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Uber Eats adds The Vitamin Shoppe for on-demand supplement delivery

EditorEmilio Ghigini
Published 2024-04-04, 08:36 a/m
© Reuters
UBER
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SAN FRANCISCO - In a move to expand its delivery offerings, Uber Eats has partnered with The Vitamin Shoppe to provide on-demand and scheduled delivery of nutritional supplements and products across the United States. The new service, which launches today, will include approximately 700 The Vitamin Shoppe and Super Supplements locations accessible via the Uber Eats app.

The collaboration marks The Vitamin Shoppe's initiative to extend its reach and cater to consumers' evolving shopping preferences, emphasizing convenience and immediacy. Muriel Gonzalez, President of The Vitamin Shoppe, highlighted the company's digital-first approach and commitment to transformation, aiming to meet customers' needs for quick access to health and wellness products.

Uber Eats users can now browse and order a wide range of vitamins, supplements, sports nutrition, and healthy snacks from The Vitamin Shoppe's extensive product lineup. The partnership also allows customers to earn cash back rewards through The Vitamin Shoppe's Healthy Awards® loyalty program when placing orders on the app.

Additionally, Uber One members will enjoy perks such as no delivery fees and discounts on eligible orders with a minimum purchase. A promotional offer is also available through May 31, 2024, where consumers can use a specific code to receive a significant discount on larger orders.

Beryl Sanders, Director of US Grocery & Retail partnerships at Uber, expressed excitement about fulfilling consumers' immediate nutrition needs through the integration of The Vitamin Shoppe on the Uber Eats platform. The service aims to deliver products to customers' doorsteps within hours, if not minutes.

This partnership positions The Vitamin Shoppe as Uber's first national nutritional supplement retailer on the app, joining other retailers like Party City and Big Lots (NYSE:BIG). Uber continues to strive toward its mission of delivering a variety of products on-demand, catering to the growing consumer demand for time-saving delivery solutions.

The information in this article is based on a press release statement from Uber Technologies (NYSE:UBER).

InvestingPro Insights

As Uber Technologies expands its delivery services through a strategic partnership with The Vitamin Shoppe, the company's financial health and market position remain critical for investors and industry observers. According to recent data from InvestingPro, Uber boasts a substantial market capitalization of $159.87 billion, reflecting its significant presence in the market. Despite a high P/E ratio of 82.94, the company's net income is expected to grow this year, which could be an optimistic sign for investors looking for growth potential in the tech and transportation sectors.

An intriguing aspect of Uber's financial metrics is its PEG ratio, which stands at 0.72 for the last twelve months as of Q4 2023. This suggests that Uber's stock may be undervalued relative to its earnings growth, a point that might interest value-oriented investors. Additionally, with a revenue growth of 16.95% during the same period, Uber demonstrates its ability to expand its top-line figures, potentially signaling a robust business model that can adapt to new market opportunities, such as the recent deal with The Vitamin Shoppe.

Among the various InvestingPro Tips, two particularly stand out in relation to the article's context. Firstly, analysts have revised their earnings upwards for the upcoming period, indicating a positive outlook on Uber's financial performance following its new initiatives. Secondly, Uber is recognized as a prominent player in the Ground Transportation industry, which could be further solidified by its foray into the health and wellness retail space through its latest collaboration.

For readers interested in a deeper dive into Uber's financials and market prospects, InvestingPro offers an array of 15 additional InvestingPro Tips that can be accessed through their platform. To enhance your investment research experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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