Get A Pumpkin Delivered To Your Home Thanks To Uber: Could Holiday Sales Boost The Stock?

A leading ride-share company has ventured into the delivery of food and other goods. News from the company shows Uber Technologies Inc UBER is ready to help with the holidays in a new business venture.

What Happened: Uber announced the launch of “The Holiday Shop” via its Uber Eats delivery segment.

“This Halloween season, Uber Eats is launching the first in a series of holiday pop-ups to help customers order pumpkins right to their doorsteps — ready to carve and put on display,” the company said.

Uber will launch “The Holiday Shop” in select markets beginning Oct. 1. The cities listed include Los Angeles, San Diego and West Palm Beach.

The service will offer Halloween-themed items including pumpkins and decorating/carving kits.

After Halloween is over, “The Holiday Shop” will transition to providing Christmas goods and services to customers.

The plan is for Uber to “rotate seasonally and expand to more U.S. consumers,” according to the press release.

“With groceries, convenience, alcohol and other must-haves like wellness products, pet essentials and now seasonal holiday must-haves, Uber is focused on helping consumers, around the globe, get more,” the company said.

Related Link: 7 Uber Analysts Break Down Q2 Earnings: Risk Is Passing And Stock Oversold 

Why It’s Important: Created as a ride-share company, Uber has evolved over time to offer additional services and build out its customer base.

The company transitioned into offering delivery of food and goods from stores and also providing alcohol delivery in some markets.

With the holiday shopping offerings, Uber could see an uptick in customers and revenue in the fourth quarter that will include major shopping holidays of Halloween, Thanksgiving and Christmas.

Uber reported second-quarter gross bookings of $21.9 billion, up 114% year-over-year. Mobility revenue was up 106% year-over-year and delivery revenue was up 122% year-over-year.

The delivery segment has performed well and helped the company minimize the impact of COVID-19 pandemic-related disruptions to its mobility business.

Uber is expected to report third-quarter earnings in November, which could offer a better look at the season offerings and the impact it could have on financials.

UBER Price Action: Uber shares are down 0.83% to $44.15 on Thursday morning.