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Document and Entity Information (USD $)
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12 Months Ended | ||
|---|---|---|---|
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Jul. 03, 2010
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Aug. 06, 2010
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Dec. 26, 2009
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| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Jul. 03, 2010 | ||
| Document Fiscal Year Focus | 2010 | ||
| Document Fiscal Period Focus | FY | ||
| Trading Symbol | COH | ||
| Entity Registrant Name | COACH INC | ||
| Entity Central Index Key | 0001116132 | ||
| Current Fiscal Year End Date | --07-03 | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Common Stock, Shares Outstanding | 297,406,007 | ||
| Entity Public Float | $ 11,500,000,000 |
| X | ||||||||||
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements this will be the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type should be limited to the same value as the supporting SEC submission type. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, NCSR, N-Q, and Other. No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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| X | ||||||||||
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of APIC associated with common AND preferred stock. For APIC associated with only common stock, use the element Additional Paid In Capital, Common Stock. For APIC associated with only preferred stock, use the element Additional Paid In Capital, Preferred Stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. This caption alerts the reader that one or more notes to the financial statements disclose pertinent information about the entity's commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward should be presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). No definition available.
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. No definition available.
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| X | ||||||||||
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- Definition
Total of all Liabilities and Stockholders' Equity items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle). No definition available.
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet due to materiality considerations. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Dollar value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Jul. 03, 2010
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Jun. 27, 2009
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|---|---|---|
| Trade accounts receivable, allowances | $ 6,965 | $ 6,347 |
| Preferred stock, authorized | 25,000,000 | 25,000,000 |
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, issued | 0 | 0 |
| Common stock, authorized | 1,000,000,000 | 1,000,000,000 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, issued | 296,867,247 | 318,006,466 |
| Common stock, outstanding | 296,867,247 | 318,006,466 |
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Jul. 03, 2010
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Jun. 27, 2009
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Jun. 28, 2008
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| Net sales | $ 3,607,636 | $ 3,230,468 | $ 3,180,757 |
| Cost of sales | 973,945 | 907,858 | 773,654 |
| Gross profit | 2,633,691 | 2,322,610 | 2,407,103 |
| Selling, general and administrative expenses | 1,483,520 | 1,350,697 | 1,259,974 |
| Operating income | 1,150,171 | 971,913 | 1,147,129 |
| Interest income, net | 1,757 | 5,168 | 47,820 |
| Income before provision for income taxes and discontinued operations | 1,151,928 | 977,081 | 1,194,949 |
| Provision for income taxes | 416,988 | 353,712 | 411,910 |
| Income from continuing operations | 734,940 | 623,369 | 783,039 |
| Income from discontinued operations, net of income taxes (See note on discontinued operations) | 16 | ||
| Net income | $ 734,940 | $ 623,369 | $ 783,055 |
| Basic | |||
| Continuing operations | $ 2.36 | $ 1.93 | $ 2.20 |
| Discontinued operations | $ 0.00 | ||
| Net income | $ 2.36 | $ 1.93 | $ 2.20 |
| Diluted | |||
| Continuing operations | $ 2.33 | $ 1.91 | $ 2.17 |
| Discontinued operations | $ 0.00 | ||
| Net income | $ 2.33 | $ 1.91 | $ 2.17 |
| Shares used in computing net income per share | |||
| Basic | 311,413 | 323,714 | 355,731 |
| Diluted | 315,848 | 325,620 | 360,332 |
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- Details
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| X | ||||||||||
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- Definition
The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. No definition available.
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the reporting entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items and cumulative effects of changes in accounting principles, but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of income (loss) from continuing operations per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of income (loss) from continuing operations available to each share of common stock outstanding during the reporting period and each share that would have been outstanding assuming the issuance of common shares for all dilutive potential common shares outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of income (loss) from disposition of discontinued operations, net of related tax effect, per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of income (loss) from discontinued operations, net of related tax effect, per each diluted share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares of stock held by shareholders. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the amount of recognized share-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax benefit associated with any share-based compensation plan other than an employee stock ownership plan (ESOP). The tax benefit results from the deduction by the entity on its tax return for an award of stock that exceeds the cumulative compensation cost for common stock or preferred stock recognized for financial reporting. Includes any resulting tax benefit that exceeds the previously recognized deferred tax asset (excess tax benefits). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cumulative net-of-tax effect of initial adoption of FIN 48 - Accounting for Uncertainty in Income Taxes on the opening balance of retained earnings. The cumulative-effect adjustment does not include items that would not be recognized in earnings, such as the effect of adopting this Interpretation on tax positions related to business combinations. The amount of that cumulative-effect adjustment is the difference between the net amount of assets and liabilities recognized in the statement of financial position prior to the application of this Interpretation and the net amount of assets and liabilities recognized as a result of applying the provisions of this Interpretation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cumulative effect of initial adoption of new accounting principle on beginning retained earnings, net of tax. This element can be used, generally, for the adjustment to retained earnings of a new accounting principle. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cumulative effect of initial adoption of Statement of Financial Accounting Standard 158 (FAS No. 158), Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans on beginning retained earnings, net of tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash dividends declared by an entity during the period for all classes of stock (common, preferred). This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net changes to accumulated comprehensive income during the period related to benefit plans, after tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity for the period being reported, net of tax. If an entity's functional currency is a foreign currency, translation adjustments result from the process of translating that entity's financial statements into the reporting currency. Includes gain (loss) on foreign currency forward exchange contracts. Includes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. Includes the gain or loss on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain or loss under FAS 52 and that have been designated and have qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued during the period as a result of any share-based compensation plan other than an employee stock ownership plan (ESOP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock issued during the period as a result of any share-based compensation plan other than an employee stock ownership plan (ESOP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased and retired during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). No definition available.
|
| X | ||||||||||
|
- Definition
Transactions that do not result in cash inflows or outflows in the period in which they occur, but affect net income and thus are removed when calculating net cash flow from operating activities using the indirect cash flow method. This element is used when there is not a more specific and appropriate element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. No definition available.
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change between the beginning and ending balance of cash and cash equivalents. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. No definition available.
|
| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from share-based compensation recognized in financial statements. This element reduces net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate amount of obligations due within one year (or one business cycle). This may include trade payables, amounts due to related parties, royalties payable, and other obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in other operating assets not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net change during the reporting period in other operating obligations not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period for interest owed on money borrowed; includes amount of interest capitalized Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fair value of loans assumed in noncash investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow (outflow) from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the entity's earnings to the shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for acquisition of buildings (properties) whether for investment or use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of all investments (debt, security, other) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total cash inflow associated with the amount received from holders to acquire the entity's shares under incentive and share awards, including stock option exercises. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the sale, maturity and collection of all investments such as debt, security and so forth during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
NATURE OF OPERATIONS
|
24 Months Ended |
|---|---|
|
Jul. 03, 2010
|
|
| NATURE OF OPERATIONS |
1. NATURE
OF OPERATIONS
Coach,
Inc. (the “Company”) designs and markets high-quality,
modern American classic accessories. The Company’s
primary product offerings, manufactured by third-party suppliers,
include handbags, women’s and men’s accessories,
footwear, business cases, jewelry, wearables, sunwear, travel bags,
fragrance and watches. Coach’s products are sold
through the Direct-to-Consumer segment, which includes
Company-operated stores in North America, Japan, Hong Kong, Macau
and mainland China, the Internet and the Coach catalog, and through
the Indirect segment, which includes sales to wholesale customers
and distributors in over 20 countries, including the United States,
and royalties earned on licensed products.
|
| X | ||||||||||
|
- Definition
Describes the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Disclosures about the nature of operations need not be quantified; relative importance could be conveyed by use of terms such as "predominately", "about equally", or "major and other". This element is also referred to as "Business Description". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
SIGNIFICANT ACCOUNTING POLICIES
|
24 Months Ended |
|---|---|
|
Jul. 03, 2010
|
|
| SIGNIFICANT ACCOUNTING POLICIES |
2. SIGNIFICANT
ACCOUNTING POLICIES
Fiscal Year
The
Company’s fiscal year ends on the Saturday closest to June
30. Unless otherwise stated, references to years in the
financial statements relate to fiscal years. The fiscal
year ended July 3, 2010 (“fiscal 2010”) was a 53-week
period. The fiscal years ended June 27, 2009
(“fiscal 2009”) and June 28, 2008 (“fiscal
2008”) were each 52-week periods. The fiscal year
ending July 2, 2011 (“fiscal 2011”) will be a 52-week
period.
Use of Estimates
The
preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial
statements as well as the reported amounts of revenues and expenses
during the reporting period. The level of uncertainty in
estimates and assumptions increases with the length of time until
the underlying transactions are completed. Actual
results could differ from estimates in amounts that may be material
to the financial statements.
Principles of Consolidation
The
consolidated financial statements include the accounts of the
Company and all 100% owned subsidiaries. All significant
intercompany transactions and balances are eliminated in
consolidation.
Cash and Cash Equivalents
Cash
and cash equivalents consist of cash balances and highly liquid
investments with a maturity of three months or less at the date of
purchase.
Investments
Investments
consist of U.S. government and agency debt securities as well as
municipal government and corporate debt
securities. Long-term investments are classified as
available-for-sale and recorded at fair value, with unrealized
gains and losses recorded in other comprehensive
income. Dividend and interest income are recognized when
earned.
Short-term
investments consist of commercial paper and treasury bills, the
adjusted book value of the commercial paper and treasury bills
equals its fair value. As the Company does not have the
intent to sell and will not be required to sell these securities
until maturity, investments are classified as held-to-maturity and
stated at amortized cost.
Concentration of Credit Risk
Financial
instruments that potentially expose Coach to concentration of
credit risk consist primarily of cash and cash equivalents,
investments and accounts receivable. The Company places
its cash investments with high-credit quality financial
institutions and currently invests primarily in U.S. government and
agency debt securities, municipal government and corporate debt
securities, and money market funds placed with major banks and
financial institutions. Accounts receivable is generally
diversified due to the number of entities comprising Coach’s
customer base and their dispersion across many geographical
regions. The Company believes no significant
concentration of credit risk exists with respect to these cash
investments and accounts receivable.
Inventories
Inventories consist primarily of finished goods and are valued at the lower of
cost (determined by the first-in, first-out method) or
market. Inventory costs include material, conversion
costs, freight and duties.
Property and Equipment
Property and equipment are stated at cost less accumulated
depreciation. Depreciation is calculated on a
straight-line basis over the estimated useful lives of the
assets. Buildings are depreciated over 40
years. Machinery and equipment are depreciated over
lives of five to seven years and furniture and fixtures are
depreciated over lives of three to five years. Leasehold
improvements are amortized over the shorter of their estimated
useful lives or the related lease terms. Maintenance and
repair costs are charged to earnings as incurred while expenditures
for major renewals and improvements are
capitalized. Upon the disposition of property and
equipment, the cost and related accumulated depreciation are
removed from the accounts.
Operating Leases
The Company’s leases for office space, retail stores and the
distribution facility are accounted for as operating
leases. The majority of the Company’s lease
agreements provide for tenant improvement allowances, rent
escalation clauses and/or contingent rent
provisions. Tenant improvement allowances are recorded
as a deferred lease credit on the balance sheet and amortized over
the lease term, which is consistent with the amortization period
for the constructed assets. Rent expense is recorded
when the Company takes possession of a store to begin its buildout,
which generally occurs before the stated commencement of the lease
term and is approximately 60 to 90 days prior to the opening of the
store.
Goodwill and Other
Intangible Assets
Goodwill and indefinite life intangible assets are evaluated for
impairment annually or more frequently if events or changes in
circumstances indicate that the asset might be
impaired. The Company performed an impairment evaluation
in fiscal 2010, fiscal 2009 and fiscal 2008 and concluded that
there was no impairment of its goodwill or indefinite life
intangible assets.
Valuation of Long-Lived Assets
Long-lived
assets, such as property and equipment, are evaluated for
impairment annually and whenever events or circumstances indicate
that the carrying value of the assets may not be
recoverable. The evaluation is based on a review of
forecasted operating cash flows and the profitability of the
related business. An impairment loss is recognized if
the forecasted cash flows are less than the carrying amount of the
asset. The Company performed an impairment evaluation in
fiscal 2010, fiscal 2009 and fiscal 2008 and concluded that there
was no impairment of its long-lived assets for stores expected to
remain open. The Company recorded an impairment charge
of $1,500 in fiscal 2009 related to the closure of three
underperforming stores.
Stock Repurchase and Retirement
Coach accounts for stock repurchases and retirements by allocating
the repurchase price to common stock, additional paid-in-capital
and retained earnings. The repurchase price allocation
is based upon the equity contribution associated with historical
issuances, beginning with the earliest issuance. Under
Maryland law, Coach’s state of incorporation, treasury shares
are not allowed. As a result, all repurchased shares are
retired when acquired. During the second quarter of
fiscal 2008, the Company’s total cumulative stock repurchases
exceeded the total shares issued in connection with the
Company’s October 2000 initial public offering, and stock
repurchases in excess of this amount are assumed to be made from
the Company’s April 2001 Sara Lee exchange
offer. Shares issued in connection with this exchange
offer were accounted for as a contribution to common stock and
retained earnings. Therefore, stock repurchases and
retirements associated with the exchange offer are accounted for by
allocation of the repurchase price to common stock and retained
earnings. During the fourth quarter of fiscal 2010,
cumulative stock repurchases allocated to retained earnings have
resulted in an accumulated deficit balance. Since its
initial public offering, the Company has not experienced a net loss
in any fiscal year, and the net accumulated deficit balance in
stockholders’ equity is attributable to the cumulative stock
repurchase activity. The total cumulative amount of
common stock repurchase price allocated to retained earnings as of
July 3, 2010 was approximately $4,000,000.
