Coach (COH -0.4%) has increasingly relied on outlet business for North American sales (60% today...

|By:, SA News Editor

Coach (COH -0.4%) has increasingly relied on outlet business for North American sales (60% today vs. 30% in 2006), says Cowen's Faye Landes, and it could present a challenge as consumers increasingly view the company as "off-price." The "hurdle" is especially important given incoming CEO Victor Luis' intent to make the company more of a luxury player. Ahead of next week's earnings, Landes continues to see slowing demand among young female shoppers as well as among those who purchase 2 or 3 bags per year.