GO - Grocery Outlet shares gain on DoorDash partnership

Grocery Outlet ( NASDAQ: GO ) shares gained sharply on Monday after the announcement of a partnership with DoorDash ( NYSE: DASH ).

The new initiative will offer free, on-demand grocery delivery via DoorDash’s ( DASH ) DashPass membership program at the California-based grocer’s 398 locations. The partnership will also allow DoorDash to reach 1.5M shoppers that frequent Grocery Outlet stores.

“As consumers face rising prices, we're thrilled to partner with Grocery Outlet to provide consumers across the country with a new way to purchase more affordable groceries while maximizing their budgets,” Shanna Prevé, Vice President of Business Development at DoorDash, said. “With this partnership, consumers can find and enjoy even more affordable grocery selection on our marketplace.”

The announcement also highlighted the “Summer of DashPass” promotion that will offer five-weeks of DashPass member-only offers, including a 30% off deal for Grocery Outlet orders of $40 or more from August 18 to 24.

Grocery Outlet ( GO ) shares rose 2.42% in mid-day trading on Monday. DoorDash ( DASH ) shares, by contrast, edged slightly lower.

Read more on the details of the partnership .

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