© Reuters By Dhirendra Tripathi
Investing.com – Shares of DoorDash (NYSE:) and Albertsons Companies (NYSE:) gained during Monday’s trading as the two companies signed an agreement to offer grocery delivery within an hour.
As retail expands and the lines between digital and offline blur with each entering the other’s territory, quicker delivery of groceries is fast turning out to be a challenging turf and one that many are fighting to ace.
DoorDash rose more than 5% and Albertsons over 2%.
DoorDash will use its logistics network to deliver groceries from 2,000 Albertsons stores including Safeway, Vons and Jewel-Osco for orders placed from its marketplace app.
Albertsons will offer more than 40,000 grocery items from stores for delivery via DoorDash, including fresh and prepared food, core grocery, floral and convenience items at select stores.
The partnership includes both immediate and long-term initiatives, including supporting the expansion of Albertsons’ first-party grocery delivery business with DoorDash Drive, launching a custom loyalty program, expanding delivery hours, and offering a unique selection including specialty items, prepared meals, meal kits and new concepts, a DoorDash note said.
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