Swiss hearing aid maker Sonova is resuming supplies to Costco, a source with knowledge of the matter told Reuters on Monday.
Its shares rose as much as 7 per cent to their highest in more than two years.The product to be sold at Costco, a prescription hearing aid by the name of Sennheiser Sonite R which was specifically designed for the retailer, will initially be available in 107 locations in the United States, with a gradual expansion expected in the future, the source said.
The source added that it is typical for Costco to test sales of a product in a number of warehouses before a broader roll out.The comments come after analysts at J.P.
Morgan wrote in a note to clients that online reports on Friday had said Sonova was expected to replace Rexton as a supplier to Costco, after the Swiss company's previous agreement with the retailer was discontinued in 2022."I think there is the expectation already in terms of what the analysts are writing, that this will be, I mean, a gradual ramp-up," the source said.J.P.