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Costco surpasses analyst estimates in earnings
Costco earned $640 million, $1.45 a share, in the quarter ended November 26, compared with $545 million, or $1.24 a share, in the year-ago period. Analysts had expected earnings of $1.33 a share.
Net sales rose 13.3% to $31.12 billion, better than analysts expected. Total same-store sales 10.5%.
Costco’s comparable E-commerce sales jumped 43.5%. The increase comes as the retailer has been investing to grow its digital capabilities, including a partnership with delivery service firm Instacart to offer two-day and same-day delivery.
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McKesson’s Dimos takes the reigns of Health Mart
McKesson mainstay Chris Dimos has been promoted to president retail solutions for McKesson U.S. Pharmaceutical and Specialty Health, where he will assume responsibility for Health Mart, following the departure of former Health Mart president Steve Courtman. Courtman is now senior vice president of Cigna Pharmacy for Cigna.
Dimos has long been a champion of independent pharmacy, noting in an interview earlier this year that the independent pharmacy business model is still strong.