- Abercrombie & Fitch Co ANF and GXO Logistics Inc GXO agreed to open a new 715,000 square-foot distribution center in Goodyear, Arizona.
- The highly automated facility will serve as Abercrombie & Fitch's new hub for its West Coast operations when it becomes fully operational in late 2021.
- Intelligent analytics, including AI and machine learning, will be deployed to deliver fast, efficient distribution of products to customers.
- The distribution center will create more than 300 jobs in the Phoenix metropolitan area.
- The new multi-year agreement brings GXO's total square footage in the area to more than two million square feet. GXO currently operates seven warehouses in the region.
- Price Action: ANF shares are trading lower by 3.52% at $37.8, while GXO is down 0.96% at $77.62 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
