Uber Eats Expands Services To Deliver Home Depot Products, But Retail Isn't Sold Yet

Shares of Uber Technologies Inc (UBER) and Home Depot Inc (HD) were in the spotlight on Wednesday after Uber Eats entered a partnership with the home improvement retailer under which customers can order Home Depot products through the Uber Eats app.

The deliveries can be requested for on-demand service or scheduled at a convenient time, the company said.

Uber Eats customers can browse Home Depot products from more than 2,000 store locations across the country directly within the app. These include tools, building materials, gardening supplies, and more.

Hashim Amin, Head of North American Grocery and Retail Delivery at Uber Eats said teaming up with The Home Depot is a new step forward in serving consumers through delivery in even more aspects of their lives.

Jordan Broggi, executive vice president of customer experience and president of online The Home Depot, said the firm’s stores are core to its business, and expanding the e-commerce capabilities is a key part of its efforts.

Uber shares traded marginally in the green on Wednesday, while Home Depot shares fell 0.78%. On Stocktwits, retail sentiment surrounding Uber shares continued to trade in the ‘bearish’ territory while sentiment for HD shares climbed into the ‘neutral’ territory (50/100) from the ‘bearish’ zone.

Stocktwits users expressed optimism about Uber shares.

Notably, Uber shares have gained just over 5% over the past year, while Home Depot shares have gained over 16% in the period.

Also See: United Airlines Stock Soars Pre-Market After Upbeat Q4 Earnings, Projections: Retail Sentiment Hits Year-High

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