From 1990 the code is two letters and four digits, and it keeps that shape after 2007. What changed in 2007 is the meaning of the first and third digits. Fashionphile and The RealReal both read them as the month before 2007 and as the week from 2007.
So read the year first. The second and fourth digits give the year. If they give 90 to 99 or 00 to 06, use the month rule. If they give 07 to 21, use the week rule.
Take TH0934. Its year digits are 9 and 4, so it follows the 1990s month rule, and its first and third digits, 0 and 3, give month 03. Read with the week rule it would become the third week of 1994. Some guides read 1990s codes that way.
The month rule also gives a check the week rule does not. Months run from 01 to 12, so a 1990s code whose first and third digits give 13 or more does not fit its format. The decoder says so rather than reading it again as a week.
Either way, this is what the code says. It is not proof of when a particular bag was made.