In the name of full disclosure...as much as I like COH, I just found this article recommending to short COH.
"Retail same-store sales numbers are set to come out on Thursday. Macke warns investors to expect a lot of misses like the one on Tuesday from Childrens Place (PLCE - Cramer's Take - Stockpickr). It's too late to short the retail space and instead he advises buying PLCE here for a trade. Worth likes the high-end retailers for shorts. He recommends shorting Nordstrom (JWN - Cramer's Take - Stockpickr - Rating), Tiffany (TIF - Cramer's Take - Stockpickr - Rating) and Coach (COH - Cramer's Take - Stockpickr - Rating).
COH a bird in the coal mine. It's below its moving averages so that indicates women are cutting back on luxury goods because they can't refinance their homes. Where do shorts come up with this logic anyway?
Another "news" item this morning on TV. It's going to be a cold winter. Heating bills will be up. Nobody will have money to buy Christmas presents. Don't they know that December is only the 3rd coldest month and the heating bills mostly come after Christmas?
Nobody has money to buy things: COST reported SSS of +5%. Looks like the shorts are wrong again, but that's all right. Shorts will just have to step up the bogus "news" reports and play up the worst SSS reports that come in today and tomorrow.
If you look at the track record of the Fast Money contributors, its just sad. They must be short COH. The women I know are always talking about Coach bags-they can't get enough and they are charging their purchases.
I saw this Worth guy say this last night on Fast Money. He's a technician and was basing this on the weak performance of the stock yesterday which in turn was caused by the negative article. Thus the weakness feeds on itself. Is growth slowing? Yeh, Coach has been growing at more than 30% for years, but it will still be a solid 20% grower and I believe it represents good value at this price. This nonsense about the death of the consumer is just that, nonsense.