30th Oct 2014 09:06
LONDON (Alliance News) - Clipper Logistics PLC shares were among the best performers on the London market in early trade on Thursday after the company said it has won a contract with German fashion brand s.Oliver to manage its European wholesale and retail returns management service.
Clipper shares were up 6.2% to 139.693 pence in early trade.
As part of the deal, s.Oliver had tried to sell the freehold on its Munchberg site to Clipper but, as Clipper runs an "asset-light business model", the site has been bought by Knaresborough Real Estate Ltd instead. Knaresborough is owned by Clipper Executive Chairman Steve Parkin.
Clipper said the deal with s.Oliver represents the first contract for its Boomerang returns service in mainland Europe.
"We set out earlier this year a very clear strategy to develop returns management capabilities in continental Europe to capitalise on our strengths in this key area. Returns management is a growing issue for all retailers and finding ways to make the process more efficient is increasingly crucial to their success," said Parkin.
By Sam Unsted; [email protected]; @SamUAtAlliance
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