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Albertsons (ACI), Uber Extend Deal to Expedite Grocery Delivery
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In a bid to leverage continued momentum in online grocery delivery, Albertsons Companies, Inc. (ACI - Free Report) expanded its partnership with Uber Technologies (UBER - Free Report) to offer delivery services across more than 2000 stores via Uber Eats. The move will add 800 stores, including Albertsons, Safeway, Jewel-Osco, ACME, Tom Thumb, and Randalls. With the expansion plan, customers from Connecticut, Indiana, New Hampshire, Utah, Vermont and Rhode Island will now be able to order items found in Albertsons stores from the app.
Uber launched grocery delivery across the United States in 2020 amid the online boom stemming from the pandemic-led stay-at-home restrictions. Since then, the company has been offering easy and fast delivery of products to customers’ doorsteps. The expansion of its partnership with ACI is likely to aid the same. Prior to this, Albertsons collaborated with Instacart for rush delivery and DoorDash for the delivery of prepared and ready-to-eat offerings.
ACI’s consumers can use 'express' lanes within the convenience section of the app to order their favorite items. Those with Uber One membership also have the benefit of zero delivery fee for all convenience orders (minimum purchase $15) from Albertsons' express stores. ACI revealed plans to launch member pricing and promotions on grocery orders later this year. Members of its loyalty programs, such as Albertsons for U and Safeway for U, can earn loyalty points on purchases by linking their accounts in the Uber Eats app.
Keeping in these lines, the company, through its “just for U” loyalty program, has been acquiring customers and retaining old members, as well as incentivizing them to spend more and buy often. Also, management’s focus on providing efficient in-store services, enhancing digital and omni-channel capabilities and a favorable consumer backdrop remain key growth drivers. Some notable efforts include a unified mobile application, digital wallet, AI chat capability, expanded self-checkout installations, and store fleet modernization. The company’s right assortment in each local market, loyalty program, and ease of checkout through frictionless and contactless payments have been aiding in attracting customers.
Earlier, it rolled out two digital offerings — Meal Planning, and Schedule & Save. The Meal Planning digital tool offers a convenient and personalized way to plan meals and cook recipes developed by professional chefs and dietitians. The Schedule & Save feature enables the auto-replenishment of grocery and household essentials at a discount. Albertsons Companies has also partnered with Afresh Technologies, whereby it will use the latter’s AI-powered solutions to enhance fresh offerings and enable store associates to better predict demand and monitor inventory position.
Image Source: Zacks Investment Research
All said, we expect strategic efforts to expand the business, particularly in the online grocery space, to boost Alberstons’ growth in the near term. Shares of this Zacks Rank #3 (Hold) company have gained 11.7% in the past three months against the industry’s decline of 7.8%.
McCormick is one of the leading manufacturers, marketers and distributors of spices, seasonings, specialty foods and flavors. It also currently carries a Zacks Rank #2 (Buy). It has an expected long-term earnings growth rate of 6.1%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for McCormick’s current financial-year sales and EPS suggests growth of 5% and 3.9%, respectively, from the year-ago period’s reported figures. MKC has a trailing four-quarter earnings surprise of 7.3%, on average.
Duckhorn, a premier producer of wines in North America, currently has a Zacks Rank #2 and an expected long-term earnings growth rate of 11.3%. NAPA has a trailing four-quarter earnings surprise of 122.4%, on average.
The Zacks Consensus Estimate for Duckhorn’s current financial-year sales and earnings per share suggests growth of 9.6% and 3.5%, respectively, from the year-ago reported numbers. The consensus mark for NAPA’s earnings per share has been unchanged in the past 30 days.
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Albertsons (ACI), Uber Extend Deal to Expedite Grocery Delivery
In a bid to leverage continued momentum in online grocery delivery, Albertsons Companies, Inc. (ACI - Free Report) expanded its partnership with Uber Technologies (UBER - Free Report) to offer delivery services across more than 2000 stores via Uber Eats. The move will add 800 stores, including Albertsons, Safeway, Jewel-Osco, ACME, Tom Thumb, and Randalls. With the expansion plan, customers from Connecticut, Indiana, New Hampshire, Utah, Vermont and Rhode Island will now be able to order items found in Albertsons stores from the app.
Uber launched grocery delivery across the United States in 2020 amid the online boom stemming from the pandemic-led stay-at-home restrictions. Since then, the company has been offering easy and fast delivery of products to customers’ doorsteps. The expansion of its partnership with ACI is likely to aid the same. Prior to this, Albertsons collaborated with Instacart for rush delivery and DoorDash for the delivery of prepared and ready-to-eat offerings.
ACI’s consumers can use 'express' lanes within the convenience section of the app to order their favorite items. Those with Uber One membership also have the benefit of zero delivery fee for all convenience orders (minimum purchase $15) from Albertsons' express stores. ACI revealed plans to launch member pricing and promotions on grocery orders later this year. Members of its loyalty programs, such as Albertsons for U and Safeway for U, can earn loyalty points on purchases by linking their accounts in the Uber Eats app.
Keeping in these lines, the company, through its “just for U” loyalty program, has been acquiring customers and retaining old members, as well as incentivizing them to spend more and buy often. Also, management’s focus on providing efficient in-store services, enhancing digital and omni-channel capabilities and a favorable consumer backdrop remain key growth drivers. Some notable efforts include a unified mobile application, digital wallet, AI chat capability, expanded self-checkout installations, and store fleet modernization. The company’s right assortment in each local market, loyalty program, and ease of checkout through frictionless and contactless payments have been aiding in attracting customers.
Earlier, it rolled out two digital offerings — Meal Planning, and Schedule & Save. The Meal Planning digital tool offers a convenient and personalized way to plan meals and cook recipes developed by professional chefs and dietitians. The Schedule & Save feature enables the auto-replenishment of grocery and household essentials at a discount. Albertsons Companies has also partnered with Afresh Technologies, whereby it will use the latter’s AI-powered solutions to enhance fresh offerings and enable store associates to better predict demand and monitor inventory position.
Image Source: Zacks Investment Research
All said, we expect strategic efforts to expand the business, particularly in the online grocery space, to boost Alberstons’ growth in the near term. Shares of this Zacks Rank #3 (Hold) company have gained 11.7% in the past three months against the industry’s decline of 7.8%.
Stocks to Consider
We highlighted some better-ranked stocks from the broader Consumer Staples space, namely The Duckhorn Portfolio (NAPA - Free Report) and McCormick & Company (MKC - Free Report) .
McCormick is one of the leading manufacturers, marketers and distributors of spices, seasonings, specialty foods and flavors. It also currently carries a Zacks Rank #2 (Buy). It has an expected long-term earnings growth rate of 6.1%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for McCormick’s current financial-year sales and EPS suggests growth of 5% and 3.9%, respectively, from the year-ago period’s reported figures. MKC has a trailing four-quarter earnings surprise of 7.3%, on average.
Duckhorn, a premier producer of wines in North America, currently has a Zacks Rank #2 and an expected long-term earnings growth rate of 11.3%. NAPA has a trailing four-quarter earnings surprise of 122.4%, on average.
The Zacks Consensus Estimate for Duckhorn’s current financial-year sales and earnings per share suggests growth of 9.6% and 3.5%, respectively, from the year-ago reported numbers. The consensus mark for NAPA’s earnings per share has been unchanged in the past 30 days.