Revenue Recognition
Sales are recognized at the point of sale, which occurs when
merchandise is sold in an over-the-counter consumer transaction or,
for the wholesale channels, upon shipment of merchandise, when
title passes to the customer. Revenue associated with
gift cards is recognized upon redemption. The Company
estimates the amount of gift cards that will not be redeemed and
records such amounts as revenue over the period of the performance
obligation. Allowances for estimated uncollectible
accounts, discounts and returns are provided when sales are
recorded. Royalty revenues are earned through license
agreements with manufacturers of other consumer products that
incorporate the Coach brand. Revenue earned under these
contracts is recognized based upon reported sales from the
licensee. Taxes collected from customers and remitted to
governmental authorities are recorded on a net basis and therefore
are excluded from revenue.
Cost of
Sales
Cost of sales
consists of cost of merchandise, inbound freight
and duty
expenses, and other inventory-related costs
such as shrinkage, damages,
replacements
and production
overhead.
Selling, General and
Administrative Expenses
Selling, general and
administrative expenses are comprised of four
categories: (1) selling; (2) advertising, marketing and
design; (3) distribution and consumer service; and (4)
administrative. Selling expenses include store employee
compensation, store occupancy costs, store supply costs, wholesale
account administration compensation and all Coach
Japan
and Coach
China
operating
expenses. Advertising, marketing and design expenses
include employee compensation, media space and production,
advertising agency fees, new product design costs, public
relations, market research expenses and mail order
costs. Distribution and consumer service expenses
include warehousing, order fulfillment, shipping and handling,
customer service and bag repair costs. Administrative
expenses include compensation costs for the executive, finance,
human resources, legal and information systems departments,
corporate headquarters occupancy costs, and consulting and software
expenses.
Preopening Costs
Costs associated with the opening of new stores are expensed in the
period incurred.
Advertising
Advertising costs include expenses related to direct marketing
activities, such as catalogs, as well as media and production
costs. In fiscal 2010, fiscal 2009 and fiscal 2008,
advertising expenses totaled $61,241, $50,078 and $57,380,
respectively, and are included in selling, general and
administrative expenses. Advertising costs are expensed
when the advertising first appears.
Share-Based Compensation
The Company measures the cost of employee services received in
exchange for an award of equity instruments based on the grant-date
fair value of the award. The grant-date fair value of
the award is recognized as compensation expense over the vesting
period.
Shipping and Handling
Shipping and handling costs incurred were $22,661, $26,142 and
$28,433 in fiscal 2010, fiscal 2009 and fiscal 2008, respectively,
and are included in selling, general and administrative
expenses.
Income Taxes
The Company accounts for income taxes in accordance with Accounting
Standards Codification (“ASC”) 740, “Income
Taxes.” Under ASC 740, a deferred tax
liability or asset is recognized for the estimated future tax
consequences of temporary differences between the carrying amounts
of assets and liabilities in the financial statements and their
respective tax bases. In evaluating the unrecognized tax
benefits associated with the Company’s various tax filing
positions, management records these positions using a
more-likely-than-not recognition threshold for income tax positions
taken or expected to be taken in accordance with ASC
740. The Company classifies interest and penalties, if
present, on uncertain tax positions in interest
expense.
Fair Value of Financial Instruments
As of July 3, 2010 and June 27, 2009, the carrying values of cash
and cash equivalents, trade accounts receivable, accounts payable
and accrued liabilities approximated their values due to the
short-term maturities of these accounts. The Company has
evaluated its Industrial Revenue Bond and mortgage and believes,
based on the interest rates, related terms and maturities, that the
fair values of such instruments approximate their carrying
amounts. See note on Fair Value Measurements for the
fair values of the Company’s investments as of July 3, 2010
and June 27, 2009.
Coach Japan and Coach Canada enter into foreign currency contracts
that hedge certain U.S. dollar-denominated inventory
purchases. Additionally, Coach Japan entered into a
cross-currency swap transaction to hedge its fixed rate U.S. dollar
denominated intercompany loan. These contracts qualify
for hedge accounting and have been designated as cash flow
hedges. The fair value of these contracts is recorded in
other comprehensive income and recognized in earnings in the period
in which the hedged item is also recognized in
earnings. The fair value of the foreign currency
derivative is based on its market value. Considerable
judgment is required of management in developing estimates of fair
value. The use of different market assumptions or
methodologies could affect the estimated fair
value.
Foreign Currency
The functional currency of the Company's foreign operations is
generally the applicable local currency. Assets and
liabilities are translated into U.S. dollars using the current
exchange rates in effect at the balance sheet date, while revenues
and expenses are translated at the weighted-average exchange rates
for the period. The resulting translation adjustments
are recorded as a component of accumulated other
comprehensive income
(loss) within stockholders’ equity.
Net Income Per Share
Basic net income per share is calculated by dividing net income by
the weighted-average number of shares outstanding during the
period. Diluted net income per share is calculated
similarly but includes potential dilution from the exercise of
stock options and vesting of stock awards.
Subsequent Event Evaluation
The Company evaluated subsequent events through the date these
financial statements were issued, and concluded there were no
events to recognize or disclose.
Recent Accounting Pronouncements
ASC 820-10, “Fair Value Measurements and
Disclosures,” defines fair value, establishes a
framework for measuring fair value in generally accepted accounting
principles and expands disclosures about fair value measurements.
The Company adopted the provisions of the standard related to
financial assets and liabilities in the first quarter of fiscal
2009. During the first quarter of fiscal 2010, the Company adopted
the provisions of the standard related to non-financial assets and
liabilities measured at fair value on a non-recurring basis with no
material impact on our consolidated financial statements. For
further information about the fair value measurements of our
financial assets and liabilities, see note on Fair Value
Measurements.
ASC 820-10 was amended in January 2010 to require additional
disclosures related to recurring and nonrecurring fair value
measurements. The guidance requires disclosure of transfers of
assets and liabilities between Levels 1 and 2 of the fair value
hierarchy, including the reasons and the timing of the transfers
and information on purchases, sales, issuances, and settlements on
a gross basis in the reconciliation of the assets and liabilities
measured under Level 3 of the fair value hierarchy. The guidance
was effective for the Company beginning on December 27, 2009 and
its adoption did not have a material impact on our consolidated
financial statements.
ASC 855, “Subsequent
Events,” was amended in February 2010. Under the
amended guidance, SEC filers are no longer required to disclose the
date through which subsequent events have been evaluated in
originally issued and revised financial statements. This guidance
was effective immediately and the Company adopted these new
requirements for the period ended March 27, 2010, as described in
the preceding section, Subsequent Event
Evaluation.
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- Definition
This element may be used to describe all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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ACQUISITIONS
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Jul. 03, 2010
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| ACQUISITIONS |
3. ACQUISITIONS
On September 1, 2008, Coach acquired 100% of its domestic retail
businesses in Hong Kong and Macau and on April 1, 2009, acquired
100% of its domestic retail business in mainland China from the
former distributor, the ImagineX group. The results of
the acquired businesses have been included in the consolidated
financial statements since September 1, 2008 and April 1, 2009,
respectively, within the Direct-to-Consumer
segment. These acquisitions will provide the Company
with greater control over the brand in Hong Kong, Macau and
mainland China, enabling Coach to raise brand awareness and
aggressively grow market share with the Chinese
consumer.
The aggregate purchase price of the Hong Kong, Macau and mainland
China businesses was $25,600, of which $24,400
was paid during fiscal 2009 and $1,200 was paid during fiscal
2010. The following table summarizes the fair values of
the assets acquired at the dates of
acquisition:
Prior to these acquisitions, the ImagineX group operated eight
retail and department store locations in Hong Kong, two retail
locations in Macau, and 15 retail locations in mainland
China. The strength of the going concern and the
established locations supported a premium above the fair value of
the individual assets acquired. Unaudited pro forma
information related to these acquisitions is not included as the
impact of these transactions is not material to the consolidated
results of the Company.
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- Definition
Schedule of a material business combination during the period. No definition available.
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SHARE-BASED COMPENSATION
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Jul. 03, 2010
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| SHARE-BASED COMPENSATION |
4. SHARE-BASED
COMPENSATION
The Company maintains several share-based compensation plans which
are more fully described below. The following table
shows the total compensation cost charged against income for these
plans and the related tax benefits recognized in the income
statement:
Coach Stock-Based Plans
Coach maintains the
2000 Stock Incentive Plan, the 2000 Non-Employee Director Stock
Plan and the 2004 Stock Incentive Plan to award stock options and
shares to certain members of Coach management and the outside
members of its Board of Directors (“Board”). These
plans were approved by Coach’s stockholders. The
exercise price of each stock option equals 100% of the market price
of Coach’s stock on the date of grant and generally has a
maximum term of 10 years. Stock options and share awards
that are granted as part of the annual compensation process
generally vest ratably over three years. Other stock
option and share awards, granted primarily for retention purposes,
are subject to
forfeiture until completion of the vesting period, which ranges
from one to five years. The Company issues new shares
upon the exercise of stock options, vesting of share units and
employee stock purchase.
For options granted under Coach’s stock option plans prior to
July 1, 2003, an active employee can receive a replacement stock
option equal to the number of shares surrendered upon a
stock-for-stock exercise. The exercise price of the
replacement option equals 100% of the market value at the date of
exercise of the original option and will remain exercisable for the
remaining term of the original option. Replacement stock
options generally vest six months from the grant
date. No replacement stock options were granted in
fiscal 2010 or fiscal 2009 and 16 were granted in fiscal
2008.
Stock Options
A summary of option activity under the Coach stock option plans as
of July 3, 2010 and changes during the year then ended is as
follows:
The fair value of
each Coach option grant is estimated on the date of grant using the
Black-Scholes option pricing model and the following
weighted-average assumptions:
The expected term of options represents the period of time that the
options granted are expected to be outstanding and is based on
historical experience. Expected volatility is based on
historical volatility of the Company’s stock as well as the
implied volatility from publicly traded options on Coach’s
stock. The risk free interest rate is based on the zero-coupon U.S.
Treasury issue as of the date of the grant. Grants
subsequent to the Company’s April 2009 Board approval to
initiate a quarterly dividend included a dividend yield assumption
based on Coach’s annual expected dividend divided by the
grant-date share price. As Coach did not pay dividends
during fiscal 2008, there was no dividend
yield.
The weighted-average grant-date fair value of options granted
during fiscal 2010, fiscal 2009 and fiscal 2008 was $9.68, $8.36
and $10.74, respectively. The total intrinsic value of
options exercised during fiscal 2010, fiscal 2009 and fiscal 2008
was $127,879, $11,495 and $65,922, respectively. The
total cash received from option exercises was $208,919, $9,382 and
$89,356 in fiscal 2010, fiscal 2009 and fiscal 2008, respectively,
and the actual tax benefit realized for the tax deductions from
these option exercises was $47,795, $4,427 and $25,610,
respectively.
At July 3, 2010, $46,544 of total unrecognized compensation cost
related to non-vested stock option awards is expected to be
recognized over a weighted-average period of 1.0
year.
Share Units
The grant-date fair
value of each Coach share unit is equal to the fair value of
Coach stock at the grant date. The weighted-average
grant-date fair value of shares granted during fiscal 2010, fiscal
2009 and fiscal 2008 was $30.55, $24.62 and $40.47,
respectively. The following table summarizes information
about non-vested shares as of and for the year ended July 3,
2010:
The total fair value of shares vested during fiscal 2010, fiscal
2009 and fiscal 2008 was $23,955, $15,859 and $18,225,
respectively. At July 3, 2010, $59,735 of total
unrecognized compensation cost related to non-vested share awards
is expected to be recognized over a weighted-average period of 1.1
years.
Employee Stock Purchase Plan
Under the Employee Stock Purchase Plan, full-time Coach employees
are permitted to purchase a limited number of Coach common shares
at 85% of market value. Under this plan, Coach sold 176,
268 and 155 new shares to employees in fiscal 2010, fiscal 2009 and
fiscal 2008, respectively. Compensation expense is
calculated for the fair value of employees’ purchase rights
using the Black-Scholes model and the following weighted-average
assumptions:
The weighted-average fair value of the purchase rights granted
during fiscal 2010, fiscal 2009 and fiscal 2008 was $9.15, $8.42
and $10.26, respectively.
Deferred Compensation
Under the Coach, Inc. Deferred Compensation Plan for Non-Employee
Directors, Coach's outside directors may defer their director's
fees. Amounts deferred under these plans may, at the
participants' election, be either represented by deferred stock
units, which represent the right to receive shares of Coach common
stock on the distribution date elected by the participant, or
placed in an interest-bearing account to be paid on such
distribution date. The amounts accrued under these plans
at July 3, 2010 and June 27, 2009 were $2,980 and $2,480,
respectively, and are included within total liabilities in the
consolidated balance sheets.
