Coty earnings top estimates, downplays coronavirus hit; shares surge
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(Reuters) - Coty Inc 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 Corp , to shut stores and limit working hours.Chief Financial Officer..