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The company saw a $ 52 million, or 67.7%, increase in pre -tax revenue loss for the parcels business, compared to the same period in 2021.
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This decrease was mainly related to lower parcel volumes compared to the first quarter of 2021, when many retail stores closed due to COVID-19.
In the first quarter of 2022, the parcels line of business revenue dropped $ 92 million, or 9.6%, while it dropped 23 million items, or 23.1%, from the same period last year.
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Volumes reached very high levels in early 2021 due to online shopping, amid the pandemic, and returning items after the holiday.
Issues in the global supply chain will also hurt Parcels ’volume and revenue in the first quarter of 2022, the Canada Post reports.
Source: Radio-Canada
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