Uber Technologies UBER and Wakefern Food Corp. have expanded their partnership, enabling customers to shop from more than 375 Wakefern-affiliated supermarkets across the Northeast through Uber Eats. Participating banners include ShopRite, Price Rite Marketplace, The Fresh Grocer, Morton Williams, Dearborn Market, Di Bruno Bros., Fairway Market and Gourmet Garage. Uber Eats is the online food ordering and delivery platform of the company.
Through the Uber Eats app, customers can order from their preferred neighborhood supermarkets, many of which are family-owned and operated. Available products include fresh produce, meat, seafood, pantry staples, prepared foods and household essentials. Shoppers can choose between on-demand and scheduled delivery.
To mark the launch, Uber Eats is offering eligible customers discounts of up to 30% on their first order from participating Wakefern banners. Uber One members will be charged no delivery fee on eligible orders, along with other exclusive savings.
The collaboration gives Wakefern’s family-owned supermarkets another channel to serve communities across the Northeast. It allows customers to access the fresh products, value and neighborhood-focused service they expect, while benefiting from greater speed and convenience.
The launch also advances Uber Eats’ ongoing expansion in grocery and retail delivery. Adding Wakefern’s banners strengthens Uber’s grocery marketplace as demand for on-demand delivery of everyday essentials continues to grow across North America.
The partnership reflects rising consumer demand for flexible grocery-shopping options that maintain product selection and value. By bringing more than 375 supermarkets, including well-known banners such as ShopRite and Fairway Market, onto its platform, Uber Eats can support everything from full weekly grocery purchases to urgent, last-minute needs through a single app.
Last year, Uber inked a deal with retailer Best Buy BBY for on-demand delivery. This deal brought consumer electronics from more than 800 stores to the Uber Eats platform. Following the tie-up, Best Buy customers throughout the United States are eligible to order a wide range of electronics, appliances and tech essentials on Uber Eats for delivery to their doorsteps.
Apart from the deal with Best Buy, Uber’s agreements with discount retailers Dollar General DG and Dollar Tree DLTR were also on the same customer-friendly lines. The tie-up with Dollar General ensured that its more than 14,000 locations arrived on the Uber Eats platform. Following the association with Dollar General, customers are using the Uber Eats app to order food, beverages and other essentials.
The deal with Dollar Tree has also enhanced UBER’s retail delivery capabilities by adding nearly 9,000 stores to the Uber Eats platform. The partnership with Dollar Tree ensures that customers across states can easily access affordable items of everyday use, ranging from party supplies to cosmetics and home essentials for on-demand delivery.
UBER’s Share Price Performance, Valuation and Estimates
Shares of UBER have gained in low single digits (% wise) over the past three months. UBER’s shares have outperformed the Zacks Internet-Services industry over the same time frame.
3- Month Price Comparison
From a valuation standpoint, UBER trades at a 12-month forward price-to-sales of 2.26X. UBER is inexpensive compared with its industry.
See how the Zacks Consensus Estimate for Uber’s earnings has been revised over the past 90 days.
Uber’s Zacks Rank
Uber currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Uber Technologies, Inc. (UBER): Free Stock Analysis Report
Dollar General Corporation (DG): Free Stock Analysis Report
Dollar Tree, Inc. (DLTR): Free Stock Analysis Report
Best Buy Co., Inc. (BBY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).