GXO Logistics

American contract logistics and warehousing company

GXO Logistics, Inc.

Company type| Public

Traded as

* NYSE: GXO
* S&P 400 component

Predecessor| XPO, Inc.
Founded| August 2, 2021; 3 years ago (2021-08-02)
Headquarters| Greenwich, Connecticut, U.S.

Number of locations

| 1,030 (2024)

Key people

* Brad Jacobs (non-executive chairman)
* Malcolm Wilson (CEO)
* Baris Oran (CFO)

Revenue|  US$11.7 billion (2024)

Operating income

|  US$218 million (2024)

Net income

|  US$138 million (2024)
Total assets|  US$11.3 billion (2024)
Total equity|  US$3.04 billion (2024)

Number of employees

| 152,000 (2024)
Website| gxo.com
Footnotes / references
[1][2]

GXO Logistics, Inc. is an American global contract logistics[3] 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, Inditex SA, and Nestle SA.[8][9]

## History

[edit]

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,[3] with American businessman Brad Jacobs named as Non-Executive Chairman, Malcolm Wilson as CEO; formerly the CEO of XPO, Inc. European division,[3] and Baris Oran as CFO.[12]

In May 2022, GXO announced the acquisition of the U.K.-based retail logistics company, Clipper Logistics.[13][14] Clipper distributes goods for Marks & Spencer and Morrisons, and specialises 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 U.K.[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 U.K. 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 1,000 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]

In March 2024, GXO's takeover offer of Wincanton PLC worth £762 million was backed by its board of directors.[30] The transaction was approved by the court on 25 April 2024, so allowing the take-over to be completed.[31]

## Technology

[edit]

By the end of 2022, the company had approximately 7,600 pieces of technology operational in customer sites.[32] This included collaborative robots, vision scanners, automated guided vehicles (AGVs) and goods-to-person robots.[32] In May 2023, GXO Direct announced that Blue Yonder was a new warehouse software partner.[33]

## Operations

[edit]

Following the split in August 2021[update] 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.[3] GXO's contract logistics customers operate in technology[34] and infrastructure.[35] In 2023, GXO was the world’s largest contract logistics provider.[36]

### GXO Direct

[edit]

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.[33] GXO Direct allows multiple customers to utilize one warehouse.[37] It is operational in the U.S. and Canada.[38] In March 2023, GXO Direct was expanded in the U.K.[39]

## See also

[edit]

* Economy of Connecticut
* Fortune 500 Companies

## References

[edit]

