Domino's partners with Uber for food orders; shares rise

(Reuters) — Domino's Pizza on Wednesday said it had entered into a new agreement with Uber that will allow customers to order Domino's products through Uber's food delivery apps.

Shares of the pizza maker were up 7% in pre-market trading, while Uber was up 2%.

The company said the agreement allows U.S. customers to order Domino's products through Uber Eats and Postmates apps with Domino's and its franchisees handling the delivery.

Domino's has been raising prices on menu items and increasing delivery charges in a bid to shield margins from high input costs.

In April, the world's largest pizza chain warned of a slowdown in its delivery business as customers turned towards cooking cheaper meals at home amid a sticky cost of living crisis.

(Reporting by Granth Vanaik and Juveria Tabassum in Bengaluru; Editing by Janane Venkatraman)