The Home Depot, Inc. HD is experiencing benefits from its One Home Depot plan, which focuses on expanding the supply chain, technology investments and digital enhancements. The company has been making strategic moves to enrich customers’ experience. 

In the latest move, the company has collaborated with Uber Eats and DoorDash to expedite delivery services. Customers can now avail home-improvement products, including essential tools, building materials and gardening supplies, among others, at their doorsteps via delivery through Uber Eats and DoorDash.

Customers, including professional contractors and do-it-yourself enthusiasts, can browse a wide range of Home Depot products through its more than 2,000 U.S. locations for on-demand or scheduled delivery in real-time. However, prices might vary for these delivery providers given their own fees. The delivery through Uber Eats will have standard delivery charges along with a service fee for orders via the app.

Home Depot has earlier partnered with Instacart, a renowned grocery technology company in North America, to provide same-day delivery. Consumers can now choose from a broader range of home-improvement items on Instacart's platform as well, ranging from garden and building supplies to light fixtures. These items will be delivered directly and quickly to the customers’ doorstep.

Apart from the existing same-day delivery options on homedepot.com, teaming up with Instacart, Uber Eats and DoorDash allows the company to offer flexibility for customers. Such alliances boost its e-commerce capabilities and tap extra sales and higher profits.

More on Home Depot

Home Depot remains focused on expanding its business and is positioned to capture market share. The company has been actively investing in creating a seamless, interconnected experience for customers, enhancing the pro wallet through its unique ecosystem of capabilities and expanding its store footprint. 

The company’s interconnected retail strategy and robust technology infrastructure have consistently increased web traffic for quite some time now. Improved search capabilities, an enhanced Pro site experience and strong fulfillment capabilities have been driving online conversions. This Zacks Rank #2 (Buy) company’s strategy of providing an interconnected experience resonates well with customers.

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Buoyed by such strengths, shares of this home-improvement retailer have gained 21% compared with the industry’s 23.3% growth in a year.

More Key Picks in Retail

We have highlighted three other top-ranked stocks, namely Deckers DECK, Abercombie ANF and Boot Barn BOOT.

Deckers, a footwear and accessories dealer, currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. 

The Zacks Consensus Estimate for Deckers’ current financial-year sales indicates growth of 13.6% from the year-ago figure. DECK delivered an average earnings surprise of 41.1% in the trailing four quarters.

Abercrombie, a leading casual apparel retailer, currently sports a Zacks Rank of 1. ANF delivered an earnings surprise of 16.8% in the last reported quarter. 

The consensus estimate for Abercrombie’s current financial-year sales indicates growth of 13% from the year-ago figure. 

Boot Barn, a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories, currently carries a Zacks Rank of 2. The company has a trailing four-quarter earnings surprise of 6.8%, on average. 

The Zacks Consensus Estimate for Boot Barn’s current financial-year sales indicates growth of 13.4% from the year-ago figure.

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Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report

The Home Depot, Inc. (HD) : Free Stock Analysis Report

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