SAN FRANCISCO - In a move to expand its delivery services beyond food, Uber Eats (NYSE: NYSE:UBER) has teamed up with The Home Depot (NYSE: NYSE:HD), the world's largest home improvement retailer with a market capitalization of $415.65 billion and annual revenue exceeding $154 billion, to offer on-demand and scheduled deliveries of home improvement products. According to InvestingPro analysis, Home Depot maintains a GOOD financial health score and stands as a prominent player in the Specialty Retail industry. This service is available starting today, allowing customers to order items through the Uber Eats app from more than 2,000 Home Depot stores nationwide.
The collaboration aims to simplify home improvement by providing easy access to a wide range of products, including tools, building materials, and gardening supplies. Customers can now conveniently browse and order these products for immediate or scheduled delivery, catering to both professional contractors with urgent needs and DIY enthusiasts working on home projects. Home Depot's robust operational network includes 2,345 retail stores, supporting its 2.15% dividend yield - part of a 15-year consecutive dividend increase streak.
Hashim Amin, Head of North American Grocery and Retail Delivery at Uber Eats, emphasized the partnership's role in breaking down barriers to product access, while Jordan Broggi, executive vice president of customer experience and president of online at The Home Depot, highlighted the synergy with the company's existing e-commerce capabilities.
The process for customers is straightforward: open the Uber Eats app, select a Home Depot store, and choose from a curated selection of items. After placing an order, customers can track their delivery in real-time, from the store to their doorstep.
Uber, which began as a ride-hailing service in 2010, has since expanded its platform to include a variety of delivery services, now further broadened by this new offering. The Home Depot operates 2,345 retail stores and over 780 branches, employing over 465,000 associates.
This announcement is based on a press release statement from Uber. The partnership reflects both companies' commitment to innovation and customer service by leveraging Uber Eats' delivery network to enhance The Home Depot's interconnected shopping experience. For detailed analysis of Home Depot's financial performance and growth prospects, including 8 additional ProTips and comprehensive valuation metrics, visit InvestingPro for the complete Pro Research Report.
In other recent news, Home Depot has made significant adjustments to its credit facilities, terminating a $1.0 billion three-year revolving credit facility and reducing commitments under another line. This follows the successful acquisition of SRS Distribution Inc. Home Depot also recently declared a third-quarter cash dividend of $2.25 per share. The company's third-quarter earnings showed a 6.6% increase in total sales, reaching $40.2 billion, despite a 1.3% decline in comparable sales and a decrease in adjusted diluted earnings per share to $3.78. Evercore ISI, Mizuho (NYSE:MFG) Securities, and Loop Capital have all recently adjusted their price targets for Home Depot to $430, $440, and $465 respectively.
Piper Sandler has expressed a positive outlook for several companies, including Tempur-Sealy, Wayfair (NYSE:W), and YETI, anticipating sales growth in the first half of 2025. The firm has upgraded these companies due to potential sales growth from anticipated shifts in consumer purchasing behavior. Tempur-Sealy received an "Overweight" rating with a price target of $65, Wayfair also holds an "Overweight" rating with a price target of $58, and YETI maintains an "Overweight" rating with a price target of $54.
Walmart (NYSE:WMT), in partnership with fintech partner Branch Messenger Inc., is facing a lawsuit from the Consumer Financial Protection Bureau. Despite this, KeyBanc Capital Markets has spotlighted Walmart as a top stock pick for 2025. Tigress Financial Partners raised the 12-month price target for Walmart to $115, maintaining a buy rating due to the company's robust growth trajectory and market share gains. Bernstein, a division of SocGen Group, has maintained an Outperform rating on Walmart, expressing confidence in the company's potential to capitalize on its scale and enhance value for customers, particularly in the e-commerce sector.
Finally, KeyBanc analyst provided insights into the latest retail spending trends indicating mixed performance across various sectors. The analysis highlighted a 3.3% decline in the All Retail category for the week ending November 24, marking a deceleration from the previous week's 0.5% decline. Home improvement retailers Lowe's (NYSE:LOW) and Home Depot reported indexed spending declines of 3.3% and 3.8%, respectively.
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