters and SJ Consulting says UPS now holds a bigger share of the next-day market than its Memphis-based rival.

Excerpt from WSJ
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