As we progress through earnings season, our latest reporting holding is Coach (COH), which beat estimates and gave positive forward guidance. As I noted earlier this week we pretty much expected this, given the positive news Tiffany had reported. Coach is a very well run company and has done a great job expanding their franchise into the 'affordable luxury' psace. This is enabling them not only to weather the economic slowdown, but is helping them penetrate and gain customers in market segments they had never been in before.
Earnings scorecard for our portfolio holdings is now 2 positive/0 neutal/0 negative.
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