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GXO LOGISTICS, INC.

(GXO)
  Report
Delayed Nyse  -  04:00:02 2023-03-24 pm EDT
45.93 USD   +1.32%
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GXO Extends Partnership with Groupe SEB in the U.K.

01/23/2023 | 04:01am EDT

 French company is a leading manufacturer and online seller of domestic appliances and cookware

GXO and Groupe SEB have been partners in the U.K. since 2008

LONDON, U.K., Jan. 23, 2023 (GLOBE NEWSWIRE) --  GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, announced today that it has extended its partnership with Groupe SEB, offering additional warehouse space to enable sustainable growth. The company, based in France, is a leading manufacturer of small domestic appliances and cookware sold through multi-format retailing in more than 150 countries.

“We’re excited to extend our longstanding partnership with Groupe SEB as they continue to grow their business,” said Gavin Williams, Managing Director of GXO UK and Ireland. “With our commitment to continuous improvement, we’re helping Groupe SEB’s omnichannel business provide an outstanding customer experience in the U.K. and Ireland with our custom end-to-end supply chain solutions. We’ve successfully deployed a proprietary Warehouse Management System, and in 2023 GXO will implement additional automation and technology options — including autonomous mobile robots (AMRs), wearable scanners and printers and a boom conveyor belt — that will enable multistore picking, reducing in-aisle travel for retail by up to 50% and further improving pick accuracy. We’re committed to helping Groupe SEB to continue expanding its omnichannel business.”

GXO uses the 220,000-square-foot space in West Hallam dedicated to Groupe SEB to receive and store the company’s products from Asia and Europe. GXO also processes, picks and ships orders for the company, handling up to 6,500 items per day and generating significant cost savings as well as providing the ability to quickly scale operations to support Groupe SEB’s growth.

GXO’s partnership with Groupe SEB started in 2008 with the stockholding of up to 12,000 pallets per week, and the activity has grown rapidly since then. Today, GXO provides stockholding across five locations to support peak stockholding levels required by Groupe SEB. Over the past year, GXO’s high level of stock accuracy has enabled the elimination of the annual stock count, reducing inventory management costs and the operational impact. GXO has helped Groupe SEB expand efficiently, including combining products from 11 storage locations into a single site solution.

Martine Perkins, Warehouse and Distribution Manager, Groupe SEB UK Ltd, said, “We are happy to extend our contract with GXO because they are helping us to optimize and grow our business through the use of smart technology and automation. GXO is focused on achieving continuous improvement by creating a seamless service, offering significant efficiencies and superior supply chain support for the annual growth we’re projecting.”

About GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is benefiting from the rapid growth of ecommerce, automation and outsourcing. GXO is committed to providing a diverse, world-class workplace for more than 130,000 team members across more than 950 facilities totaling approximately 200 million square feet. The company partners with the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut, USA. Visit GXO.com for more information and connect with GXO on LinkedIn, Twitter, Facebook, Instagram and YouTube

About Groupe SEB

World reference in small domestic equipment, Groupe SEB operates with a unique portfolio of 32 top brands including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, marketed through multi-format retailing. Selling more than 417 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness, and client service. Present in over 150 countries, Groupe SEB generated sales of €8 billion in 2021 and has more than 33,000 employees worldwide.
Find us on www.groupeseb.com

Media contacts

Anne Lafourcade
+33 (0)6 75 22 52 90
anne.lafourcade@gxo.com

Matthew Schmidt
+1 203-307-2809
matt.schmidt@gxo.com


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Financials (USD)
Sales 2023 9 725 M - -
Net income 2023 239 M - -
Net Debt 2023 1 077 M - -
P/E ratio 2023 22,9x
Yield 2023 -
Capitalization 5 455 M 5 455 M -
EV / Sales 2023 0,67x
EV / Sales 2024 0,59x
Nbr of Employees 89 000
Free-Float 99,3%
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Number of Analysts 15
Last Close Price 45,93 $
Average target price 60,27 $
Spread / Average Target 31,2%
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Managers and Directors
Malcolm Wilson Chief Executive Officer & Director
Vaughn Mandy CEO & Founder
Baris Oran Chief Financial Officer
Bradley S. Jacobs Chairman
Sandeep Sakharkar Chief Information Officer
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