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| X | ||||||||||
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- Definition
Disclosure of compensation-related costs for share-based compensation which may include disclosure of policies, compensation plan details, allocation of stock compensation, incentive distributions, share-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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LEASES
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Jul. 03, 2010
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| LEASES |
5. LEASES
Coach leases certain office, distribution and retail
facilities. The lease agreements, which expire at
various dates through 2028, are subject, in some cases, to renewal
options and provide for the payment of taxes, insurance and
maintenance. Certain leases contain escalation clauses
resulting from the pass-through of increases in operating costs,
property taxes and the effect on costs from changes in consumer
price indices. Certain rentals are also contingent upon
factors such as sales.
Rent-free periods and scheduled rent increases are recorded as
components of rent expense on a straight-line basis over the
related terms of such leases. Contingent rentals are
recognized when the achievement of the target (i.e., sales levels),
which triggers the related payment, is considered
probable. Rent expense for the Company's operating
leases consisted of the following:
Certain operating leases provide for renewal for periods of five to
ten years at their fair rental value at the time of
renewal. In the normal course of business, operating
leases are generally renewed or replaced by new
leases.
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- Definition
Disclosure of lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. This element can be used to disclose the entity's entire lease disclosure as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE MEASUREMENTS
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Jul. 03, 2010
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| FAIR VALUE MEASUREMENTS |
6. FAIR
VALUE MEASUREMENTS
The Company adopted the provisions of the ASC 820-10,
“Fair Value
Measurements and Disclosures,” related to financial
assets and liabilities in the first quarter of fiscal
2009. During the first quarter of fiscal 2010, the
Company adopted the provisions of the standard related to
non-financial assets and liabilities measured at fair value on a
non-recurring basis with no material impact on our consolidated
financial statements. In accordance with ASC 820-10, the
Company categorized its assets and liabilities, based on the
priority of the inputs to the valuation technique, into a
three-level fair value hierarchy as set forth below. The
three levels of the hierarchy are defined as
follows:
Level 1 — Unadjusted quoted prices in active markets for
identical assets or liabilities. Coach currently does
not have any Level 1 financial assets or
liabilities.
Level 2 — Observable inputs other than quoted prices included
in Level 1. Level 2 inputs include quoted prices for
identical assets or liabilities in non-active markets, quoted
prices for similar assets or liabilities in active markets, and
inputs other than quoted prices that are observable for
substantially the full term of the asset or
liability.
Level 3 — Unobservable inputs reflecting management’s
own assumptions about the input used in pricing the asset or
liability.
The following table shows the fair value measurements of the
Company’s assets and liabilities at July 3, 2010 and June 27,
2009:
(a) The
fair value of the security is determined using a model that takes
into consideration the financial conditions of the issuer and the
bond insurer, current market conditions and the value of the
collateral bonds.
(b) The
Company enters into zero-cost collar options to manage its exposure
to foreign currency exchange rate fluctuations
resulting from Coach
Japan's
and Coach
Canada’s
U.S. dollar-denominated inventory purchases. The fair
value of these cash flow hedges is primarily based on the forward
curves of the specific indices upon which settlement is
based and
includes an adjustment for the counterparty’s or
Company’s credit
risk.
(c) The
Company is a party to a cross-currency swap transaction in order to
manage its exposure to foreign currency exchange rate
fluctuations
resulting from Coach
Japan's
U.S. dollar-denominated fixed rate intercompany
loan. The fair value of this cash flow hedge is
primarily based on the forward curves of the specific indices upon
which settlement is based and includes an adjustment for the
Company's credit risk.
See note on
Derivative Instruments and Hedging Activities for more information
on the Company’s derivative
contracts.
As of
July 3, 2010 and June
27, 2009, the Company’s investments
included an auction rate
security (“ARS”)
classified
as a long-term investment,
as the auction for
this security has been unsuccessful. This ARS is currently rated A,
an
investment grade
rating afforded by credit rating agencies, and its underlying investments are
scheduled to mature in 2035. We have determined that the
significant majority of the inputs used to value
this security
fall within Level 3
of the fair value hierarchy as the inputs are based on unobservable
estimates. At both July 3, 2010
and June 27, 2009, the fair value of the Company’s ARS was
$6,000. The
table below presents the changes in the fair value of
the auction
rate security during fiscal
2009:
As of
July 3, 2010
and
June 27,
2009, the fair
value of the Company’s cross-currency swap
derivatives
were included
within accrued liabilities. The Company uses a
management model which includes a combination of observable inputs,
such as tenure of the agreement and notional amount and
unobservable inputs, such as the Company’s credit
rating. The table below presents the
changes in the fair value of the cross-currency swap
during fiscal 2010 and
2009:
During fiscal 2010,
the Company purchased $229,860 of short-term investments consisting
of U.S.
treasury bills and
commercial paper. These investments, net of proceeds
from sales and maturities, totaled $99,928 as of July 3,2010 and
are classified as held-to-maturity based on our positive intent and
ability to hold the securities to maturity. They are
stated at amortized cost, which approximates fair market value due
to their short maturities.
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| X | ||||||||||
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- Definition
This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DEBT
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Jul. 03, 2010
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| DEBT |
7. DEBT
Revolving Credit
Facilities
The Company maintains a $100,000 revolving credit facility with
certain lenders and Bank of America, N.A. as the primary lender and
administrative agent (the “Bank of America
facility”). The facility expires on July 26,
2012. At Coach’s request and lenders’
consent, the Bank of America facility can be expanded to $200,000
and can also be extended for two additional one-year
periods. Under the Bank of America facility, Coach pays
a commitment fee of 6 to 12.5 basis points on any unused amounts
and interest of LIBOR plus 20 to 55 basis points on any outstanding
borrowings. At July 3, 2010, the commitment fee was 7
basis points and the LIBOR margin was 30 basis
points.
The Bank of America facility is available for seasonal working
capital requirements or general corporate purposes and may be
prepaid without penalty or premium. During fiscal 2010
and fiscal 2009 there were no borrowings under the Bank of America
facility. Accordingly, as of July 3, 2010 and June 27,
2009, there were no outstanding borrowings under the Bank of
America facility. The Company’s borrowing capacity
as of July 3, 2010 was $89,993, due to outstanding letters of
credit.
The Bank of America facility contains various covenants and
customary events of default. Coach has been in
compliance with all covenants since its
inception.
To provide funding for working capital and general corporate
purposes, Coach Japan has available credit facilities with several
Japanese financial institutions. These facilities allow
a maximum borrowing of 4.1 billion Yen, or approximately $46,681,
at July 3, 2010. Interest is based on the Tokyo
Interbank rate plus a margin of 30 basis
points.
During fiscal
2010 and
fiscal 2009, the peak borrowings under the Japanese credit
facilities were $0 and $14,404, respectively. As of July
3, 2010 and June 27, 2009, there were no outstanding borrowings
under the Japanese credit facilities.
To provide funding for working capital and general corporate
purposes, Coach Shanghai Limited has a credit facility that allows
a maximum borrowing of 67 million Renminbi, or approximately $9,896
at July 3, 2010. Interest is based on the People's Bank
of China rate. During fiscal 2010 and fiscal 2009, the
peak borrowings under this credit facility were
$7,496. At July 3, 2010, there were no outstanding
borrowings under this facility.
Long-Term Debt
Coach is party to an Industrial Revenue Bond related to its
Jacksonville, Florida facility. This loan bears interest
at 4.5%. Principal and interest payments are made
semi-annually, with the final payment due in August
2014. As of July 3, 2010 and June 27, 2009, the
remaining balance on the loan was $2,245 and $2,580,
respectively. During fiscal 2009, Coach assumed a
mortgage in connection with the purchase of its corporate
headquarters building in New York City. This mortgage
bears interest at 4.68%. Interest payments are made
monthly and principal payments began in July 2009, with the final
payment of $21,555 due in June 2013. As of July 3, 2010,
the remaining balance on the mortgage was
$22,656. Future principal payments under these
obligations are as follows:
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| X | ||||||||||
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- Definition
Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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COMMITMENTS AND CONTINGENCIES
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Jul. 03, 2010
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| COMMITMENTS AND CONTINGENCIES |
8. COMMITMENTS
AND CONTINGENCIES
At July 3, 2010 and
June 27, 2009, the Company had letters of credit available of
$275,000, of which $147,380 and $101,940, respectively, were
outstanding. The letters of credit, which expire at
various dates through 2012, primarily collateralize the
Company’s obligation to third parties for the purchase of
inventory.
Coach is a party to employment agreements with certain key
executives which provide for compensation and other
benefits. The agreements also provide for severance
payments under certain circumstances. The Company’s
employment agreements and the respective expiration dates are as
follows:
In addition to the employment agreements described above, other
contractual cash obligations as of July 3, 2010 and June 27, 2009
included $166,596 and $105,114, respectively, related to inventory
purchase obligations and $1,611 and $2,370, respectively, related
to capital expenditure purchase obligations.
In the ordinary course of business, Coach is a party to several
pending legal proceedings and claims. Although the
outcome of such items cannot be determined with certainty, Coach's
general counsel and management are of the opinion that the final
outcome will not have a material effect on Coach's cash flow,
results of operations or financial position.
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| X | ||||||||||
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- Definition
Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
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| DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES |
9. DERIVATIVE
INSTRUMENTS AND HEDGING ACTIVITIES
Substantially all purchases and sales involving international
parties are denominated in U.S. dollars, which limits the
Company’s exposure to foreign currency exchange rate
fluctuations. However, the Company is exposed to market
risk from foreign currency exchange risk related to Coach
Japan’s and Coach Canada’s U.S. dollar-denominated
inventory purchases and Coach Japan’s $139,400 U.S.
dollar-denominated fixed rate intercompany loan. Coach
uses derivative financial instruments to manage these
risks. These derivative transactions are in accordance
with the Company’s risk management policies. Coach
does not enter into derivative transactions for speculative or
trading purposes.
Coach Japan and Coach Canada enter into certain foreign currency
derivative contracts, primarily zero-cost collar options, to manage
the exchange rate risk related to their inventory
purchases. As of July 3, 2010 and June 27, 2009,
$248,555 and $32,041 of foreign currency forward contracts were
outstanding, respectively.
On July 1, 2005, to manage the exchange rate risk related to its
$231,000 intercompany loan, Coach Japan entered into a cross
currency swap transaction. The terms of the cross
currency swap transaction included an exchange of a Yen fixed
interest rate for a U.S. dollar fixed interest rate and an exchange
of Yen and U.S. dollar-based notional values. On July 2,
2010, the maturity date of the original intercompany loan, Coach
Japan repaid the loan and settled the cross currency swap, and
entered into a new $139,400 intercompany loan
agreement. Concurrently, to manage the exchange rate
risk on the new loan, Coach Japan entered into a new cross currency
swap transaction, the terms of which include an exchange of a Yen
fixed interest rate for a U.S. dollar fixed interest
rate. The loan matures on June 30, 2011, at which point
the swap requires an exchange of Yen and U.S. dollar based notional
values.
The Company’s derivative instruments are designated as cash
flow hedges. The effective portion of gains or losses on
the derivative instruments are reported as a component of other
comprehensive income and reclassified into earnings in the same
periods during which the hedged transaction affects
earnings. The ineffective portion of gains or losses on
the derivative instruments are recognized in current earnings and
are included within net cash provided by operating
activities.
The following tables provide information related to the
Company’s derivatives:
For fiscal 2010 and fiscal 2009, the amounts above are net of tax
of $2,858 and $7,123, respectively.
During fiscal 2010 and fiscal 2009, there were no material gains or
losses recognized in income due to hedge
ineffectiveness.
The Company expects that $2,634 of net derivative losses included
in accumulated other comprehensive income at July 3, 2010 will be
reclassified into earnings within the next 12
months. This amount will vary due to fluctuations in the
Japanese Yen and Canadian Dollar exchange
rates.
Hedging activity affected accumulated other comprehensive (loss)
income, net of tax, as follows:
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- Definition
This element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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GOODWILL AND OTHER INTANGIBLE ASSETS
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| GOODWILL AND OTHER INTANGIBLE ASSETS |
10. GOODWILL
AND OTHER INTANGIBLE ASSETS
The changes in the carrying amount of goodwill for the years ended
July 3, 2010 and June 27, 2009 are as follows:
At July 3, 2010 and
June 27, 2009, intangible assets not subject to amortization were $9,788
and consisted
of trademarks.
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| X | ||||||||||
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- Definition
Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INCOME TAXES
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Jul. 03, 2010
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| INCOME TAXES |
11. INCOME
TAXES
The provisions for income taxes computed by applying the U.S.
statutory rate to income before taxes as reconciled to the actual
provisions were:
During fiscal 2009, the Company reorganized the ownership of its
business in Japan. As a result of the reorganization, the Company
recorded a non-current deferred tax asset of $103,170 which
represents the tax effect in Japan of the basis difference related
to an asset acquired from within the Coach group. The Company also
recorded a deferred credit of $103,170 and a deferred expense of
$17,715 which represents the tax effects of future tax deductions
and the net taxes payable, respectively, on the transaction. The
current and long-term portion of the deferred credit is included
within accrued liabilities and other liabilities, respectively, and
the deferred expense is included within other
assets.
The Company adopted the Financial Accounting Standards
Board’s (“FASB”) guidance for accounting for
uncertainty in income taxes which has been codified within ASC 740
on July 1, 2007, the first day of fiscal 2008. ASC 740
prescribes a recognition threshold and measurement attribute for
the financial statement recognition and measurement of a tax
position taken or expected to be taken in a tax
return. As a result, the Company recorded a non-cash
cumulative transition charge of $48,797 as a reduction to the
opening retained earnings balance.
