European nail care demand drives Coty's profit beat; shares jump 10%
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(Reuters) - Coty Inc beat Wall Street estimates for quarterly profit and revenue on Wednesday as it sold more nail care products to salons and beauty professionals in Europe, sending its shares up 10% in premarket trading.The cosmetics maker, which is majority owned by German conglomerate JAB Holdings, said it would take a hit from the coronavirus outbreak, but it was still early to estimate the impact.Strong demand for nail care products such as OPI in Europe drove a 0.6% rise in sales in its..