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GXO Logistics

Topic: Company

 From HandWiki - Reading time: 5 min
Short description: American contract logistics and warehousing company
GXO Logistics, Inc.
TypePublic company
PredecessorXPO Logistics
FoundedAugust 2, 2021; 2 years ago (2021-08-02)
HeadquartersGreenwich, Connecticut, U.S.
Number of locations
869[1] (2021)
Key people
  • Brad Jacobs
    (Non-Executive Chairman)
  • Malcolm Wilson (CEO)
  • Baris Oran (CFO)
WebsiteGXO Logistics, Inc.
Footnotes / references
[2][3]

GXO Logistics, Inc. (trade name GXO) is an American global contract logistics[1] company that manages outsourced supply chains and warehousing, and reverse logistics for blue-chip customers in over thirty countries.[4][5][6] GXO's corporate headquarters are located in Greenwich, Connecticut, U.S.[7] Its customers include Apple, Nike Inc., Boeing Co., Verizon, Whirlpool, and Nestle SA.[8][9]

History

In December 2020, XPO, Inc. announced that it would spin off its global contract logistics segment into a separate company.[10] In March 2021, XPO announced the new name of the firm as GXO Logistics Inc.[11] The spin-off was completed on August 2, 2021,[1] with American businessman Brad Jacobs named as Non-Executive Chairman, Malcolm Wilson as CEO; formerly the CEO of XPO, Inc. European division,[1] and Baris Oran as CFO.[12]

In May 2022, GXO announced the acquisition of the UK-based retail logistics company, Clipper Logistics.[13][14] Clipper distributes goods for Marks & Spencer and Morrisons, and has expertise in life sciences, reverse logistics, and repairs.[15][16] Reverse logistics are the movement of products from consumers back to retailers.[17] The acquisition was completed in October after final regulatory approval.[16] It expanded GXO’s presence into Germany and Poland, and added over 50 sites, 10 million square feet of warehouse space, and approximately 10,000 employees to the company.[16]

That same month, as part of its European expansion, GXO also opened 30 shared warehouse facilities in the UK.[18] In May 2022, the company was named to the Fortune 500.[19] At the end of the fourth quarter, it reported that e-commerce revenue had risen 31% and reverse logistics revenue 19%.[20] By October 2022, GXO had opened 90 sites, signed 450 new customer contracts, and hired 15,000 people.[19]

In April 2023, GXO announced a partnership with Sainsbury, the UK supermarket chain,  to manage fresh and frozen shipments at several warehouse sites.[21] In June 2023, the company signed a partnership agreement with Zalando for a new, automated fulfillment center in Montereau-sur-le-Jard, located near Paris, France.[22] Also in June, GXO also announced a multiyear expansion program in Germany.[23]

The company had around 1000 warehouses in June 2023.[24] In July 2023, GXO announced that Adrian Stoch was appointed to the new executive position of chief automation officer.[25][26]

In October 2023, GXO acquired U.S.-based PFSweb, Inc., a tech-enabled eCommerce order fulfillment platform to expand its presence in North America.[27][28][29]

Technology

By the end of 2022, the company had approximately 7,600 pieces of technology operational in customer sites.[30] This included collaborative robots, vision scanners, automated guided vehicles (AGVs) and goods-to-person robots.[30] In May 2023, GXO Direct announced that Blue Yonder was a new warehouse software partner.[31]

Operations

(As of August 2021) from XPO, Inc., GXO had approximately 94,000 employees and operated 869 warehouses with more than 208 million sq ft (19.3 million m2) of facility space across 27 countries.[1] GXO's contract logistics customers operate in technology[32] and infrastructure.[33] In 2023, GXO was the world’s largest contract logistics provider.[34]

GXO Direct

GXO Direct is the shared services division of GXO Logistics. It was introduced in 2018 to provide an option for businesses who don’t require an entire warehouse for their products.[31] GXO Direct allows multiple customers to utilize one warehouse.[35] It is operational in the U.S. and Canada.[36] In March 2023, GXO Direct was expanded in the UK.[37]