Significant judgment is required in determining the worldwide
provision for income taxes, and there are many transactions for
which the ultimate tax outcome is uncertain. It is the
Company’s policy to establish provisions for taxes that may
become payable in future years as a result of an examination by tax
authorities. The Company establishes the provisions
based upon management’s assessment of exposure associated
with uncertain tax positions. The provisions are
analyzed periodically and adjustments are made as events occur that
warrant adjustments to those provisions. All of these
determinations are subject to the requirements of ASC
740.
A reconciliation of the beginning and ending gross amount of
unrecognized tax benefits is as follows:
Of the $165,676 ending gross unrecognized tax benefit balance,
$77,586 relates to items which, if recognized, would impact the
effective tax rate. As of July 3, 2010 and June 27,
2009, gross interest and penalties payable was $35,331 and $25,960,
which are included in other liabilities. During fiscal
2010, fiscal 2009 and fiscal 2008, the Company recognized interest
and penalty expense of $6,204, $5,611 and $(3,180), respectively,
in the Consolidated Statements of Income.
The Company files income tax returns in the U.S. federal
jurisdiction as well as various state and foreign
jurisdictions. Fiscal years 2007 to present are open to
examination in the federal jurisdiction, fiscal 2003 to present in
significant state jurisdictions, and from fiscal 2003 to present in
foreign jurisdictions.
Based on the number of tax years currently under audit by the
relevant tax authorities, the Company anticipates that one or more
of these audits may be finalized in the foreseeable
future. However, based on the status of these
examinations, and the protocol of finalizing audits by the relevant
tax authorities, we cannot reasonably estimate the impact of any
amount of such changes in the next 12 months, if any, to previously
recorded uncertain tax positions.
At July 3, 2010, the Company had net operating loss carryforwards
in foreign tax jurisdictions of $97,241, which will expire
beginning in fiscal years 2012 through fiscal year
2017.
The total amount of undistributed earnings of foreign subsidiaries
as of July 3, 2010 was $525,136. It is the
Company’s intention to permanently reinvest undistributed
earnings of its foreign subsidiaries and thereby indefinitely
postpone their remittance. Accordingly, no provision has
been made for foreign withholding taxes or United States income
taxes which may become payable if undistributed earnings of foreign
subsidiaries are paid as dividends.
|
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| X | ||||||||||
|
- Definition
Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
DEFINED CONTRIBUTION PLAN
|
24 Months Ended |
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Jul. 03, 2010
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| DEFINED CONTRIBUTION PLAN |
12. DEFINED
CONTRIBUTION PLAN
Coach maintains the Coach, Inc. Savings and Profit Sharing Plan,
which is a defined contribution plan. Employees who meet
certain eligibility requirements and are not part of a collective
bargaining agreement may participate in this
program. The annual expense incurred by Coach for this
defined contribution plan was $13,285, $12,511 and $11,106 in
fiscal 2010, fiscal 2009 and fiscal 2008,
respectively.
|
| X | ||||||||||
|
- Definition
Description containing the entire pension and other postretirement benefits disclosure as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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SEGMENT INFORMATION
|
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Jul. 03, 2010
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| SEGMENT INFORMATION |
13. SEGMENT
INFORMATION
The Company operates its business in two reportable
segments: Direct-to-Consumer and
Indirect. The Company's reportable segments represent
channels of distribution that offer similar merchandise, service
and marketing strategies. Sales of Coach products
through Company-operated stores in North America, Japan, Hong Kong,
Macau and mainland China, the Internet and the Coach catalog
constitute the Direct-to-Consumer segment. The Indirect
segment includes sales to wholesale customers and distributors in
over 20 countries, including the United States, and royalties
earned on licensed products. In deciding how to allocate
resources and assess performance, Coach's executive officers
regularly evaluate the sales and operating income of these
segments. Operating income is the gross margin of the
segment less direct expenses of the segment. Unallocated
corporate expenses include production variances, general marketing,
administration and information systems, as well as distribution and
consumer service expenses.
In connection with the acquisitions of the retail businesses in
Hong Kong, Macau and mainland China, the Company evaluated the
composition of its reportable segments and concluded that sales in
these regions should be included in the Direct-to-Consumer
segment. Accordingly, all prior year comparable sales
and operating income have been reclassified to conform to the
current year presentation.
The following is a
summary of the common costs not allocated in the determination of
segment performance:
Geographic Area Information
As of July 3, 2010, Coach operated 322 retail stores and 118
factory stores in the United States, 20 retail stores and three
factory stores in Canada, 161 department store shop-in-shops,
retail stores and factory stores in Japan and 41 department store
shop-in-shops, retail stores and factory stores in Hong Kong, Macau
and mainland China. Coach also operates distribution,
product development and quality control locations in the United
States, Hong Kong, China, South Korea, Vietnam and
India. Geographic revenue information is based on the
location of our customer. Geographic long-lived asset
information is based on the physical location of the assets at the
end of each period and includes property and equipment, net and
other assets.
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| X | ||||||||||
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- Definition
This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EARNINGS PER SHARE
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Jul. 03, 2010
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| EARNINGS PER SHARE |
14. EARNINGS
PER SHARE
The following is a
reconciliation of the weighted-average shares outstanding and
calculation of basic and diluted earnings per
share:
At July 3, 2010, options to purchase 3,710 shares of common stock
were outstanding but not included in the computation of diluted
earnings per share, as these options’ exercise prices,
ranging from $41.93 to $51.56, were greater than the average market
price of the common shares.
At June 27, 2009, options to purchase 24,004 shares of common stock
were outstanding but not included in the computation of diluted
earnings per share, as these options’ exercise prices,
ranging from $24.33 to $51.56, were greater than the average market
price of the common shares.
At June 28, 2008, options to purchase 11,439 shares of common stock
were outstanding but not included in the computation of diluted
earnings per share, as these options’ exercise prices,
ranging from $33.69 to $51.56, were greater than the average market
price of the common shares.
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| X | ||||||||||
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- Definition
This element may be used to capture the complete disclosure pertaining to an entity's earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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PURCHASE OF CORPORATE HEADQUARTERS BUILDING
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24 Months Ended |
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Jul. 03, 2010
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| PURCHASE OF CORPORATE HEADQUARTERS BUILDING |
15. PURCHASE
OF CORPORATE HEADQUARTERS BUILDING
On November 26, 2008,
Coach purchased its corporate headquarters building at
516 West 34th
Street in New York City for $126,300. As part
of the purchase agreement, Coach paid $103,300 of cash and assumed
$23,000 of the outstanding mortgage held by the
sellers. The mortgage bears interest at 4.68% per annum
and interest payments are made monthly. Principal
payments began in July 2009 with the final payment of $21,555 due
in June 2013.
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| X | ||||||||||
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- Definition
Description of a material building purchase during the period. No definition available.
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DISCONTINUED OPERATIONS
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Jul. 03, 2010
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| DISCONTINUED OPERATIONS |
16. DISCONTINUED
OPERATIONS
In March 2007, the Company exited its corporate accounts business
in order to better control the location where Coach product is sold
and the image of the brand. Through the corporate
accounts business, Coach sold products primarily to
distributors for gift-giving and incentive
programs. The results of the corporate accounts
business, previously included in the Indirect segment, have been
segregated from continuing operations and reported as discontinued
operations in the Consolidated Statements of Income for all periods
presented. As the Company uses a centralized approach to
cash management, interest income was not allocated to the corporate
accounts business. The following table summarizes
results of the corporate accounts business:
At both July 3, 2010 and June 27, 2009 the consolidated balance
sheet includes approximately $1,500 of accrued liabilities related
to the corporate accounts business. The Consolidated
Statement of Cash Flows includes the corporate accounts business
for all periods presented.
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| X | ||||||||||
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- Definition
Disclosure includes the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain or loss recognized in the income statement and the income statement caption that includes that gain or loss, amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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STOCK REPURCHASE PROGRAM
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24 Months Ended |
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Jul. 03, 2010
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| STOCK REPURCHASE PROGRAM |
17. STOCK
REPURCHASE PROGRAM
Purchases of
Coach’s common stock are made from time to time, subject to
market conditions and at prevailing market prices, through open
market purchases. Repurchased shares of common stock
become authorized but unissued shares and may be issued in the
future for general corporate and other purposes. The
Company may terminate or limit the stock repurchase program at any
time.
During fiscal 2010,
fiscal 2009 and fiscal 2008, the Company repurchased and
retired 30,686; 20,159 and 39,688 shares of
common stock at an average cost of $37.48, $22.51 and $33.68 per share,
respectively. In April 2010, Coach’s Board
authorized a new $1,000,000 share repurchase
program. As of July 3, 2010, Coach
had $559,627 remaining in the stock repurchase
program.
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| X | ||||||||||
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- Definition
This element may be used to capture the complete disclosure pertaining to an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's Board of Directors, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation. No definition available.
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SUPPLEMENTAL BALANCE SHEET INFORMATION
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Jul. 03, 2010
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| SUPPLEMENTAL BALANCE SHEET INFORMATION |
18. SUPPLEMENTAL
BALANCE SHEET INFORMATION
The components of
certain balance sheet accounts are as
follows:
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- Definition
Supplemental Balance Sheet Information Disclosure [Text Block] No definition available.
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SHAREHOLDER RIGHTS PLAN
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24 Months Ended |
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|
Jul. 03, 2010
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| SHAREHOLDER RIGHTS PLAN |
19. SHAREHOLDER
RIGHTS PLAN
On
May 3,
2001, Coach
declared a “poison pill” dividend distribution of
rights to buy additional common stock, to the holder of each
outstanding share of Coach’s common
stock.
Subject to limited exceptions, these rights may be exercised if a
person or group intentionally acquires 10% or more of the
Company’s common stock or announces a tender offer for 10% or
more of the common stock on terms not approved by the Coach
Board. In this event, each right would entitle
the holder of each share of Coach’s common stock to buy one
additional common share of the Company at an exercise price far
below the then-current market price. Subject to certain
exceptions, Coach’s Board will be entitled to redeem the
rights at $0.0001 per right at any time before the close of
business on the tenth day following either the public announcement
that, or the date on which a majority of Coach’s Board
becomes aware that, a person has acquired 10% or more of the
outstanding common stock. As of the end of fiscal 2010,
there were no shareholders whose common stock holdings exceeded the
10% threshold established by the rights plan.
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| X | ||||||||||
|
- Definition
Stockholder Rights Plan Disclosure No definition available.
|
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Schedule II - Valuation and Qualifying Accounts
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Jul. 03, 2010
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| Schedule II - Valuation and Qualifying Accounts |
COACH,
INC.
Schedule II –
Valuation and Qualifying Accounts
For the Fiscal Years
Ended July 3, 2010, June 27, 2009 and June 28,
2008
(amounts in
thousands)
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| X | ||||||||||
|
- Definition
An element designated to encapsulate the entire schedule of any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
SIGNIFICANT ACCOUNTING POLICIES (Policies)
|
24 Months Ended |
|---|---|
|
Jul. 03, 2010
|
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| Fiscal Year |
Fiscal Year
The
Company’s fiscal year ends on the Saturday closest to June
30. Unless otherwise stated, references to years in the
financial statements relate to fiscal years. The fiscal
year ended July 3, 2010 (“fiscal 2010”) was a 53-week
period. The fiscal years ended June 27, 2009
(“fiscal 2009”) and June 28, 2008 (“fiscal
2008”) were each 52-week periods. The fiscal year
ending July 2, 2011 (“fiscal 2011”) will be a 52-week
period.
|
| Estimates And Assumptions, Policy |
Use of Estimates
The
preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial
statements as well as the reported amounts of revenues and expenses
during the reporting period. The level of uncertainty in
estimates and assumptions increases with the length of time until
the underlying transactions are completed. Actual
results could differ from estimates in amounts that may be material
to the financial statements.
|
| Consolidation, Policy |
Principles of Consolidation
The
consolidated financial statements include the accounts of the
Company and all 100% owned subsidiaries. All significant
intercompany transactions and balances are eliminated in
consolidation.
|
| Cash and Cash Equivalents, Policy |
Cash and Cash Equivalents
Cash
and cash equivalents consist of cash balances and highly liquid
investments with a maturity of three months or less at the date of
purchase.
|
| Investment, Policy |
Investments
Investments
consist of U.S. government and agency debt securities as well as
municipal government and corporate debt
securities. Long-term investments are classified as
available-for-sale and recorded at fair value, with unrealized
gains and losses recorded in other comprehensive
income. Dividend and interest income are recognized when
earned.
