Costco Expands Same-Day Delivery via Uber and DoorDash Nationwide
COST is trading near its 52-week low of $844.06 (5.4% above the low) on light trading volume (0.2× avg).
Summary
Costco is significantly expanding its same-day delivery network by deepening partnerships with Uber and DoorDash. Uber will now deliver Costco products in 47 U.S. states, up from 17, and DoorDash will begin delivering from all U.S. Costco locations. This broadens Costco's e-commerce reach beyond its existing Instacart partnership, potentially boosting membership value and online sales. The move follows strong recent sales momentum, with August net sales up 9.9% and Q4 net sales up 11.3% year-over-year. While shares were flat on the news, the expanded delivery footprint could support future comparable sales growth and competitive positioning against rivals like Amazon and Walmart.
At the time of this announcement, COST was trading at $890.02 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $394.7B. The 52-week trading range was $844.06 to $1,096.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.