“Better, not bigger” is providing bigger returns for United Parcel Service. The package carrier is seeing operating margins and revenue grow even as volumes slip, the WSJ’s Will Feuer reports, as the company focuses less on adding packages and more on business with profitable customers. The result in the first quarter was a 17.6% jump in operating profit to $3.3 billion and a 6% increase in revenue even though it handled 3.6% fewer shipments daily. Pricing provided a big boost, with average revenue per piece up 9% over last year. The improvement in yield was also in part because the mix of business is breaking UPS’s way. Deliveries to homes fell 7.4% in the quarter from a year ago while business-to-business volume was up 3.6%. Residential deliveries are more expensive for carriers to handle and a return to more B2B shipments will prove profitable in the long run. 

The supply chain focus on home goods is dimming as the impact of the pandemic fades. Makers of household items like mattresses and appliances are reporting falling demand, signaling a reversal in the manufacture and delivery of goods that has been heavily focused on homebound consumers. Makers of mattresses are cutting costs and delaying product launches amid waning appetite for big-ticket items, the WSJ’s Kristin Broughton reports. That may signal a more sustained drop in spending on durable discretionary items. Along with the surge in e-commerce, greater spending on household goods has been a hallmark of the pandemic and has sent transportation companies scrambling to meet the demand. U.S. consumers spent about $298.5 billion on furniture and furnishings in 2021, up 22% from 2020 and 31% from 2019. But appliance maker Whirlpool said this week that sales of dishwashers and refrigerators are also slowing while costs are rising.

General Electric is providing a warning for the industrial sector. The conglomerate warned that its business is being pressured by supply-chain disruptions this year, the WSJ’s Thomas Gryta reports, despite strong quarterly growth at its jet-engine unit as commercial air traffic recovers. GE full-year results are on track to come in at the low end of predictions it issued in January. The manufacturer says that’s the result of disruptions in the flow of goods, along with rising raw-material and freight costs. GE says that collectively, supply chain issues, Russia’s invasion of Ukraine and China’s Covid-19 lockdown cut quarterly revenue growth by 6 percentage points. That’s an ominous sign for industrial operators around the globe. Hopes for a rebound this year had grown as the impact of the pandemic has faded in Western countries. But rising commodities costs and the prospect of greater disruptions in China are changing the economic outlook.

• GE took a $200 million charge after suspending most of its Russian operations. (WSJ)

Here are recent developments following Russia’s invasion of Ukraine:

Russia’s foreign minister says the West is engaged in a proxy war with his country that could escalate into a world war with nuclear weapons. (WSJ)

The World Bank is forecasting sharp increases in global fuel and food prices caused by Russia’s invasion of Ukraine. (WSJ)

The U.K. barred some technology exports to Russia and cut tariffs on all goods from Ukraine. (WSJ)

Poland’s state-owned energy group is bracing for a halt in Russian gas deliveries starting today. (Financial Times)

BMW and Audi suspended shipments of cars by rail from Germany to China due to the Ukraine war. (Nikkei Asia)

The Amsterdam Trade Bank, a trade-finance subsidiary of Russia's Alfa Bank, filed for bankruptcy protection. (Reuters)

For the latest updates from Russia and Ukraine, click here

Orders for durable goods in the U.S. increased 0.8% in March following a 1.7% drop in February. (WSJ)

Ford is starting to bring its all-electric F-150 pickup off the assembly line in a major step toward electrification. (WSJ)

Agricultural trader Archer Daniels Midland is projecting tight crop supplies in the coming years. (WSJ)

Quarterly revenue at PepsiCo’s North American snacks unit rose 14% on a 1% gain in sales volume. (WSJ)

Semiconductor supplier Wolfspeed opened a plant in New York state aimed at compressing chip supply chains for U.S. auto makers. (Automotive Logistics)

India is in talks with global chipmakers about setting up manufacturing in the country. (Bloomberg)

The owners of JCPenney are offering to acquire Kohl’s in a deal that could value the department-store chain at some $8.6 billion. (New York Post)

Furniture importers are spreading out their suppliers to guard against disruptions. (Supply Chain Dive)

Export bookings at the Port of Shanghai have fallen more than 20% since mid-March. (Lloyd’s List)

Export delays at China’s Port of Ningbo-Zhoushan are growing as more cargo is diverted from Shanghai. (Journal of Commerce)

Truck maker Paccar’s first-quarter profit jumped 28% to $600.5 million as strong parts business drove an 11% gain in revenue. (MarketWatch)

U.K. retailer Tesco and Marshall Fleet Solutions will test the use of trucks powered by solar panels on trailer roofs. (Logistics Manager)

Freight forwarder Kuehne + Nagel’s first-quarter profit more than doubled to $348 million as net turnover jumped 23%. (ShippingWatch)

Air Canada is buying two factory-built Boeing 767-300 freighters after cargo revenue rose 42% in the first quarter. (Air Cargo News)

Facebook owner Meta is opening a store in Burlingame, Calif. (Retail Dive)

Paul Page is editor of WSJ Logistics Report. Write to him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @pdberger. and @LydsOneal. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.