Short-term
investments consist of commercial paper and treasury bills, the
adjusted book value of the commercial paper and treasury bills
equals its fair value. As the Company does not have the
intent to sell and will not be required to sell these securities
until maturity, investments are classified as held-to-maturity and
stated at amortized cost.
|
| Concentration Risk Disclosure |
Concentration of Credit Risk
Financial
instruments that potentially expose Coach to concentration of
credit risk consist primarily of cash and cash equivalents,
investments and accounts receivable. The Company places
its cash investments with high-credit quality financial
institutions and currently invests primarily in U.S. government and
agency debt securities, municipal government and corporate debt
securities, and money market funds placed with major banks and
financial institutions. Accounts receivable is generally
diversified due to the number of entities comprising Coach’s
customer base and their dispersion across many geographical
regions. The Company believes no significant
concentration of credit risk exists with respect to these cash
investments and accounts receivable.
|
| Inventory, Policy |
Inventories
Inventories consist primarily of finished goods and are valued at the lower of
cost (determined by the first-in, first-out method) or
market. Inventory costs include material, conversion
costs, freight and duties.
|
| Property, Plant and Equipment, Policy |
Property and Equipment
Property and equipment are stated at cost less accumulated
depreciation. Depreciation is calculated on a
straight-line basis over the estimated useful lives of the
assets. Buildings are depreciated over 40
years. Machinery and equipment are depreciated over
lives of five to seven years and furniture and fixtures are
depreciated over lives of three to five years. Leasehold
improvements are amortized over the shorter of their estimated
useful lives or the related lease terms. Maintenance and
repair costs are charged to earnings as incurred while expenditures
for major renewals and improvements are
capitalized. Upon the disposition of property and
equipment, the cost and related accumulated depreciation are
removed from the accounts.
|
| Lease, Policy |
Operating Leases
The Company’s leases for office space, retail stores and the
distribution facility are accounted for as operating
leases. The majority of the Company’s lease
agreements provide for tenant improvement allowances, rent
escalation clauses and/or contingent rent
provisions. Tenant improvement allowances are recorded
as a deferred lease credit on the balance sheet and amortized over
the lease term, which is consistent with the amortization period
for the constructed assets. Rent expense is recorded
when the Company takes possession of a store to begin its buildout,
which generally occurs before the stated commencement of the lease
term and is approximately 60 to 90 days prior to the opening of the
store.
|
| Goodwill and Intangible Assets, Policy |
Goodwill and Other
Intangible Assets
Goodwill and indefinite life intangible assets are evaluated for
impairment annually or more frequently if events or changes in
circumstances indicate that the asset might be
impaired. The Company performed an impairment evaluation
in fiscal 2010, fiscal 2009 and fiscal 2008 and concluded that
there was no impairment of its goodwill or indefinite life
intangible assets.
|
| Impairment or Disposal of Long-Lived Assets, Policy |
Valuation of Long-Lived Assets
Long-lived
assets, such as property and equipment, are evaluated for
impairment annually and whenever events or circumstances indicate
that the carrying value of the assets may not be
recoverable. The evaluation is based on a review of
forecasted operating cash flows and the profitability of the
related business. An impairment loss is recognized if
the forecasted cash flows are less than the carrying amount of the
asset. The Company performed an impairment evaluation in
fiscal 2010, fiscal 2009 and fiscal 2008 and concluded that there
was no impairment of its long-lived assets for stores expected to
remain open. The Company recorded an impairment charge
of $1,500 in fiscal 2009 related to the closure of three
underperforming stores.
|
| Share Repurchase Program Disclosure |
Stock Repurchase and Retirement
Coach accounts for stock repurchases and retirements by allocating
the repurchase price to common stock, additional paid-in-capital
and retained earnings. The repurchase price allocation
is based upon the equity contribution associated with historical
issuances, beginning with the earliest issuance. Under
Maryland law, Coach’s state of incorporation, treasury shares
are not allowed. As a result, all repurchased shares are
retired when acquired. During the second quarter of
fiscal 2008, the Company’s total cumulative stock repurchases
exceeded the total shares issued in connection with the
Company’s October 2000 initial public offering, and stock
repurchases in excess of this amount are assumed to be made from
the Company’s April 2001 Sara Lee exchange
offer. Shares issued in connection with this exchange
offer were accounted for as a contribution to common stock and
retained earnings. Therefore, stock repurchases and
retirements associated with the exchange offer are accounted for by
allocation of the repurchase price to common stock and retained
earnings. During the fourth quarter of fiscal 2010,
cumulative stock repurchases allocated to retained earnings have
resulted in an accumulated deficit balance. Since its
initial public offering, the Company has not experienced a net loss
in any fiscal year, and the net accumulated deficit balance in
stockholders’ equity is attributable to the cumulative stock
repurchase activity. The total cumulative amount of
common stock repurchase price allocated to retained earnings as of
July 3, 2010 was approximately $4,000,000.
|
| Revenue Recognition, Policy |
Revenue Recognition
Sales are recognized at the point of sale, which occurs when
merchandise is sold in an over-the-counter consumer transaction or,
for the wholesale channels, upon shipment of merchandise, when
title passes to the customer. Revenue associated with
gift cards is recognized upon redemption. The Company
estimates the amount of gift cards that will not be redeemed and
records such amounts as revenue over the period of the performance
obligation. Allowances for estimated uncollectible
accounts, discounts and returns are provided when sales are
recorded. Royalty revenues are earned through license
agreements with manufacturers of other consumer products that
incorporate the Coach brand. Revenue earned under these
contracts is recognized based upon reported sales from the
licensee. Taxes collected from customers and remitted to
governmental authorities are recorded on a net basis and therefore
are excluded from revenue.
|
| Cost of Sales, Policy |
Cost of
Sales
Cost of sales
consists of cost of merchandise, inbound freight
and duty
expenses, and other inventory-related costs
such as shrinkage, damages,
replacements
and production
overhead.
|
| Selling, General and Administrative Expenses, Policy |
Selling, General and
Administrative Expenses
Selling, general and
administrative expenses are comprised of four
categories: (1) selling; (2) advertising, marketing and
design; (3) distribution and consumer service; and (4)
administrative. Selling expenses include store employee
compensation, store occupancy costs, store supply costs, wholesale
account administration compensation and all Coach
Japan
and Coach
China
operating
expenses. Advertising, marketing and design expenses
include employee compensation, media space and production,
advertising agency fees, new product design costs, public
relations, market research expenses and mail order
costs. Distribution and consumer service expenses
include warehousing, order fulfillment, shipping and handling,
customer service and bag repair costs. Administrative
expenses include compensation costs for the executive, finance,
human resources, legal and information systems departments,
corporate headquarters occupancy costs, and consulting and software
expenses.
|
| Preopening Costs, Policy |
Preopening Costs
Costs associated with the opening of new stores are expensed in the
period incurred.
|
| Advertising Costs, Policy |
Advertising
Advertising costs include expenses related to direct marketing
activities, such as catalogs, as well as media and production
costs. In fiscal 2010, fiscal 2009 and fiscal 2008,
advertising expenses totaled $61,241, $50,078 and $57,380,
respectively, and are included in selling, general and
administrative expenses. Advertising costs are expensed
when the advertising first appears.
|
| Share based Compensation, Policy |
Share-Based Compensation
The Company measures the cost of employee services received in
exchange for an award of equity instruments based on the grant-date
fair value of the award. The grant-date fair value of
the award is recognized as compensation expense over the vesting
period.
|
| Shipping and Handling Cost, Policy |
Shipping and Handling
Shipping and handling costs incurred were $22,661, $26,142 and
$28,433 in fiscal 2010, fiscal 2009 and fiscal 2008, respectively,
and are included in selling, general and administrative
expenses.
|
| Income Tax, Policy |
Income Taxes
The Company accounts for income taxes in accordance with Accounting
Standards Codification (“ASC”) 740, “Income
Taxes.” Under ASC 740, a deferred tax
liability or asset is recognized for the estimated future tax
consequences of temporary differences between the carrying amounts
of assets and liabilities in the financial statements and their
respective tax bases. In evaluating the unrecognized tax
benefits associated with the Company’s various tax filing
positions, management records these positions using a
more-likely-than-not recognition threshold for income tax positions
taken or expected to be taken in accordance with ASC
740. The Company classifies interest and penalties, if
present, on uncertain tax positions in interest
expense.
|
| Fair Value of Financial Instruments Disclosure |
Fair Value of Financial Instruments
As of July 3, 2010 and June 27, 2009, the carrying values of cash
and cash equivalents, trade accounts receivable, accounts payable
and accrued liabilities approximated their values due to the
short-term maturities of these accounts. The Company has
evaluated its Industrial Revenue Bond and mortgage and believes,
based on the interest rates, related terms and maturities, that the
fair values of such instruments approximate their carrying
amounts. See note on Fair Value Measurements for the
fair values of the Company’s investments as of July 3, 2010
and June 27, 2009.
Coach Japan and Coach Canada enter into foreign currency contracts
that hedge certain U.S. dollar-denominated inventory
purchases. Additionally, Coach Japan entered into a
cross-currency swap transaction to hedge its fixed rate U.S. dollar
denominated intercompany loan. These contracts qualify
for hedge accounting and have been designated as cash flow
hedges. The fair value of these contracts is recorded in
other comprehensive income and recognized in earnings in the period
in which the hedged item is also recognized in
earnings. The fair value of the foreign currency
derivative is based on its market value. Considerable
judgment is required of management in developing estimates of fair
value. The use of different market assumptions or
methodologies could affect the estimated fair
value.
|
| Foreign Currency Transactions and Translations Policy |
Foreign Currency
The functional currency of the Company's foreign operations is
generally the applicable local currency. Assets and
liabilities are translated into U.S. dollars using the current
exchange rates in effect at the balance sheet date, while revenues
and expenses are translated at the weighted-average exchange rates
for the period. The resulting translation adjustments
are recorded as a component of accumulated other
comprehensive income
(loss) within stockholders’ equity.
|
| Earnings Per Share, Policy |
Net Income Per Share
Basic net income per share is calculated by dividing net income by
the weighted-average number of shares outstanding during the
period. Diluted net income per share is calculated
similarly but includes potential dilution from the exercise of
stock options and vesting of stock awards.
|
| Subsequent Events Policy |
Subsequent Event Evaluation
The Company evaluated subsequent events through the date these
financial statements were issued, and concluded there were no
events to recognize or disclose.
|
| New Accounting Pronouncements |
Recent Accounting Pronouncements
ASC 820-10, “Fair Value Measurements and
Disclosures,” defines fair value, establishes a
framework for measuring fair value in generally accepted accounting
principles and expands disclosures about fair value measurements.
The Company adopted the provisions of the standard related to
financial assets and liabilities in the first quarter of fiscal
2009. During the first quarter of fiscal 2010, the Company adopted
the provisions of the standard related to non-financial assets and
liabilities measured at fair value on a non-recurring basis with no
material impact on our consolidated financial statements. For
further information about the fair value measurements of our
financial assets and liabilities, see note on Fair Value
Measurements.
ASC 820-10 was amended in January 2010 to require additional
disclosures related to recurring and nonrecurring fair value
measurements. The guidance requires disclosure of transfers of
assets and liabilities between Levels 1 and 2 of the fair value
hierarchy, including the reasons and the timing of the transfers
and information on purchases, sales, issuances, and settlements on
a gross basis in the reconciliation of the assets and liabilities
measured under Level 3 of the fair value hierarchy. The guidance
was effective for the Company beginning on December 27, 2009 and
its adoption did not have a material impact on our consolidated
financial statements.
ASC 855, “Subsequent
Events,” was amended in February 2010. Under the
amended guidance, SEC filers are no longer required to disclose the
date through which subsequent events have been evaluated in
originally issued and revised financial statements. This guidance
was effective immediately and the Company adopted these new
requirements for the period ended March 27, 2010, as described in
the preceding section, Subsequent Event
Evaluation.
|
| X | ||||||||||
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- Definition
Estimates And Assumptions, Policy [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the estimated fair value of financial instruments including those carried at fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Disclosure related to Fiscal Year. No definition available.
|
| X | ||||||||||
|
- Definition
New Accounting Pronouncements [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Describes the entity's accounting policy for recording or deferring costs prior to opening of new stores. No definition available.
|
| X | ||||||||||
|
- Definition
Share based Compensation, Policy [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Share Repurchase Program Disclosure No definition available.
|
| X | ||||||||||
|
- Definition
Subsequent Events Policy [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Describes an entity's accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
A description of a company's cash and cash equivalents accounting policy. An entity shall disclose its policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. In addition, cash equivalents include short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. For a bank, may include explanation and amount of requirement to maintain reserves against deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Description of any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. The entity should inform financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. Disclosure of any financial instrument credit risk concentration also should indicate the maximum amount of loss that would be incurred upon complete failure of the counterparty to perform and the entity's collateral policies or other policies that limit the loss exposure. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Describes an entity's accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. An entity also may describe its accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Describes an entity's accounting policies for recognition of costs in the period which correspond to the sales and revenue categories presented in the statement of operations. Description may include the amount and nature of costs incurred, provisions associated with inventories, purchase discounts, freight and other costs included in cost of sales incurred and recorded in the period. This description also includes the nature of costs of sales incurred and recorded in the statement of operations for the period relating to transactions with related parties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Discloses the methodology and assumptions used to compute basic and diluted earnings (loss) per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Describes a reporting enterprise's accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Describes an entity's accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Describes an entity's accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Describes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Describes an entity's accounting policies covering its major classes of inventories, bases of stating inventories (for example lower of cost or market), methods by which amounts are added and removed from inventory classes (for example FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this description includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Describes an entity's accounting policies for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the description may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Describes an entity's accounting policy for leasing arrangements (both lessor and lessee). This description may address (1) lease classification (that is, operating versus capital), (2) how the term of a lease is determined (for example, the circumstances in which a renewal option is considered part of the lease term), (3) how rental revenue or expense is recognized for a lease that contains rent escalations, (4) an entity's accounting treatment for deferred rent, including that which arises from lease incentives, rent abatements, rent holidays, or tenant allowances (5) an entity's accounting treatment for contingent rental payments and (6) an entity's policy for reviewing, at least annually, the residual values of sales-type and direct-finance leases. The description also may indicate how the entity accounts for its capital leases, leveraged leases or sale-leaseback transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Describes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Describes an entity's accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction should be disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Describes the nature of and identifies the significant items comprising an entity's selling, general and administrative (or similar) report caption. No definition available.
|
| X | ||||||||||
|
- Definition
Description of the accounting policy associated with the classification of shipping and handling costs including whether the costs are included in cost of sales or included in other income statement accounts. If shipping and handling fees are significant and are not included in cost of sales, disclosure includes both the amounts of such costs and the line item on the income statement which includes such costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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ACQUISITIONS (Tables)
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Jul. 03, 2010
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| Business Combination, Condensed Statement of Assets Acquired and Liabilities Assumed Disclosure |
The following table summarizes the fair values of the assets
acquired at the dates of acquisition:
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- Definition
Business Combination, Condensed Statement of Assets Acquired and Liabilities Assumed Disclosure [Text Block] No definition available.
