premium items such as coach are not holding up well as they described indicating heavy downgrades by consumers. just like wal-mart for a decrease in consumer dicretionary items.
WSJ.com Mobile Reader user sthokandar@gmail.com wanted you to see this:
"Coach cuts second-quarter guidance on poor holiday sales"
SAN FRANCISCO (MarketWatch) -- Coach Inc. said late Thursday that it will fall short of its forecast fiscal second-quarter guidance because of poor holiday sales. The handbag and accessories maker said it expects a second-quarter profit of about 67 cents a share, well under its previously forecast 77 cents a share, or last year's profit of 69 cents a share. Sales for the second quarter fell 2% to $960 million from $978 million last year. The company had forecast second-quarter sales of about $1.05 billion. Analysts surveyed by FactSet Research estimated 75 cents a share on revenue of $1.05 billion. Shares of Coach dropped 6.7% to $19.51 in after-hours activity.
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