Yes it does! Switcheroos are happening more and more. It's happened some in dept stores like Macys where the SAs are not so knowledgeable, but it's very strange it could happen at an outlet where there are a lot of Coach employees. Someone there could easily catch it, and my experience has been that managers are knowledgeable regarding their products. They also take great care with returns. I'm not saying it's impossible, but much less likely.
I was told Coach sent some reps to dept stores recently for training on how to tell counterfeits, but the truth is some people simply cannot tell the difference. I also recently found a fake Chloe at Marshalls and fake Dooney and Bourke at TJ Maxx. I think these are the places you have to worry about the most. I turned both in, but I got the impression that they didn't care. I bet both bags went back out on the floor after I left!!