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I am concerned about the future for COH. A few years ago, I bought in as they were growing at 20+% a year, were an undoubted style and category leader, and same store sales growing quickly.

I visited some mall stores and they were always busy. The sales people knowledgable and helpful.

I loved the stock and the company for a long time.

But about two years ago it started to go south. Comps starting going flat and turned negative. North america is in turmoil.

I visited stores again and they were EMPTY. Like not a single customer in the store!

I sold out on 9/6/13 at 53 and change.

My daughters are all aware of kate and kore and some non-public brands that are hot. Coach isn't even on their radar screen.

I think they have lost their way. Many blame the outlet strategy and maybe that is true. Certainly the bears were warning about that all along and I was blissfully ignoring it when the sp was over 70.

I am thinking it all starts with the products. Are they innovative enough, cool enough, eye catching enough? Is the marketing what it needs to be? Do young women envy other women having coach products? I doubt it.

I think its a really risky investment right now. They are in free-fall. I'll be waiting to see momentum turn. Same store sales stabilizing, good product momentum, and busy stores!

There are still some great things about this business. I hope they get some fire in their bellies and turn this thing around.

Rob
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