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Wedgewood Partners Comments on Coach

We also exited our positions in Coach ( NYSE:COH ) as we have seen the Company's international unit, particularly in China, dramatically slow (on a constant currency basis). Relatively speaking, their results in China are still exceptional. Coach competes well below the price points of higher-end luxury players, and therefore has avoided the negative side effects of the Chinese Government's corruption crackdown that has curtailed a wide swath of demand for higher-end luxury goods. However, on an absolute basis, we find it marginally more difficult to make the case for Coach's long-term, double-digit earnings per share growth rate.

From Wedgewood Partners' fourth quarter 2015 client letter .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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