Coty shares surge 22% after allaying fears of coronavirus impact
05 February 2020 - 22:20
Bengaluru — Coty on Wednesday reported quarterly profit above expectations on Wednesday and said the recent coronavirus outbreak would have a relatively small impact on its earnings, sending the cosmetics and fragrance maker’s shares surging as much as 22%.
The virus, which has killed nearly 500 people and affected hundreds of thousands across the globe, has forced several retailers, including Capri Holdings and Ralph Lauren, to shut stores and limit working hours...
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