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SHARE-BASED COMPENSATION (Tables)
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Jul. 03, 2010
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| Stock Based Compensation |
The following table shows the total compensation cost charged
against income for these plans and the related tax benefits
recognized in the income statement:
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| Schedule of Share-based Compensation, Options Activity |
A summary of option activity under the Coach stock option plans as
of July 3, 2010 and changes during the year then ended is as
follows:
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| Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used |
The fair value of
each Coach option grant is estimated on the date of grant using the
Black-Scholes option pricing model and the following
weighted-average assumptions:
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| Schedule of Nonvested Stock-Based Awards |
The following table summarizes information about non-vested shares
as of and for the year ended July 3, 2010:
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| Compensation Expense, Fair Value of Employee Purchase Rights |
Compensation expense is calculated for the fair value of
employees’ purchase rights using the Black-Scholes model and
the following weighted-average assumptions:
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- Definition
Compensation Expense, Fair Value of Employee Purchase Rights [Text Block] No definition available.
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- Definition
Schedule of Nonvested Stock-Based Awards [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Schedule of Share-based Compensation, Options Activity. No definition available.
|
| X | ||||||||||
|
- Definition
For each plan, identification of the award pricing model or other valuation method used in calculating the weighted average fair values disclosed. The model is also used to calculate the compensation expense that is shown within the balance sheet, income statement, and cash flow. Examples of valuation techniques are lattice models (binomial model), closed-form models (Black-Scholes-Merton formula), and a Monte Carlo simulation technique. Fair value is the amount at which an asset (or liability) could be bought (or incurred) or sold (or settled) in a current transaction between willing parties, that is, other than in a forced or liquidation sale. May include disclosures about the assumptions underlying application of the method selected. No definition available.
|
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- Definition
Stock Based Compensation [Text Block] No definition available.
|
|
LEASES (Tables)
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Jul. 03, 2010
|
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| Schedule of Operating Lease Obligations |
Rent expense for the Company's operating leases consisted of the
following:
|
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| Future Minimum Rental Payments |
|
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| X | ||||||||||
|
- Definition
Future Minimum Rental Payments [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Schedule of Operating Lease Obligations [Text Block] No definition available.
|
|
FAIR VALUE MEASUREMENTS (Tables)
|
24 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jul. 03, 2010
|
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| Fair Value, by Balance Sheet Grouping |
The following table shows the fair value measurements of the
Company’s assets and liabilities at July 3, 2010 and June 27,
2009:
(a) The
fair value of the security is determined using a model that takes
into consideration the financial conditions of the issuer and the
bond insurer, current market conditions and the value of the
collateral bonds.
(b) The
Company enters into zero-cost collar options to manage its exposure
to foreign currency exchange rate fluctuations
resulting from Coach
Japan's
and Coach
Canada’s
U.S. dollar-denominated inventory purchases. The fair
value of these cash flow hedges is primarily based on the forward
curves of the specific indices upon which settlement is
based and
includes an adjustment for the counterparty’s or
Company’s credit
risk.
(c) The
Company is a party to a cross-currency swap transaction in order to
manage its exposure to foreign currency exchange rate
fluctuations
resulting from Coach
Japan's
U.S. dollar-denominated fixed rate intercompany
loan. The fair value of this cash flow hedge is
primarily based on the forward curves of the specific indices upon
which settlement is based and includes an adjustment for the
Company's credit risk.
|
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| Fair Value, Assets Measured on Recurring Basis |
The table below
presents the changes in the fair value of the auction rate
security during fiscal
2009:
|
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| Fair Value, Liabilities Measured on Recurring Basis |
The table below
presents the changes in the fair value of the cross-currency swap
during fiscal 2010 and
2009:
|
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| X | ||||||||||
|
- Definition
This element represents the disclosure related to assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents certain of the disclosures concerning the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the disclosure related to liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
DEBT (Tables)
|
24 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 03, 2010
|
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| Future Principal Payments |
As of July 3, 2010, the remaining balance on the mortgage was
$22,656. Future principal payments under these
obligations are as follows:
|
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| X | ||||||||||
|
- Definition
Future Principal Payments [Text Block] No definition available.
|
|
COMMITMENTS AND CONTINGENCIES (Tables)
|
24 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 03, 2010
|
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| Executive Employment Agreements and Expiration Dates |
The Company’s employment agreements and the respective
expiration dates are as follows:
|
| X | ||||||||||
|
- Definition
Executive Employment Agreements and Expiration Dates [Text Block] No definition available.
|
|
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
|
24 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jul. 03, 2010
|
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| Derivative Instruments Designated as Cash Flow Hedges, Activity, Disclosure |
The following tables provide information related to the
Company’s derivatives:
|
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| Schedule of Derivative Instruments Recognized in Other Comprehensive Income |
|
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| Derivative Instruments Gain (Loss) by Hedging Relationship by Income Statement Location |
|
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| Cash Flow Hedges Included Accumulated Other Comprehensive Income (Loss) |
Hedging activity affected accumulated other comprehensive (loss)
income, net of tax, as follows:
|
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| X | ||||||||||
|
- Definition
Cash Flow Hedges Included Accumulated Other Comprehensive Income (Loss) [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Derivative Instruments Designated as Cash Flow Hedges, Activity, Disclosure [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Derivative Instruments Gain (Loss) by Hedging Relationship by Income Statement Location [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Schedule of Derivative Instruments Recognized in Other Comprehensive Income No definition available.
|
|
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
|
24 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jul. 03, 2010
|
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| Schedule of Goodwill |
The changes in the carrying amount of goodwill for the years ended
July 3, 2010 and June 27, 2009 are as follows:
|
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| X | ||||||||||
|
- Definition
The carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill during the period in total and for each reportable segment. At least annually, an Entity must evaluate its goodwill for impairment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INCOME TAXES (Tables)
|
24 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jul. 03, 2010
|
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| Income Tax Disclosure Table |
The provisions for income taxes computed by applying the U.S.
statutory rate to income before taxes as reconciled to the actual
provisions were:
|
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| Current And Deferred Tax Provisions Benefits |
|
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| Deferred Tax Assets and Liabilities |
|
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| Unrecognized Tax Benefits Reconciliation, Table |
A reconciliation of the beginning and ending gross amount of
unrecognized tax benefits is as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Current And Deferred Tax Provisions Benefits [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Assets and Liabilities [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Income Tax Disclosure Table. No definition available.
|
| X | ||||||||||
|
- Definition
Unrecognized Tax Benefits Reconciliation, Table [Text Block] No definition available.
|
|
SEGMENT INFORMATION (Tables)
|
24 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jul. 03, 2010
|
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| Schedule of Segment Reporting Information, by Segment |
In connection with the acquisitions of the retail businesses in
Hong Kong, Macau and mainland China, the Company evaluated the
composition of its reportable segments and concluded that sales in
these regions should be included in the Direct-to-Consumer
segment. Accordingly, all prior year comparable sales
and operating income have been reclassified to conform to the
current year presentation.
|
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| Schedule of Unallocated Items and Eliminations |
The following is a
summary of the common costs not allocated in the determination of
segment performance:
|
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| Schedule of Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country |
Geographic long-lived asset information is based on the physical
location of the assets at the end of each period and includes
property and equipment, net and other assets.
|
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| X | ||||||||||
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- Definition
Schedule of Unallocated Items and Eliminations [Text Block] No definition available.
|
| X | ||||||||||
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- Definition
This element may be used to disclose in its entirety the names of foreign countries in which material long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets are located, and amount of such long-lived assets located in that country or foreign geographic area. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element may be used to capture the complete disclosure about the profit or loss and total assets for each reportable segment, as a single block of text. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EARNINGS PER SHARE (Tables)
|
24 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 03, 2010
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| Earnings Per Share Computation |
The following is a
reconciliation of the weighted-average shares outstanding and
calculation of basic and diluted earnings per
share:
|
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| X | ||||||||||
|
- Definition
Earnings Per Share Computation. No definition available.
|
|
DISCONTINUED OPERATIONS (Tables)
|
24 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 03, 2010
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| Schedule of Disposal Groups, Including Discontinued Operations, Income Statement Disclosures |
The following table summarizes results of the corporate accounts
business:
|
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| X | ||||||||||
|
- Definition
Text block for income statement disclosures relating to disposal groups, including those classified as components of the entity (discontinued operations). May include the facts and circumstances leading to the expected or completed disposal or to changes in the plan of sale, manner and timing of disposal, the gain or loss recognized in the income statement and the income statement caption that includes that gain or loss, amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also includes the nature and amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. No definition available.
|
|
SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)
|
24 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 03, 2010
|
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| Supplemental Balance Sheet Information Table |
The components of
certain balance sheet accounts are as
follows:
|
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| X | ||||||||||
|
- Definition
Supplemental Balance Sheet Information Table [Text Block] No definition available.
|
|
Schedule II - Valuation and Qualifying Accounts (Tables)
|
24 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 03, 2010
|
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| Schedule of Valuation and Qualifying Accounts Disclosure Table |
Schedule II –
Valuation and Qualifying Accounts
For the Fiscal Years
Ended July 3, 2010, June 27, 2009 and June 28,
2008
(amounts in
thousands)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Schedule of Valuation and Qualifying Accounts Disclosure Table [Text Block] No definition available.
|
|
SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Asset impairment charge | $ 1,500 | ||
| Total cumulative amount of common stock repurchase price allocated to retained earnings | 4,000,000 | ||
| Advertising expenses | 61,241 | 50,078 | 57,380 |
| Shipping and handling costs | $ 22,661 | $ 26,142 | $ 28,433 |
| X | ||||||||||
|
- Definition
Cumulative Stock Repurchase Price Allocated to Retained Earnings No definition available.
|
| X | ||||||||||
|
- Definition
Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
ACQUISITIONS - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 24 Months Ended | |
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jul. 03, 2010
|
|
| Purchase price of the Hong Kong, Macau and mainland China businesses | $ 1,200 | $ 24,400 | $ 25,600 |
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Values of Assets Acquired (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
|||||
|---|---|---|---|---|---|---|
| Current assets | $ 9,967 | |||||
| Fixed assets | 7,080 | |||||
| Other assets | 2,299 | |||||
| Goodwill | 6,254 | |||||
| Total assets acquired | 25,600 | |||||
|
Hong Kong and Macau
|
||||||
| Current assets | 5,099 | [1] | ||||
| Fixed assets | 3,555 | [1] | ||||
| Other assets | 2,299 | [1] | ||||
| Goodwill | 3,554 | [1] | ||||
| Total assets acquired | 14,507 | [1] | ||||
|
Mainland China
|
||||||
| Current assets | 4,868 | [2] | ||||
| Fixed assets | 3,525 | [2] | ||||
| Goodwill | 2,700 | [2] | ||||
| Total assets acquired | $ 11,093 | [2] | ||||
|
||||||
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to assets acquired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to current assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to noncurrent assets of the acquired entity, except for property plant and equipment, intangible assets, and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to property, plant and equipment to be used in ongoing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Total Compensation Cost and Related Tax Benefits (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Share-based compensation expense | $ 81,420 | $ 67,542 | $ 66,979 |
| Income tax benefit related to share-based compensation expense | $ 28,446 | $ 23,920 | $ 24,854 |
| X | ||||||||||
|
- Definition
The total recognized tax benefit related to compensation cost for share-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements. Represents currently earned compensation under compensation arrangements that is not actually paid until a later date. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate proceeds received by the entity during the annual period from exercises of stock options and conversion of similar instruments granted under share-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Disclosure of the aggregate tax benefit realized from the exercise of stock options and the conversion of similar instruments during the annual period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the latest balance-sheet date presented, the total compensation cost related to outstanding, nonvested share-based compensation awards not yet recognized (will be charged against earnings as services are performed or other vesting criteria are met). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average period over which unrecognized share-based compensation costs are expected to be reported. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An entity may opt to disclose the discount rate from market value on offering date or purchase date that participants pay for shares. Typically, the participant's per share cost is the lower of the prices on the two dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant for nonvested share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total fair value of share-based awards for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The quantity of shares issuable on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued during the period as a result of any share-based compensation plan other than an employee stock ownership plan (ESOP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary of Option Activity (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Jul. 03, 2010
|
|
| Outstanding beginning of period | 31,287 |
| Granted | 3,818 |
| Exercised | (8,871) |
| Forfeited or expired | (1,329) |
| Outstanding end of period | 24,905 |
| Vested or expected to vest at July 3, 2010 | 24,836 |
| Exercisable at July 3, 2010 | 15,473 |
| Outstanding beginning of period | $ 29.12 |
| Granted | $ 29.93 |
| Exercised | $ 23.55 |
| Forfeited or expired | $ 35.88 |
| Outstanding end of period | $ 30.87 |
| Vested or expected to vest at July 3, 2010 | $ 30.87 |
| Exercisable at July 3, 2010 | $ 31.09 |
| Outstanding at July 3, 2010 | 5.7 |
| Vested or expected to vest at July 3, 2010 | 5.6 |
| Exercisable at July 3, 2010 | 4.3 |
| Outstanding at July 3, 2010 | $ 159,470 |
| Vested or expected to vest at July 3, 2010 | 159,110 |
| Exercisable at July 3, 2010 | $ 101,283 |
| X | ||||||||||
|
- Definition
Share based Compensation Arrangement by Share based Payment Award Options Exercisable Aggregate Intrinsic Value No definition available.