See also

  • Economy of Connecticut
  • Fortune 500 Companies

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 "XPO Logistics Completes Spin Off of GXO Logistics" (in en). 2021-08-02. https://supplychaindigital.com/logistics/xpo-logistics-completes-spin-gxo-logistics. 
  2. ↑ "GXO Logistics, Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. December 31, 2022. https://investors.gxo.com/node/8201/html. 
  3. ↑ "GXO Investor Presentation January 2023". GXO, Inc.. https://investors.gxo.com/static-files/26c83d50-e9a0-4b53-a3a0-42d804e7cfc4. 
  4. ↑ "XPO Investor Presentation July 2021". July 28, 2021. https://investors.xpo.com/static-files/7cee4ee3-0f3b-4959-8183-8fc705c7ef7d. 
  5. ↑ Hill, David (January 13, 2023). "MONEY FROM MOVING: Geography, infrastructure, megatrends drive growth in Triad's logistics industry". https://www.bizjournals.com/triad/news/2023/01/13/logistics-industry-evolution.html. 
  6. ↑ "GXO Logistics to Hire 4,000 for Holiday Season Across US" (in en). 2022-10-17. https://www.ttnews.com/articles/gxo-logistics-hire-4000-holiday-season-across-us. 
  7. ↑ "GXO Logistics, Inc.". June 9, 2021. https://www.sec.gov/Archives/edgar/data/1852244/000162828021011851/gxologisticsform10.htm. 
  8. ↑ Thomas, Rhys (2021-08-02). "XPO Logistics Completes Spin Off of GXO Logistics" (in en). https://supplychaindigital.com/logistics/xpo-logistics-completes-spin-gxo-logistics. 
  9. ↑ "Robots Are Key to Winning the Productivity War" (in en). Bloomberg.com. 2022-08-19. https://www.bloomberg.com/opinion/articles/2022-08-19/robots-are-key-to-winning-the-productivity-war. 
  10. ↑ Berman, Jeff. "Spin-off of GXO Logistics from XPO Logistics is a done deal" (in en). https://www.logisticsmgmt.com/article/spin_off_of_gxo_logistics_from_xpo_logistics_is_a_done_deal%7D. 
  11. ↑ Sharkey, Grace (18 March 2021). "XPO Announces Logistics Spinoff GXO". https://www.freightwaves.com/news/xpo-announces-logistics-spinoff-gxo. 
  12. ↑ Warfield, Andy (August 3, 2021). "GXO chief financial officer: Triad a strategic location for firm's North American growth". https://www.bizjournals.com/triad/news/2021/08/03/gxo-spinoff-complete-from-xpo.html. 
  13. ↑ "GXO completes Clipper Logistics acquisition following court approval | Financial News" (in en). https://www.lse.co.uk/news/gxo-completes-clipper-logistics-acquisition-following-court-approval-th1u2abxtogcrzh.html. 
  14. ↑ "GXO eyes improved 'returns' as Clipper buy can boost reverse logistics offering". Loadstar. 9 November 2022. https://theloadstar.com/gxo-eyes-improved-returns-as-clipper-buy-can-boost-reverse-logistics-offering/. 
  15. ↑ Crowley, Amy-Jo (2023-01-20). "GXO CEO sees large M&A opportunities in Canada" (in en). Reuters. https://www.reuters.com/markets/deals/gxo-ceo-sees-large-ma-opportunities-canada-2023-01-20/. 
  16. ↑ 16.0 16.1 16.2 Straight, Brian (2022-10-04). "UK authorities clear GXO's $1.3B acquisition of Clipper Logistics" (in en-US). https://www.freightwaves.com/news/uk-authorities-clear-gxos-13b-acquisition-of-clipper-logistics. 
  17. ↑ Staff, TipRanks com (2022-10-02). "Top Wall Street analysts name the best stocks to ride a market downcycle" (in en). https://www.cnbc.com/2022/10/02/top-wall-street-analysts-see-alphabet-as-a-buying-opportunity.html. 
  18. ↑ Daleo, Jack (2023-03-28). "GXO Direct launches in UK with plans for future European expansion" (in en-US). https://www.freightwaves.com/news/gxo-direct-launches-in-uk-with-plans-for-future-european-expansion. 
  19. ↑ 19.0 19.1 Straight, Brian (2022-08-09). "GXO Logistics continues to write new chapters in its evolving story" (in en-US). https://www.freightwaves.com/news/gxo-continues-ecommerce-logistics-growth. 