1. ^ "GXO Logistics, Inc. 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 18, 2025.
2. ^ "GXO Investor Presentation January 2023". GXO, Inc. Retrieved 12 January 2023.
3. ^ a b c d "XPO Logistics Completes Spin Off of GXO Logistics". supplychaindigital.com. 2021-08-02. Retrieved 2023-04-09.
4. ^ "XPO Investor Presentation July 2021". xpo.com. July 28, 2021. Retrieved August 2, 2021.
5. ^ Hill, David (January 13, 2023). "MONEY FROM MOVING: Geography, infrastructure, megatrends drive growth in Triad's logistics industry". www.bizjournals.com. Retrieved 2023-06-17.
6. ^ "GXO Logistics to Hire 4,000 for Holiday Season Across US". Transport Topics. 2022-10-17. Retrieved 2023-11-29.
7. ^ "GXO Logistics, Inc". SEC.gov. June 9, 2021. Retrieved August 2, 2021.
8. ^ Thomas, Rhys (2021-08-02). "XPO Logistics Completes Spin Off of GXO Logistics". supplychaindigital.com. Retrieved 2023-10-06.
9. ^ "Robots Are Key to Winning the Productivity War". Bloomberg.com. 2022-08-19. Retrieved 2023-10-06.
10. ^ Berman, Jeff. "Spin-off of GXO Logistics from XPO Logistics is a done deal". Logistics Management. Archived from the original on August 2, 2021. Retrieved 2023-04-09.
11. ^ Sharkey, Grace (18 March 2021). "XPO Announces Logistics Spinoff GXO". Freightwaves. Retrieved 19 March 2021.
12. ^ Warfield, Andy (August 3, 2021). "GXO chief financial officer: Triad a strategic location for firm's North American growth". www.bizjournals.com. Retrieved 2023-06-01.
13. ^ "GXO completes Clipper Logistics acquisition following court approval | Financial News". www.lse.co.uk. Retrieved 2022-05-24.
14. ^ "GXO eyes improved 'returns' as Clipper buy can boost reverse logistics offering". Loadstar. 9 November 2022. Retrieved 12 November 2022.
15. ^ Crowley, Amy-Jo (2023-01-20). "GXO CEO sees large M&A opportunities in Canada". Reuters. Retrieved 2023-10-10.
16. ^ a b c Straight, Brian (2022-10-04). "UK authorities clear GXO's $1.3B acquisition of Clipper Logistics". FreightWaves. Retrieved 2023-09-18.
17. ^ Staff, TipRanks com (2022-10-02). "Top Wall Street analysts name the best stocks to ride a market downcycle". CNBC. Retrieved 2023-10-10.
18. ^ Daleo, Jack (2023-03-28). "GXO Direct launches in UK with plans for future European expansion". FreightWaves. Retrieved 2023-04-03.
19. ^ a b Straight, Brian (2022-08-09). "GXO Logistics continues to write new chapters in its evolving story". FreightWaves. Retrieved 2023-10-03.
20. ^ Solomon, Mark (2023-02-15). "GXO cautiously confident about '23 after beating bottom line in Q4". FreightWaves. Retrieved 2023-10-30.
21. ^ Solomon, Mark (2023-04-12). "GXO big winner in Sainsbury's logistics overhaul". FreightWaves. Retrieved 2023-08-29.
22. ^ Kumaresan, Shivani. "GXO Logistics Partners With European Fashion Platform Zalando For Fulfillment Center Operation - GXO Logistics (NYSE:GXO)". Benzinga. Retrieved 2023-08-31.
23. ^ "GXO Launches Multiyear Expansion in Germany". Transport Topics. 2023-06-12. Retrieved 2023-09-21.
24. ^ Solomon, Mark (2023-06-08). "GXO plans multiyear expansion in Germany". FreightWaves. Retrieved 2023-11-17.
25. ^ Solomon, Mark (2023-07-25). "GXO names chief automation officer". FreightWaves. Retrieved 2023-09-06.
26. ^ "GXO creates C-level role to lead its automation efforts | DC Velocity". www.dcvelocity.com. Retrieved 2023-09-06.
27. ^ Solomon, Mark (2023-09-14). "GXO acquires luxury goods fulfillment provider PFSweb". FreightWaves. Retrieved 2023-09-20.
28. ^ "Irving e-commerce provider PFSweb sold for $181 million to GXO Logistics". Dallas News. 2023-09-14. Retrieved 2023-09-21.
29. ^ Solomon, Mark (2023-09-14). "GXO acquires luxury goods fulfillment provider PFSweb". FreightWaves. Retrieved 2023-11-10.
30. ^ Kollewe, Julia (2024-03-01). "Wincanton backs £762m takeover offer from US group GXO". The Guardian. ISSN 0261-3077. Retrieved 2024-04-30.
31. ^ "Court Sanction of Scheme of Arrangement | Shares Magazine". www.sharesmagazine.co.uk. Retrieved 2024-04-30.
32. ^ a b Events, UKi Media & (2022-12-07). "GXO grows North America and Europe technology deployment by more than 50% in 2022". Parcel and Postal Technology International. Retrieved 2023-07-27.
33. ^ a b "Machine Learning Archives". Logistics Viewpoints. Retrieved 2023-09-06.
34. ^ "Promethean en XPO Logistics breiden contract uit • TTM.nl". TTM.nl (in Dutch). 2017-08-02. Retrieved 2017-10-22.
35. ^ "XPO Logistics wins Highways England contract renewal". CILT(UK). Retrieved 2017-10-22.
36. ^ Crowley, Amy-Jo (2023-01-20). "GXO CEO sees large M&A opportunities in Canada". Reuters. Retrieved 2023-06-08.
37. ^ Straight, Brian (2022-11-15). "'Roboconomy' infiltrates GXO Logistics facilities". FreightWaves. Retrieved 2023-09-27.
38. ^ Banker, Steve. "GXO Direct To Rely On Machine Learning To Drive Labor Efficiencies". Forbes. Retrieved 2023-10-16.
39. ^ "GXO extends shared warehousing model to U.K. | DC Velocity". www.dcvelocity.com. Retrieved 2023-09-27.

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[edit]

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