No, unfortunately they don't. They send the bags straight to the outlets, back to JAX, or to another store, depending on the style. The only thing that ever goes on sale in the Coach stores themselves is the shoes.
Yes and no.... They never advertise sales anywhere...store or online. However, they do sometimes put items on sale. These are just a couple of specific items...like around the holidays they put the large Bleecker duffles on sale online and in the store. I didn't know that at the time I was at the store, and my SA didn't tell me either (despite the fact she knew I was interested in the duffle). Consequently I didn't buy it from her, but came home and bought it on eBay for cheaper. IMO it's bad business because not advertising means you miss many sale opportunities! Why have sales if you don't want to sell, image or not?? Even with the PCE event, that whole thing is so screwed up! If they handled that properly, it would better their image AND increase sales. Oh, and they also do put shoes on sale periodically. Right now there's a large amount on sale in the boutiques. Some are very cheap.
I was looking at a sig belted ergo flap hobo last Christmas online for days. One day, the price showed up $100 less than normal so I assumed it was on sale. I made another assumption that it was on sale at my local boutique. I went there and it was still the higher price. So I asked the SA to browse the online store right there at the boutique so she could see the lower price. After she saw the same style number and the lower price, she gave me purse at that lower price. Still don't know if this was an online sale or some kind of typo. But I got the bag :)