Dan

Coach is the Real Retail 'Tell' Stock

COH as a "tell" is obfuscated by the fact that they are growing their customer base expanding downward to the middle class by opening up stores in outlet malls, selling items via the Rack, etc. As a brand, it is mainstream. The rich(er) will move on. A better barometer of middle upper class spending can be found via BMWs, TIF, LVHM, WFMI sales in North America.