Tech firm Uber (UBER) has partnered with Designer Brands Inc. (DBI), the parent company of DSW, to make shoes and accessories available for delivery through the Uber Eats app. Indeed, nearly 500 DSW stores across the continental United States are now included on the platform. The partnership allows users to browse and order footwear and accessories for same-day or scheduled delivery.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
DSW’s offerings on Uber Eats include a range of products for men, women, and children, from popular brands like Steve Madden (SHOO), Adidas (ADDYY), Blundstone, and Goodr. Shoppers can also find accessories such as socks and handbags. Interestingly, items can be delivered in as little as one hour in many areas, and Uber One members will continue to receive benefits such as $0 delivery fees on eligible orders.
It is worth noting that this partnership is part of Uber’s plan to grow its presence in retail and non-food categories. In fact, the company has been expanding its delivery options to include more everyday goods, such as beauty products and household items. As a result, Uber’s Head of Retail for North America, Hashim Amin, noted that the DSW collaboration looks to meet the customer demand for convenient access to fashion items, especially in situations where time is limited.
Is UBER Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on UBER stock based on 26 Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average UBER price target of $109.59 per share implies 18.2% upside potential.
