Yodel began as a new era brand launch from the days of HDNL, a brand vision, ‘to Yodel your parcels.’ With Valentine's peak around the corner, flowers are a stalwart success of their delivery. Last year all looked well. For the first days of January an extended year end, still reported record numbers, senior appointments followed as recently as Feb 8th. Below we take a look at the news on our sector from the likes of the BBC. We open with the official line from Yodel speaking to the IOC on Friday afternoon. (Feb 9th 2024).

Yodel speaking to the IOC

Yodel notes the speculative press coverage regarding the current situation of the company. In the summer of 2023, following a number of unsolicited approaches, we appointed Clearwater International to carry out a full strategic review. The company has continued to engage with several interested parties regarding strategic options for Yodel. We can confirm that these discussions are constructive, and we expect to announce positive outcomes shortly.

While these discussions are in final stages, operations continue without any disruption, with thousands of parcels travelling through our network and being successfully delivered throughout the UK. Our performance over the last year is testament to the long-term strength and growth potential of the Yodel business, handling 191 million parcels with revenues up 3.4%. The Christmas peak season achieved record service levels, and we have seen parcel volumes through our Out of Home network more than double with the significant rise in demand for customer-to-customer services.

Yodel in the News – BBC report, concerns over its future

Friday following the Thursday snow storm BBC reported ‘Parcel delivery firm Yodel has said it is in the "final stages" of talks over options for the company amid concern over its future. The company, which employs about 10,000 people, said discussions with "interested parties" were ongoing and "constructive". Reports suggest the firm is looking for a buyer, and that it could call in administrators if one is not found.’ BBC explained, the firm is owned by the Barclay family and one of its largest clients is online retailer Very, which is also owned by the Barclays.

On Wednesday, Sky had already reported that the Barclay family was urgently seeking a buyer for Yodel, with The Delivery Group among the possible suitors. The Telegraph reported that insolvency specialists Teneo have been lined up if the business is to be put into administration. Teneo has declined to comment.

Yodel news was all good news. (Feb 5th)

Mark O’Sullivan as new COO

Lara Piggott director of planning and business control

February 05 2024 Yodel said, two new senior executive appointments have been made, bolstering its leadership team to continue trajectory. Both appointments have been made from internal promotions as the business continues to provide support and growth opportunities for its colleagues. Having worked at Yodel for nearly five years as Director of Sort & Transport and Director of Service Centres, Mark O’Sullivan brings a wealth of experience to his new role as Yodel’s Chief Operating Officer. Mark started his career at DPD as a driver 23 years ago and has since worked in various different management and director roles before joining Yodel in 2019. In his new role, Mark will manage and lead daily business operations while helping to drive service improvements.

Lara Piggott has worked at Yodel for over 12 years and has been appointed as Director of Planning and Business Control. She brings 20 years of operational experience to the role, having started her career at DHL as an Operations Manager. Lara joined Yodel in 2011 as a Project Manager and will responsible for driving business momentum, planning for the peak period and overcoming operational challenges in her new role.

The Feb 5th report expanded, ‘In the last year Yodel saw significant growth in consumers choosing pre-loved items delivered through its sustainable Out of Home network, with volumes doubling vs 2022. The business invested £14m in fleet including 45 brand new tractor units and 120 double decker trailers, increasing capacity to manage growing demand and improving efficiency as part of an ongoing commitment to sustainability. Yodel also experienced increased use of its app, with downloads up 30% in the last year, and improved proactive communication with customers reducing inbound enquiries by a third year-on- year during the busiest period, demonstrating great service standards, with customer satisfaction ratings up 6% year-on-year.’

Commenting on the Feb 5th announcement, Yodel CEO, Mike Hancox said: “At the core of our success is our people and Mark and Lara’s promotions reinforce our commitment to investing in our talent. Both have been at Yodel for a number of years and bring substantial experience of the business and the logistics sector more generally to their respective roles. This will be vital as we continue to strengthen our offering and focus on providing more value-added services to our clients and their customers.”

January 18th Yodel report Record 2023 year and great service delivered through Christmas peak.’

The report summary of 2023: Record year for Yodel with full-year volumes up 3% to 191m parcels, with revenues up 3.4%. Strong service delivered in best peak for Yodel since the pandemic following investment in our customer app, with a Trustpilot score of 4.1. Doubling of volumes through our sustainable Out of Home network, with further growth to come in 2024 from our expanded multi-year partnership with Vinted and PayPoint

Peak trading period highlights:

Strategic and operational highlights reported for 2023

-A new multi-year deal signed with Vinted and PayPoint to grow volumes in the sustainable Out of Home network
-New Head office in Speke, Liverpool
-New 135,000 sq.ft depot opened in Coventry – the largest within the Yodel estate
-£14m investment in fleet including 45 brand new tractor units and 120 double decker trailers, increasing capacity to manage growing demand and improving efficiency as part of an ongoing commitment to sustainability
-Yodel CIO awarded CIO of the year at the Women in Tech Excellence Awards. Customer query handling improvements recognised at the UK Customer Experience Awards
-Continued improvements to the customer app and investment in innovative technology. what3words launched for Yodel deliveries
-Over 3.5 million downloads of the Yodel app, up by 30% in the last year, and a Trustpilot score of 4.1
-Retained the Ministry of Defence Gold Covenant Award, recognising Yodel’s continued commitment as a top armed forces-friendly employer
-Additional locker locations deployed in the Out of Home network through partnerships with Paypoint and OOHPod, the Irish locker business
-Clearwater International appointed to conduct a strategic review of Yodel, including potential changes of ownership and strategic partnerships, which is ongoing

Mike Hancox, CEO of Yodel, commented on Jan 18th

“I’m delighted that Yodel has successfully navigated the challenges of rising labour costs and high inflation in 2023 whilst continuing to support our retail clients and their customers with outstanding levels of service and re-shaping our business to perform strongly in growing categories. “In the coming year, our focus will be to consolidate on our recent investments in technology and to grow our Out of Home network, in response to the huge increase in customer demand for pre-loved products. Thanks to the convenience, personal service, security, and greater sustainability that this channel offers, growing numbers of customers are seeing the benefits of using this service".