|
| X | ||||||||||
|
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance-sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average period between the balance-sheet date and expiration for all vested portions of options outstanding and currently exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years. No definition available.
|
| X | ||||||||||
|
- Definition
The decrease in the number of reserved shares that could potentially be issued attributable to the exercise or conversion during the reporting period of previously issued stock options under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price at which option holders acquired shares when converting their stock options into shares under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated during the reporting period due to noncompliance with plan terms during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The quantity of shares issuable on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options awarded under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options outstanding under the plan as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance-sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average period between the balance-sheet date and expiration for all awards outstanding under the plan, which may be expressed in a decimal value for number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of fully vested and expected to vest options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted-average period between the balance-sheet date and expiration date for fully vested and expected to vest options outstanding, which may be expressed in a decimal value for number of years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value of Option Grants, Weighted Average Assumptions (Detail)
|
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Dividend yield | 0.00% | ||
|
Stock Option
|
|||
| Expected term (years) | 3.0 | 3.0 | 2.6 |
| Expected volatility | 49.40% | 44.70% | 32.90% |
| Risk-free interest rate | 1.70% | 2.70% | 4.20% |
| Dividend yield | 1.00% | 0.00% | |
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The period of time a share-based award is expected to be outstanding. A share-based award's expected term shall be determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. An entity is required to aggregate individual awards into relatively homogeneous groups. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage amount by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary Information about Non-vested Shares (Detail) (Capital Units, USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
|
Capital Units
|
|||
| Nonvested beginning of period | 2,583 | ||
| Granted | 2,184 | ||
| Vested | (768) | ||
| Forfeited | (219) | ||
| Nonvested end of period | 3,780 | 2,583 | |
| Nonvested beginning of period | $ 29.36 | ||
| Granted | $ 30.55 | $ 24.62 | $ 40.47 |
| Vested | $ 31.99 | ||
| Forfeited | $ 31.03 | ||
| Nonvested end of period | $ 29.40 | $ 29.36 | |
| X | ||||||||||
|
- Definition
The number of shares under a share-based award plan other than a stock option plan that were settled during the reporting period due to a failure to satisfy vesting conditions pertaining to all option plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of the grant date of share-based award plans other than stock option plans that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares issuable under a share-based award plan pertaining to grants made during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant for nonvested share-based awards issued during the period on other than stock option plans (for example, phantom stock plan, stock appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of outstanding awards on nonstock option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on share-based plans excluding option plans (for example, phantom stock plan, stock appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The decrease in the number of shares potentially issuable under a share-based award plan pertaining to awards for which the grantee has gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of grant dates pertaining to a share-based award plan other than a stock option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value of Employees' Purchase Rights, Weighted Average Assumptions (Detail)
|
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Dividend yield | 0.00% | ||
|
Employee Stock Purchase Plan
|
|||
| Expected term (years) | 0.5 | 0.5 | 0.5 |
| Expected volatility | 57.60% | 64.70% | 28.40% |
| Risk-free interest rate | 0.20% | 1.10% | 4.10% |
| Dividend yield | 1.00% | ||
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The period of time a share-based award is expected to be outstanding. A share-based award's expected term shall be determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. An entity is required to aggregate individual awards into relatively homogeneous groups. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage amount by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Rent Expense for Operating Leases (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Minimum rentals | $ 121,563 | $ 107,272 | $ 92,675 |
| Contingent rentals | 59,806 | 43,995 | 40,294 |
| Total rent expense | $ 181,369 | $ 151,267 | $ 132,969 |
| X | ||||||||||
|
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, shall be excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the payments that the lessee is obligated to make or can be required to make in connection with a property under the terms of an agreement classified as an operating lease, excluding contingent rentals and a guarantee by the lessee of the lessor's debt and the lessee's obligation to pay (apart from the rental payments) executory costs such as insurance, maintenance, and taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Future Minimum Rental Payments under Noncancelable Operating Leases (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
|---|---|
| 2011 | $ 137,884 |
| 2012 | 131,457 |
| 2013 | 119,577 |
| 2014 | 109,703 |
| 2015 | 95,845 |
| Subsequent to 2015 | 328,274 |
| Total minimum future rental payments | $ 922,740 |
| X | ||||||||||
|
- Definition
Operating Leases, Future Minimum Payments, Due Next Year No definition available.
|
| X | ||||||||||
|
- Definition
The total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fifth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fourth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the third year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the second year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due after the fifth year from the balance sheet date on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements of Assets and Liabilities (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Auction Rate Securities
|
|||||||||||
| Derivative assets | $ 6,000 | $ 6,000 | $ 8,000 | ||||||||
|
Cross Currency Interest Rate Contract
|
|||||||||||
| Derivative liabilities | 2,418 | 36,118 | 5,540 | ||||||||
|
Fair Value, Inputs, Level 2
|
|||||||||||
| Derivative assets | 2,052 | ||||||||||
| Derivative liabilities | 5,120 | 943 | |||||||||
|
Fair Value, Inputs, Level 2 | Foreign Exchange Contract
|
|||||||||||
| Derivative assets | 2,052 | [1] | |||||||||
| Derivative liabilities | 5,120 | [1] | 943 | [1] | |||||||
|
Fair Value, Inputs, Level 3
|
|||||||||||
| Derivative assets | 6,000 | 6,000 | |||||||||
| Derivative liabilities | 2,418 | 36,118 | |||||||||
|
Fair Value, Inputs, Level 3 | Auction Rate Securities
|
|||||||||||
| Derivative assets | 6,000 | [2] | 6,000 | [2] | |||||||
|
Fair Value, Inputs, Level 3 | Cross Currency Interest Rate Contract
|
|||||||||||
| Derivative liabilities | $ 2,418 | [3] | $ 36,118 | [3] | |||||||
|
|||||||||||
| X | ||||||||||
|
- Definition
This element represents a certain statement of financial position asset caption which represents a class of assets, or which may include an individual asset, measured at fair value on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents a certain statement of financial position liability caption which represents a class of liabilities, or which may include an individual liability, measured at fair value on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
FAIR VALUE MEASUREMENTS - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||
|---|---|---|---|---|
|
Jul. 03, 2010
|
Jul. 03, 2010
Auction Rate Securities
|
Jun. 27, 2009
Auction Rate Securities
|
Jun. 28, 2008
Auction Rate Securities
|
|
| Fair value of auction rate security classified as a long-term investment | $ 6,000 | $ 6,000 | $ 8,000 | |
| Purchase of short-term investments consisting of U.S. treasury bills and commercial paper | 229,860 | |||
| Short-term investments | $ 99,928 |
| X | ||||||||||
|
- Definition
This element represents a certain statement of financial position asset caption which represents a class of assets, or which may include an individual asset, measured at fair value on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for securities or other assets acquired with excess cash, having ready marketability, which qualify for treatment as an investing activity based on management's intention and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Changes in Fair Value of Auction Rate Security (Detail) (Auction Rate Securities, USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Jun. 27, 2009
|
Jul. 03, 2010
|
|
|
Auction Rate Securities
|
||
| Beginning Balance | $ 8,000 | $ 6,000 |
| Unrealized other-than-temporary loss, recognized in selling, general and administrative expenses | (2,000) | |
| Ending Balance | $ 6,000 | $ 6,000 |
| X | ||||||||||
|
- Definition
This item represents the gross unrealized losses for securities which are categorized neither as held-to-maturity nor trading securities. Such gross unrealized losses are the excess of the carrying value of the Available-for-sale Securities over their fair value as of the reporting date. Such gross unrealized losses are recognized in selling, general and administrative expenses. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents a certain statement of financial position asset caption which represents a class of assets, or which may include an individual asset, measured at fair value on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value of Cross-Currency Swap (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Unrealized loss on cross-currency swap maturing on June 30, 2011, recorded in accumulated other comprehensive income | $ (1,757) | $ (7,278) | $ 5,782 |
|
Cross Currency Interest Rate Contract
|
|||
| Beginning Balance | 36,118 | 5,540 | |
| Settlement of cross-currency swap on July 2, 2010 | (36,118) | ||
| Unrealized loss on cross-currency swap maturing on June 30, 2011, recorded in accumulated other comprehensive income | 2,418 | 30,578 | |
| Ending Balance | $ 2,418 | $ 36,118 | |
| X | ||||||||||
|
- Definition
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset and Liabilities, Settlements No definition available.
|
| X | ||||||||||
|
- Definition
This element represents a certain statement of financial position liability caption which represents a class of liabilities, or which may include an individual liability, measured at fair value on a recurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Change in accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges, net of tax effect. The after tax effect change includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
DEBT - Additional Information (Detail)
In Thousands, unless otherwise specified |
Jul. 03, 2010
USD ($)
|
Jun. 27, 2009
USD ($)
|
Jul. 03, 2010
Bonds
USD ($)
|
Jun. 27, 2009
Bonds
USD ($)
|
Jul. 03, 2010
Mortgages
USD ($)
|
Jul. 03, 2010
Bank of America
USD ($)
|
Jul. 03, 2010
Japan
USD ($)
|
Jul. 03, 2010
Japan
JPY (¥)
|
Jun. 27, 2009
Japan
USD ($)
|
Jul. 03, 2010
Coach Shanghai Limited
USD ($)
|
Jul. 03, 2010
Coach Shanghai Limited
CNY
|
Jun. 27, 2009
Coach Shanghai Limited
USD ($)
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Credit facilities, maximum borrowing capacity | $ 100,000 | $ 46,681 | ¥ 4,100,000 | $ 9,896 | 67,000,000 | |||||||
| Credit facility can be expanded to maximum amount | 200,000 | |||||||||||
| Commitment fee, minimum (basis points) | 6 | |||||||||||
| Tokyo Interbank margin, current (basis points) | 30 | 30 | ||||||||||
| Commitment fee, maximum (basis points) | 12.5 | |||||||||||
| LIBOR margin, minimum (basis points) | 20 | |||||||||||
| LIBOR margin, maximum (basis points) | 55 | |||||||||||
| Commitment fee, current (basis points) | 7 | |||||||||||
| LIBOR margin, current (basis points) | 30 | |||||||||||
| Credit facilities, borrowing capacity | 275,000 | 275,000 | 89,993 | 0 | 14,404 | 7,496 | 7,496 | |||||
| Credit facilities, outstanding | 147,380 | 101,940 | 0 | |||||||||
| Debt, interest rate | 4.68% | 4.50% | 4.68% | |||||||||
| Debt, final payment | 21,555 | 21,555 | ||||||||||
| Debt, remaining balance | $ 23,000 | $ 2,245 | $ 2,580 | $ 22,656 |
| X | ||||||||||
|
- Definition
Commitment Fee Current No definition available.
|
| X | ||||||||||
|
- Definition
Commitment Fee Maximum No definition available.
|
| X | ||||||||||
|
- Definition
Commitment Fee Minimum No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Final Payment Amount No definition available.
|
| X | ||||||||||
|
- Definition
LIBORS Spread Current No definition available.
|
| X | ||||||||||
|
- Definition
LIBORS Spread Maximum No definition available.
|
| X | ||||||||||
|
- Definition
LIBORS Spread Minimum No definition available.
|
| X | ||||||||||
|
- Definition
Line of Credit Facility, Potential Maximum Borrowing Capacity No definition available.
|
| X | ||||||||||
|
- Definition
Tokyo Interbank Spread Current No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of outstanding principal due under the debt instrument at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Future Mortgage Principal Payments (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
|---|---|
| 2011 | $ 742 |
| 2012 | 791 |
| 2013 | 22,383 |
| 2014 | 500 |
| 2015 | 485 |
| Subsequent to 2015 | |
| Total | $ 24,901 |
| X | ||||||||||
|
- Definition
Amount of the total principal payments made during the annual reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturities after year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing within the next twelve months following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year four following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year three following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year two following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
Jun. 27, 2009
|
|---|---|---|
| Letters of credit available | $ 275,000 | $ 275,000 |
| Letters of credit amount outstanding | 147,380 | 101,940 |
|
Inventory Purchase Obligations
|
||
| Contractual cash obligations | 166,596 | 105,114 |
|
Capital Expenditure Purchase Obligations
|
||
| Contractual cash obligations | $ 1,611 | $ 2,370 |
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance-sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current borrowing capacity under the credit facility considering any current restrictions on the amount that could be borrowed (for example, borrowings may be limited by the amount of current assets), but without considering any amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the fixed and determinable portion of an unrecorded unconditional purchase obligation as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Employment Agreements and Respective Expiration Dates (Detail)
|
12 Months Ended |
|---|---|
|
Jul. 03, 2010
|
|
|
Chairman and Chief Executive Officer
|
|
| Executive | Lew Frankfort |
| Expiration Date | 2011-08 |
|
President and Executive Creative Director
|
|
| Executive | Reed Krakoff |
| Expiration Date | 2014-06 |
|
President North America Retail Division
|
|
| Executive | Michael Tucci |
| Expiration Date | 2013-06 |
| X | ||||||||||
|
- Definition
Employment Agreement Expiration Date No definition available.
