25th Feb 2021 14:39
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; [email protected]
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