Domino's Pizza Rally on Uber Eats Pact

Domino’s Pizza (DPZ:US) and Uber (UBER:US) announced today a new partnership that will see the customers of the pizza shop chain being able to order products via the Uber Eats and Postmates apps.

The agreement will be implemented starting with a pilot phase, which will initially involve four markets. If successful, the rollout will expand to the rest of the U.S. by the end of 2023.

"We are the leader in the delivery and carryout pizza marketplaces in the U.S. In addition, Domino's sells more food on its digital platform than any pizza company in America,” Domino’s CEO Russell Weiner said in a press release.

“Our research in the U.S. and learnings from 13 of our international markets has shown us that taking orders using the Uber Eats Marketplace provides access for Domino's and its franchisees to a new segment of customers and what we believe will be a meaningful amount of incremental delivery orders once it's widely available."

According to Domino’s, today’s partnership could ultimately result in Uber Eats orders being available in two-thirds of Domino’s stores around the globe. The two companies have as many as 27 markets in common. Orders placed via Uber Eats will be delivered by Domino’s drivers. 

DPZ shares gained on Wednesday as investors believe that the new partnership could provide a meaningful boost to the company’s same-store sales.

Congresswoman Diana Harshbarger was buying the DPZ stock last October when it was trading around the $320 mark. Shares have gained in the meantime, trading at around $385 apiece.

Uber stock was trading mostly flat on Wednesday.