GXO

New management of GXO stops into an online forum to tell its story

When GXO was spun off of parent company XPO in August, its new management team faced a task that was possibly the biggest of all: iintroduce itself to the investment community and answer the question of just who this company was and what it did.

Members of the company’s management team took a more public step in that direction Tuesday during an online forum hosted by Amit Mehrotra, the head of the Deutsche Bank transportation research team. They made the case that the contract logistics...

https://www.freightwaves.com/news/new-management-of-gxo-stops-into-an-online-forum-to-tell-its-story

GXO to open, operate Arizona DC for Abercrombie & Fitch

GXO to open DC for Abercrombie & Fitch

GXO Logistics will open a “highly automated” distribution center in Goodyear, Arizona, for customer Abercrombie & Fitch Co.

The center, which will cover approximately 715,000 square feet, will include automation and goods-to-person robotics. GXO (NYSE: GXO) said it expects to employ about 300 at the location, which will be the eighth warehouse, covering a total of more than 2 million square feet of space, that GXO operates in the area for customers.

“We’re excited to expand our partnership with...

https://www.freightwaves.com/news/gxo-to-open-operate-arizona-dc-for-abercrombie-fitch

Industry tailwinds push shippers toward fewer, more advanced partners

Today’s shippers have found themselves grappling with a variety of secular tailwinds, namely e-commerce growth, automation and outsourcing. While each of these factors existed before the coronavirus pandemic rocked the logistics industry last year, the impact of a global pandemic has accelerated preexisting trends and concerns. 

FreightWaves President George Abernathy recently sat down with GXO Logistics Chief Investment Officer Mark Manduca to discuss how GXO can help shippers navigate these...

https://www.freightwaves.com/news/industry-tailwinds-push-shippers-toward-fewer-more-advanced-partners

XPO spinoff approved; shares to start trading Aug. 2

XPO Logistics Inc. (NYSE:XPO) said Tuesday that its board has approved the spinoff of the company’s contract logistics operations, and that the company will begin trading on the New York Stock Exchange Aug. 2 under the symbol GXO.

The announcement marks the culmination of an eight-month process that began when Greenwich, Connecticut-based XPO announced in December that it would spin off its logistics business while keeping its LTL and brokerage businesses, among others, under the XPO banner....

https://www.freightwaves.com/news/xpo-spinoff-approved-shares-to-start-trading-aug-2

XPO provides GXO guidance, pulls forward spinoff date

XPO's transportation unit seeing

XPO Logistics (NYSE: XPO) announced Wednesday updated financial goalposts following the planned spinoff of its logistics unit, which it now expects to complete during the third quarter.

The company increased its outlook for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to at least $490 million in the second quarter. “Stronger-than-expected performance in its transportation segment” was cited as the reason for the increase.

The expected second-quarter...

https://www.freightwaves.com/news/xpo-provides-gxo-guidance-pulls-forward-spinoff-date

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