Losses more than doubled at the US Postal Service in the first three months of the year to $1.3 billion. But that’s not Amazon’s fault. President Donald Trump has frequently complained that Amazon (AMZN) takes advantage of the post office, which has a contract to help deliver many of the online shopping giant’s packages. Last month he created a federal task force to look into the Postal Service’s finances.
The agency said Friday that it has been hurt by the ongoing decline in traditional mail, coupled with increased costs for retiree benefits. Revenue from first class mail and junk mail, which the Postal Service refers to as “marketing mail,” fell by $181 million, or a 1.4%. The Postal Service’s package business, by contrast, is the one segment experiencing strong and steady growth. Its sales grew by $445 million.