GXO singles out ‘billion dollar’ Sainsbury’s deal in results

Posted on Monday 15 May 2023

The nearly billion dollar lifetime deal with the UK grocer was a key win as logistics services provider GXO recorded first quarter revenue of $2.3 billion, up 12% year on year.

THE FIRM also saw adjusted EBITDA of $158 million, while other highlights included first quarter eComm revenue up 34% year on year; reverse logistics revenue up 50% year on year; and record operational tech deployment – up 64% year on year.

GXO chief executive officer Malcolm Wilson, says: “Our new project with Sainsbury’s is the largest annual revenue contract awarded in GXO’s history and represents nearly $1 billion in lifetime value.

“We’ve signed exciting new partnerships and expanded relationships across multiple verticals and markets.

“Operational tech was up a record 64%, and we are accelerating our deployment of artificial intelligence. In addition, the integration of Clipper is largely complete.”

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