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Does Coach Have It in the Bag?

Shares of luxury handbag maker Coach (COH - Get Report) are up almost 24% year to date, making Coach one of the best-performing stocks in the S&P 500. Can Coach keep winning?

Coach reported fiscal second-quarter results on Jan. 26 and the stock hasn't stopped going higher. Adjusted earnings per share were 68 cents, 2 cents ahead of the consensus estimate driven by better expense control. Revenue rose 4.5% to $1.27 billion.

The company posted a 4% decline in North American same-store sales to $731 million. Growing e-commerce sales pressured store results.

Same-store sales were an improvement over the first quarter when they fell 9.5%. Comps improved because of the company's focus on lower prices, more gifts, accessories and greater discounting at outlet stores...