C.H. Robinson Worldwide Inc. (CHRW - Free Report) recently announced that its contract with Tesco has been renewed. Tesco is a renowned retailer of multinational grocery and general merchandise. The renewed and expanded contract is focused on increasing the distribution of Tesco’s vast range of products across Poland.
Tesco Poland has over 400 stores across the country and serves around five million customers weekly.
C.H. Robinson has been associated with Tesco since 2011. It supported the Tesco Poland business by operating out of Tesco’s Gliwice Distribution Centre. The services provided as part of the outsource transport solution over the past five years is highly appreciated by Tesco as indicated by the contract extension. The new contract of expanding Tesco’s operations includes extension of the existing logistics partnership to C.H. Robinson’s Gliwice, Poznan, and Teresin divisions. The decision was taken by Tesco following its move to synchronize its existing Eastern European operations model.
Per the President of Europe, C.H. Robinson – Jeroen Eijsink – the company’s main focus is on delivering quality and efficiency services to best serve its customers. Eijsink also mentioned that the company is positive on boosting its ties with Tesco. Matthew Rhind, CE Distribution Director of Tesco, mentioned that the company is confident that the partnership will meet its requirements and support its strategies.
We are positive on C.H. Robinsons’ deal expansion with Tesco and expect it to further boost the company’s international performance.
CH ROBINSON WWD Price
C.H. Robinson carries a Zacks Rank #4 (Sell). The company missed earnings estimates in the third quarter.
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