GXO Logistics Shares Drop Amid Launch of Amazon Supply Chain Services
GXO Logistics shares fell nearly 13% following the launch of Amazon's new logistics service, ASCS. The move is seen as a direct threat to GXO’s large-enterprise market segment, where it competes with multi-year contract clients such as Procter & Gamble and American Eagle.
Topics: Amazon expansion GXO Logistics logistics outsourcing UPS