  20. ↑ Solomon, Mark (2023-02-15). "GXO cautiously confident about ’23 after beating bottom line in Q4" (in en-US). https://www.freightwaves.com/news/gxo-cautiously-confident-about-23-after-beating-bottom-line-in-q4. 
  21. ↑ Solomon, Mark (2023-04-12). "GXO big winner in Sainsbury's logistics overhaul" (in en-US). https://www.freightwaves.com/news/gxo-big-winner-in-sainsburys-logistics-overhaul. 
  22. ↑ Kumaresan, Shivani. "GXO Logistics Partners With European Fashion Platform Zalando For Fulfillment Center Operation - GXO Logistics (NYSE:GXO)" (in English). https://www.benzinga.com/markets/equities/23/06/32964740/gxo-logistics-partners-with-european-fashion-platform-zalando-for-fulfillment-center-operation. 
  23. ↑ "GXO Launches Multiyear Expansion in Germany" (in en). 2023-06-12. https://www.ttnews.com/articles/gxo-expansion-germany. 
  24. ↑ Solomon, Mark (2023-06-08). "GXO plans multiyear expansion in Germany" (in en-US). https://www.freightwaves.com/news/gxo-plans-multiyear-expansion-in-germany. 
  25. ↑ Solomon, Mark (2023-07-25). "GXO names chief automation officer" (in en-US). https://www.freightwaves.com/news/gxo-names-chief-automation-officer. 
  26. ↑ "GXO creates C-level role to lead its automation efforts | DC Velocity" (in en). https://www.dcvelocity.com/articles/58087-gxo-creates-c-level-role-to-lead-its-automation-efforts. 
  27. ↑ Solomon, Mark (2023-09-14). "GXO acquires luxury goods fulfillment provider PFSweb" (in en-US). https://www.freightwaves.com/news/gxo-acquires-luxury-goods-fulfillment-provider-pfsweb. 
  28. ↑ "Irving e-commerce provider PFSweb sold for $181 million to GXO Logistics" (in en). 2023-09-14. https://www.dallasnews.com/business/retail/2023/09/14/irving-e-commerce-provider-pfsweb-sold-for-181-million-to-gxo-logistics/. 
  29. ↑ Solomon, Mark (2023-09-14). "GXO acquires luxury goods fulfillment provider PFSweb" (in en-US). https://www.freightwaves.com/news/gxo-acquires-luxury-goods-fulfillment-provider-pfsweb. 
  30. ↑ 30.0 30.1 Events, UKi Media & (2022-12-07). "GXO grows North America and Europe technology deployment by more than 50% in 2022" (in en-GB). https://www.parcelandpostaltechnologyinternational.com/news/automation/gxo-grows-north-america-and-europe-technology-deployment-by-more-than-50-in-2022.html. 
  31. ↑ 31.0 31.1 "Machine Learning Archives" (in en-US). https://logisticsviewpoints.com/tag/machine-learning/. 
  32. ↑ "Promethean en XPO Logistics breiden contract uit • TTM.nl" (in nl-NL). TTM.nl. 2017-08-02. https://www.ttm.nl/nieuws/promethean-en-xpo-logistics-breiden-contract/90788/. 
  33. ↑ "XPO Logistics wins Highways England contract renewal" (in en-GB). CILT(UK). https://www.ciltuk.org.uk/News/LatestNews/TabId/235/ArtMID/6887/ArticleID/13540/XPO-Logistics-wins-Highways-England-contract-renewal.aspx. 
  34. ↑ Crowley, Amy-Jo (2023-01-20). "GXO CEO sees large M&A opportunities in Canada" (in en). Reuters. https://www.reuters.com/markets/deals/gxo-ceo-sees-large-ma-opportunities-canada-2023-01-20/. 
  35. ↑ Straight, Brian (2022-11-15). "‘Roboconomy’ infiltrates GXO Logistics facilities" (in en-US). https://www.freightwaves.com/news/roboconomy-infiltrates-gxo-logistics-facilities. 
  36. ↑ Banker, Steve. "GXO Direct To Rely On Machine Learning To Drive Labor Efficiencies" (in en). https://www.forbes.com/sites/stevebanker/2023/05/12/gxo-direct-to-rely-on-machine-learning-to-drive-labor-efficiencies/. 
  37. ↑ "GXO extends shared warehousing model to U.K. | DC Velocity" (in en). https://www.dcvelocity.com/articles/57047-gxo-extends-shared-warehousing-model-to-uk. 

External links



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