Postal Service’s 3Q Loss Narrows

The U.S. Postal Service reported a $740 million loss for its fiscal third quarter, compared with a $5.2 billion loss in the same quarter last year, Bloomberg News reported.

The service attributed the loss for the quarter ended June 30 to a continued decline in mail volume, which dropped 1.1% in the third quarter compared with a year earlier, Bloomberg reported.

Its loss narrowed as the service consolidated mail processing plants and delivery routes but said it will lose $6 billion this year, Bloomberg reported.

The Associated Press reported the service is considering delivering alcoholic beverages, which has the potential to raise as much as $50 million a year, as it considers ways to increase revenue.