This type of sale has been mentioned in some older threads here as well.
It's an 'invite only' (I got an e-mail about it on Thursday saying "you have a special invitation to shop
Coach at Rue La La" tomorrow), sounds very much like the E-bay sale they do for Coach as well (by invite only).
I'm not internet savvy so don't quite know how it works but I guess they save cookies on your computer, because when I went to the site the sale was there on the front page, and I hadn't even signed in yet.
Overall on most items, their prices were higher than if you had purchased using a 25 % off PCE....I was tempted by the Haircalf Oceleot Cluch, at $169 but decided to pass. I'll see if I can attach screen shots.
ETA- Sorry all, tried to attached screen grabs but it would only capture one item for some reason, and the prices got dropped off. It was a lot of Legacy stuff basically, with some Madison and a few Poppy pieces thrown in the mix.
2nd edit- OK, I'm starting to calculate and it appears I was wrong- most everything is 30% MSRP....so it is slightly better than PCE discount, by not much...