Coach and Fossil face much of the same headwinds, he added.
“Again, their inventories are sky-high,” he said. “We think margins come way down due to these inventories.”
Trader disclosure: On Sept. 4, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Karen Finerman is long AAPL; Karen Finerman is long BAC CALLS; Karen Finerman is long JPM CALL SPREADS; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is short ANF; Karen Finerman is short NFLX; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long F; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Brian Kelly is long GLD; Brian Kelly is long QQQ; Brian Kelly is long CORN; Brian Kelly is long SOBEANS; Brian Kelly is long WHEAT; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long INTC; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT.
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