Remy Cointreau shares slump after sales drop, coronavirus concern
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PARIS (Reuters) - Remy Cointreau wiped almost half a billion dollars off its stock market value on Friday after posting a sharp drop in quarterly sales and warning over the potential impact of the coronavirus outbreak on demand for its premium cognac in China.The French-based maker of Remy Martin cognac and Cointreau liquor posted a worse than expected 11.3% fall in like for like third-quarter sales and suspended its outlook guidance as newly installed chief Eric Vallat takes stock of its..