Upexi Streamlines Third Party Logistics Locations To Cut Costs By $1M-$1.5M

Upexi Inc UPXI plans to eliminate its California Third Party Logistics (3PL) location, reduce its Nevada presence, and consolidate its Florida operations into a single location in Tampa.
Upexi estimates to achieve annual cost savings of about $1 million to $1.5 million over the next six months due to the consolidation.
"Consolidating these locations to a lower-cost, business-friendly state like Florida allows management to reduce travel and have a central operating center for our team,” said CEO Allan Marshall.
“While we will continue to evaluate the financial benefits of partnering with smaller, regional 3PL providers across the country, we plan to primarily distribute our current and future brands through our main 3PL location in Florida."
Upexi owns brands in the health, wellness, pet, beauty, and other growing markets.
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Price Action: UPXI shares are trading higher by 1.63% at $4.36 on the last check Tuesday.