With the pullback I've been considering COH for my IRA. I like the growth rate, dividend (+growth), etc, but my wife thinks they are yesterdays luxury brand. You walk into the Coach outlet (Carlsbad) and they hand you coupon after coupon, 25%, 50%, etc with everyone buying many items. And there are a ton of listings on ebay (prob outlet buyers now selling). So, I am thinking their best years are behind them and they will need to go to Costco (or worse) to grow sales which could be the kiss of death for their future. Might just be my small view of the market, but seems FOSL and even GES are doing a better job of protecting their brand and distribution.
I do not feel that COH is over saturated at all. I always buy my COH bags at Bloomingdale's. What they sell at the outlets are a totally diffrent line made for the outlets. I believe they are appealing to several different price points which seems fine to me. They have done what is necessary in this economy. Hang in there and good luck to all longs.