Financial News

Novartis has commenced a strategic review of its Sandoz division and will explore all options ranging from retaining the business to separation, according to Reuters.

According to the retailer’s just-released earnings report, its net income closed in on $300 million for the quarter, up from $284.5 million this time last year to reach $295.2 million.

The retailer will invest $5.2 billion in VillageMD, increasing its ownership stake in the company from 30% to 63%.

Costco’s September sales increased 15.8% to $19.50 billion, same-store sales increased 14.3%, and online sales rose 10.6%.

The retailer reported that its fourth-quarter net sales rose 17.5% to $61.44 billion, just topping estimates of $61.41 billion, compared to $53.38 billion last year.

CosPro Agency, now known as CosProXM, is expanding its services to offer live market and brand activations, the company said.

Rite Aid raised its full-year EBITDA guidance on the strength of its second-quarter results, which showed improved revenue and retail pharmacy strength even as it posted a net loss of $100.3 million.