GXO Logistics, Inc. (NYSE:GXO) teamed up with The Perfume Shop, one of the largest fragrance retailers in the U.K.
The deal entails GXO providing weekly deliveries to over 200 stores via its shared transport network.
Notably, GXO’s shared transport network consolidates deliveries for multiple retailers, significantly reducing vehicle trips to crowded city centers.
Each vehicle typically carries goods from five different customers and stops at 8 to 10 locations, improving efficiency compared to dedicated delivery services.
Shared transport can cut CO2 emissions by up to 5kg per litre when compared to underutilized dedicated vehicles.
Additionally, this model helps reduce urban congestion, aligning with city policies aimed at lowering emissions and promoting sustainable transportation.
The contract comprises providing warehouse management, e-fulfillment, returns handling, and value-added services like labeling and quality control.
Investors can gain exposure to the stock via Tidal ETF Trust Aztlan North America Nearshoring Stock Selection ETF (NYSE:NRSH) and Invesco S&P Spin-Off ETF (NYSE:CSD).
Price Action: GXO shares closed higher by 1.59% at $43.55 on Tuesday.
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