Burberry sent chills down the spine of luxury goods investors recently, when their CEO guided lower for the year, citing slower revenue growth, flat same store sales, and concerns about China's slowdown. Shares fell 21% on the news and dragged down many other luxury goods stocks with it, including Coach (NYS: COH) and Michael Kors (NYS: KORS) .

Investors shouldn't jump the gun here, though, Burberry's problem doesn't resonate with these other companies as much as their management may suggest. Michael Kors and Fifth and Pacific are still domestically focused, and Coach still has the crucial brand position as "aspirational luxury," which will be the key to their success in China and elsewhere.

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The article Should You Abandon These Stocks Now? originally appeared on Fool.com.

Austin Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Coach. Motley Fool newsletter services recommend Coach. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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