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Are Coach Investors in for a Rough Ride?

Handbag maker Coach (COH) reports fourth-quarter fiscal 2016 earnings before the open on Tuesday. But investors could be in for a rough ride.

Shares of Coach are up 27% in the last year, as the company has climbed its way out of the hole it created last summer. Investors are anticipating a positive North American same-store sales figure. On a previous call, the company guided analysts to 2.5%. If the company can hit that figure...