UPS Cuts Full-Year Forecast Due to Lower Demand

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UPS cut its annual revenue forecast due to lower e commerce delivery demand as it tries to win back customers lost during labor talks. The company now anticipates full year sales between $91.3 billion and $92.3 billion compared with previous expectations of 93 billion dollars. Ups blamed the weakness on a downturn in the freight industry and said it's focused on moving more profitable packages for health care and other businesses. Reuters reported earlier this month that UPS and its rivals have resorted to discounts and other incentives to keep and gain market share.