IN BRIEF: Clipper Logistics Wins Two New "Major" Services Contracts

Clipper Logistics PLC - Leeds, England-based logistics firm - Wins two new "major" contracts with ...

Alliance News 25 February, 2021 | 2:39PM
Email Form

Clipper Logistics PLC - Leeds, England-based logistics firm - Wins two new "major" contracts with retailers River Island Clothing Ltd and Mountain Warehouse Ltd. Says River Island 'open book' contract is for five years and will be for the provision of a "significant" extension of logistics services, including warehousing, distribution to high street stores, e-fulfilment, and returns management services at River Island's existing distribution centre in Milton Keynes. Services are planned to commence in mid-2021.

Mountain Warehouse open book contract is for 10 years and will include a full range of multi-channel logistics services from Clipper's Peterborough distribution centre. The new contract is expected to begin in spring 2021, employing 220 workers. Notes the two contracts will increase Clipper's revenue by more than GBP40 million on a full-year basis.

"Both contracts are a clear indication of the collaboration and use of shared resources that will define the retail logistics supply chain into the future. These contracts enhance our command of the end-to-end service proposition in online retail, and demonstrate that Clipper is also well-positioned to continue to support high street retail as it recovers from lockdown," says Clipper Executive Chair Steve Parkin.

Current stock price: 579.05 pence, up 7.8% on Thursday

Year-to-date change: up 0.9%

By Zoe Wickens; zoewickens@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Clipper Logistics PLC 638.00 GBX -2.89 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2021 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies       Modern Slavery Statement