Problems With Luxury Goods?

We've all seen the polls which basically suggest that the rich (and many Republicans) think the economy is doing very well while the poor (and many Democrats) think we're already in a recession.

For years now, we've seen evidence of this view by the luxury goods retailers who continue to outperform while the Wal-Marts of the world struggle. But, today, the bears are feasting on weak guidance from the Crème de la Crème of luxury retailers: Coach (COH)

You may think the economy is fine, but when Wall Street sees Coach take a tumble, rest assure they take notice and will be on high alert for confirmation in other companies. In fact, one can argue that this move today is far more important than what is going on over at Apple (AAPL) which continues to make its own economy.