Today Jim Cramer made a coment on the lightning round that the old adage "the rich don't feel pressure and will always buy". He said that that isn't really holding true for companies like coach, Ralph Lauren..etc...etc.
I would like to know your thoughts. Does anyone have a link to an article that would suggest this old adage is slipping away?
come on, sales is a poor asterisk to define company efficiency and profitability. Sales may even be down this year because of write downs to certain lines of bags. Certain other factors will slow sales this year such as yes, gasoline and food prices, thank you ethanol, so be careful not to hang your hat on only one piece of the puzzle.
First of all a lot of COH's customers are not rich so they are not totally immune from an economic downturn. But this was already baked into the stock. The more negativity I hear from Shills like Cramer the more convinced I am that they are trying to bring it down and keep it there until after the first of the year. They can accumulate it at a depressed price and turn it into next year's winner. Time will tell but I think a lot of folks will be kicking themselves that they didn't swoop up shares when this dipped below 30 yesterday.