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SAN FRANCISCO - Uber Technologies, Inc. (NYSE: UBER), a $155 billion market cap company currently trading at $74.18, has teamed up with Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) to offer Petco’s pet essentials on the Uber Eats platform across the contiguous United States. Starting today, customers can order pet food, toys, treats, and more for on-demand or scheduled delivery. According to InvestingPro analysis, Uber maintains a "GREAT" financial health score, suggesting strong operational capabilities for this expansion.
This partnership aims to provide convenience for pet owners by integrating Petco’s product line into the Uber Eats app, where users can select from a curated assortment of goods for their pets. To commemorate the launch, a promotional discount of 40% off on orders of $50 or more, capped at $30, is available for a limited time. Additionally, Uber One members can enjoy $0 delivery fees on eligible orders.
Petco, with a 60-year history of serving pet owners, is extending its reach through this collaboration, offering same-day delivery to cater to the evolving needs of its customers. Steve Janowiak, VP of Digital at Petco, expressed enthusiasm about the partnership, highlighting the added convenience for pet parents to receive trusted pet care products directly to their doors.
Among the Petco products now accessible through Uber Eats are the YOULY spring and Easter collections, which include trendy pet clothing and accessories, and the ’Started as a Bottle’ line, made from recycled materials. These offerings are part of Petco’s extensive selection of over 15,000 pet products now available on the delivery platform.
Uber’s Head of Retail in North America, Hashim Amin, shared his excitement about the new addition, noting that Uber’s technology and delivery network will simplify the lives of pet caregivers nationwide.
The integration of Petco into Uber Eats underscores Uber’s ongoing commitment to expand its retail and grocery services, striving to meet daily consumer needs through a comprehensive delivery solution.
To place an order, customers can simply navigate to the Retail or Pet Supplies category on the Uber Eats app, select Petco, add items to their cart, and choose their delivery time. Real-time order tracking ensures customers can monitor the delivery of their pet essentials.
This news is based on a press release statement and reflects the latest step by Uber Eats to diversify its offerings and by Petco to increase its digital footprint and accessibility.
In other recent news, Uber Technologies Inc. has been upgraded by S&P Global Ratings to a ’BBB’ credit rating, highlighting improvements in the company’s credit metrics and free operating cash flow. The upgrade is based on Uber’s strong earnings growth and solid business execution in 2024, with gross bookings increasing by 21% to about $163 billion and EBITDA reaching $6.5 billion. S&P anticipates Uber’s adjusted free operating cash flow to exceed $5.5 billion by 2025, supporting further growth in earnings and credit metrics. Meanwhile, Citizens JMP has maintained a Market Perform rating on Uber, focusing on the potential impact of autonomous vehicles on the ride-sharing market.
Uber is also expanding its shuttle services, adding new routes to John F. Kennedy International Airport in New York City and planning to launch at Boston Logan International Airport. This expansion follows the successful launch of shuttle services at LaGuardia airport. In the realm of autonomous vehicles, a Bernstein analyst has noted the potential transformation of the rideshare industry by autonomous technology, with significant developments expected around 2025 and 2026. The analyst suggests that Uber’s partnerships with alternative AV providers like Avride and May Mobility could prove crucial in maintaining market competitiveness.
Additionally, Tesla has secured initial approval for a robotaxi service in California, marking a significant step towards launching its autonomous taxi service. As Tesla progresses, it will need to meet further regulatory requirements to operate the service within the state. These recent developments indicate ongoing innovation and strategic moves within both Uber and Tesla as they navigate the evolving transportation landscape.
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