It sounds like the item is in stock, so it should ship shortly. Keep in mind there were alot of November PCE purchases made and ordered this week, so they're (JAX) is probably catching up from that extra activity.
I would call again tomorrow for another status, in the event that COACH does not have your email on file to send a shipping confirmation. This time request the order number and check the status on COACH.com under the Customer Service link. Once shipped, your FEDEX tracking number will appear.
FYI, I don't know this for certain, but I have long ago felt that if an order is being gift wrapped that slows down the process. And if there's no gift wrapping, it can quickly be placed in a box, and ships out sooner(?). That's my opinion and I only request gift wrapping if I really need it. My orders generally ship out within 24-48 hours of ordering.
I hope your order arrives soon so you can start to enjoy your purchase!