Coronavirus hit to beauty sector will be worse than SARS

Estee Lauder and L’Oreal lower profit outlook Cosmetics companies Estee Lauder and L’Oreal said they’ve taken financial hits because of the outbreak. Estee Lauder lowered its profit outlook fiscal 2020 from between $5.85 and $5.93 per share to between $5.60 and $5.70 per share,…