CORRECTED-XPO Logistics jump 13% on cost-cutting, e-commerce growth

(Corrects speaker as CEO)

LOS ANGELES, May 5 (Reuters) – XPO Logistics Inc shares jumped almost 13% on Tuesday after executives said its e-commerce fulfillment, returns and home delivery businesses are thriving during the novel coronavirus pandemic.

“E-commerce saved us in April… It was our strongest performing vertical across the board,” Chief Executive Officer Bradley Jacobs said on a conference call with analysts.

XPO is courting new e-commerce business and squeezing costs via warehouse and other automation projects since losing two-thirds – or $600 million – of its Inc business early last year.

The company’s shares, which topped $114

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