|
| X | ||||||||||
|
- Definition
Key Executive Name No definition available.
|
|
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
|
| Coach Japan's U.S. dollar-denominated fixed rate intercompany loan | $ 139,400 | |
| Oustanding foreign currency forward contracts | 248,555 | 32,041 |
| Amount of gain or (loss) recognized in OCI on derivatives (effective portion), tax | 2,858 | 7,123 |
| Expected amount of net derivative losses included in accumulated other comprehensive income that will be reclassified into earnings within the next 12 months | $ 2,634 | |
| X | ||||||||||
|
- Definition
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income, Effective Portion, Deferred Taxes No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the hedged item as of the balance sheet date related to the derivative. For example, the hedged balance on a debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of net gains (losses) on foreign currency cash flow hedges reclassified during the period to earnings from accumulated other comprehensive income upon the hedged transaction affecting earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of all foreign currency derivatives designated as hedging instruments in cash flow hedges. Notional amount refers to the number of currency units specified in the foreign currency derivative contract. No definition available.
|
|
Fair Value of Derivatives Designated as Hedging Instruments (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
Jun. 27, 2009
|
|---|---|---|
| Foreign exchange contracts | $ 2,052 | |
| Foreign exchange contracts | 7,538 | 37,061 |
|
Foreign Exchange Contract | Other Current Assets
|
||
| Foreign exchange contracts | 2,052 | |
|
Foreign Exchange Contract | Accrued Liabilities
|
||
| Foreign exchange contracts | $ 7,538 | $ 37,061 |
| X | ||||||||||
|
- Definition
Fair value of a derivative asset (or nonderivative instrument) that is designated and qualifies as a hedging instrument, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of a derivative liability (or nonderivative instrument) that is designated and qualifies as a hedging instrument, presented on a gross basis even when the derivative instrument is subject to master netting arrangements and qualifies for net presentation in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Amount of Gain or (Loss) Recognized in OCI on Derivatives Cash Flow Hedging Relationships (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
|
| Foreign exchange contracts | $ (3,363) | $ (10,193) |
|
Cash Flow Hedging
|
||
| Foreign exchange contracts | (3,363) | (10,193) |
|
Cash Flow Hedging | Foreign Exchange Contract
|
||
| Foreign exchange contracts | $ (3,363) | $ (10,193) |
| X | ||||||||||
|
- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Detail) (Cash Flow Hedging, USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
|
| Cost of Sales | $ (5,453) | $ (5,031) |
|
Foreign Exchange Contract | Cost of Sales
|
||
| Cost of Sales | $ (5,453) | $ (5,031) |
| X | ||||||||||
|
- Definition
The income statement location of the effective portion of net gain or loss reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Hedging Activity Affected Accumulated Other Comprehensive (Loss) Income, Net of Tax (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
|
| Balance at beginning of period | $ (335) | $ 6,943 |
| Net losses transferred to earnings | 1,606 | 2,915 |
| Change in fair value, net of tax | (3,363) | (10,193) |
| Balance at end of period | $ (2,092) | $ (335) |
| X | ||||||||||
|
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net gains (losses) on a cash flow hedge reclassified in the period to earnings from accumulated other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Changes in Carrying Amount of Goodwill (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jul. 03, 2010
Direct to Consumer
|
Jun. 27, 2009
Direct to Consumer
|
Jul. 03, 2010
Indirect
|
Jun. 27, 2009
Indirect
|
Jun. 28, 2008
Indirect
|
|
| Beginning Balance | $ 283,387 | $ 249,118 | $ 281,871 | $ 247,602 | $ 1,516 | $ 1,516 | $ 1,516 |
| Acquisition of Hong Kong, Macau and mainland China retail businesses | 6,254 | 6,254 | |||||
| Foreign exchange impact | 22,474 | 28,015 | 22,474 | 28,015 | |||
| Ending Balance | $ 305,861 | $ 283,387 | $ 304,345 | $ 281,871 | $ 1,516 | $ 1,516 | $ 1,516 |
| X | ||||||||||
|
- Definition
Goodwill, Foreign Exchange Translation No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of goodwill acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
Jun. 27, 2009
|
|---|---|---|
| Intangible assets not subject to amortization | $ 9,788 | $ 9,788 |
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Effective Income Tax Rate No definition available.
|
| X | ||||||||||
|
- Definition
Effective Income Tax Rate Reconciliation, at US Federal Statutory Income Tax Rate No definition available.
|
| X | ||||||||||
|
- Definition
Income (Loss) from Continuing Operations before Income Taxes, United States No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Income (Loss) from Continuing Operations before Income Taxes, Foreign No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Income (Loss) from Continuing Operations before Income Taxes, Minority Interest and Income Loss from Equity Method Investments No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Income (Loss) from Continuing Operations before Income Taxes, United States No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense (benefit) as reported in the Income Statement and the expected income tax expense (benefit) that is attributable to changes in the income tax laws or rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by the difference between statutory income tax rates in foreign jurisdictions and the domestic federal statutory income tax rate recorded during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by the state and local income tax expense (benefit), net of the federal tax benefit (expense) thereon, recorded during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the differences between the effective income tax rate and domestic federal statutory income tax rate attributable to all income tax settlements during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of earnings (loss) from continuing operations before income taxes that is attributable to foreign operations, which is defined as income (loss) generated from operations located outside the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between total income tax expense (benefit) as reported in the Income Statement and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to changes in the income tax rates under enacted tax laws in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to total foreign income tax expense (benefit). The foreign income tax expense (benefit) difference represents the income tax expense (benefit) at applicable domestic statutory income tax rates applied to foreign earnings (loss) for the period versus the foreign income tax expense (benefit) calculated by applying the appropriate foreign tax rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of income tax expense (benefit) for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to state and local income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the differences between total income tax expense (benefit) as reported in the Income Statement and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to all income tax settlements for the period. No definition available.
|
|
Current and Deferred Tax Provisions (Benefits) (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Current | |||
| Federal | $ 384,088 | $ 298,996 | $ 334,381 |
| Foreign | (9,956) | (4,544) | 25,624 |
| State | 59,985 | 45,600 | 68,812 |
| Total current provisions (benefits) | 434,117 | 340,052 | 428,817 |
| Deferred | |||
| Federal | (40,613) | (5,646) | (21,391) |
| Foreign | 28,449 | 14,788 | 5,931 |
| State | (4,965) | 4,518 | (1,447) |
| Total deferred tax provisions (benefits) | $ (17,129) | $ 13,660 | $ (16,907) |
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of foreign enacted tax law to the foreign taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the net change during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the net change in the entity's net foreign deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of applicable enacted tax laws of countries other than the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the net change in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the net change in the entity's state and local deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the applicable enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Components of Deferred Tax Assets and Liabilities (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
Jun. 27, 2009
|
|---|---|---|
| Share-based compensation | $ 74,455 | $ 74,328 |
| Reserves not deductible until paid | 81,396 | 74,159 |
| Goodwill | 22,923 | |
| Pensions and other employee benefits | 45,935 | 15,623 |
| Property and equipment | 17,121 | 641 |
| Net operating loss | 40,890 | 26,430 |
| Other | 3,194 | 1,438 |
| Gross deferred tax assets | 262,991 | 215,542 |
| Prepaid expenses | 7,426 | 5,860 |
| Equity adjustments | ||
| Goodwill | 20,521 | |
| Other | 1,224 | 1,114 |
| Gross deferred tax liabilities | 29,171 | 6,974 |
| Net amount recognized | 233,820 | 208,568 |
| Consolidated Balance Sheets Classification | ||
| Deferred income taxes - current asset | 77,355 | 49,476 |
| Deferred income taxes - noncurrent asset | 156,465 | 159,092 |
| Deferred income taxes - noncurrent liability | ||
| Net amount recognized | $ 233,820 | $ 208,568 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Deferred Tax Assets Goodwill and Intangible Assets, Goodwill No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Assets, Pension And Postretirement Benefits No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Assets, Property Plant And Equipment No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Liabilities, Equity Adjustments No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Liabilities, Gross No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Liabilities, Prepaid Expense No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amounts of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws ( before the valuation allowance, if any, to reduce such sum amount to net realizable value). Includes any tax benefit realized in deferred tax assets for significant impacts of tax planning strategies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward should be presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of estimated future tax deductions arising from other temporary differences not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from share-based compensation costs, which can only be deducted for tax purposes when actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from all currently nondeductible expenses reflected in all reserves and accrued liabilities, which can only be deducted for tax purposes when relevant losses are realized or relevant obligations are actually incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of the estimated future tax effects attributable to the difference between the tax basis of tax-deductible goodwill and the basis of goodwill computed in accordance with generally accepted accounting principles. The difference in basis will increase future taxable income when such difference reverses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise shall separate deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of the estimated future tax effects attributable to other temporary differences not otherwise specified in this taxonomy that were expensed for tax purposes but capitalized in conformity with generally accepted accounting principles, or which were recognized as revenue under GAAP but not for tax purposes, which will reverse in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INCOME TAXES - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||
|---|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
Jun. 30, 2007
|
|
| Deferred income taxes - noncurrent asset | $ 156,465 | $ 159,092 | ||
| FIN48-prescribed non-cash cumulative transition charge | 48,797 | |||
| Ending gross unrecognized tax benefit | 165,676 | 137,807 | 131,185 | 120,367 |
| Gross unrecognized tax benefit balance, amount that relates to items which, if recognized, would impact the effective tax rate | 77,586 | |||
| Gross interest and penalties payable | 35,331 | 25,960 | ||
| Interest and penalty expense | 6,204 | 5,611 | (3,180) | |
| Net operating loss carryforwards in foreign tax jurisdictions | 97,241 | |||
| Undistributed earnings of foreign subsidiaries | 525,136 | |||
|
Japan Reorganization
|
||||
| Deferred income taxes - noncurrent asset | 103,170 | |||
| Deferred credit for tax effects of future tax deductions | 103,170 | |||
| Deferred expense for net taxes payable | $ 17,715 | |||
| X | ||||||||||
|
- Definition
Cumulative net-of-tax effect of initial adoption of FIN 48 - Accounting for Uncertainty in Income Taxes on the opening balance of retained earnings. The cumulative-effect adjustment does not include items that would not be recognized in earnings, such as the effect of adopting this Interpretation on tax positions related to business combinations. The amount of that cumulative-effect adjustment is the difference between the net amount of assets and liabilities recognized in the statement of financial position prior to the application of this Interpretation and the net amount of assets and liabilities recognized as a result of applying the provisions of this Interpretation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from currently nondeductible expenses pertaining to increases in liabilities and loss reserves, which can only be deducted for tax purposes when such expenses are actually incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects arising from revenue or other income not otherwise listed in the existing taxonomy that is included in accounting income in conformity with generally accepted accounting principles but excluded from tax-basis income, which will increase future taxable income when such income is recognized for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to undistributed earnings of subsidiaries and other recognized entities in countries outside the country of domicile which will increase future taxable income when such earnings are distributed into the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of domestic, foreign and state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits (tax reductions recognized in financial reports but excluded from tax returns) pertaining to uncertain tax positions taken in tax returns as of the beginning balance sheet date, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the total of accruals as of the date of the statement of financial position for interest recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity and the amount of statutory penalties for a tax position claimed or expected to be claimed by the entity, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the total of interest expense recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity and the amount of statutory penalties in the period in which the entity claims or expects to claim a tax position, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reconciliation of Beginning and Ending Gross Amount of Unrecognized Tax Benefits (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Balance at beginning of fiscal year | $ 137,807 | $ 131,185 | $ 120,367 |
| Gross increase due to tax positions related to prior periods | 3,903 | 13,690 | 8,606 |
| Gross decrease due to tax positions related to prior periods | (1,376) | (48,602) | (44,719) |
| Gross increase due to tax positions related to current period | 27,034 | 42,367 | 72,983 |
| Gross decrease due to tax positions related to current period | (24,369) | ||
| Decrease due to lapse of statutes of limitations | (1,692) | (833) | (1,683) |
| Balance at end of fiscal year | $ 165,676 | $ 137,807 | $ 131,185 |
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits (tax reductions recognized in financial reports but excluded from tax returns) pertaining to uncertain tax positions taken in tax returns as of the beginning balance sheet date, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from tax positions that have been or will be taken in the tax return for the current period, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions that have been or will be taken in the tax return for the current period, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from lapses of the applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
DEFINED CONTRIBUTION PLAN - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Annual expense incurred by Coach for defined contribution plan | $ 13,285 | $ 12,511 | $ 11,106 |
| X | ||||||||||
|
- Definition
The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Net sales | $ 3,607,636 | $ 3,230,468 | $ 3,180,757 |
| Operating income (loss) | 1,150,171 | 971,913 | 1,147,129 |
| Income (loss) before provision for income taxes and discontinued operations | 1,151,928 | 977,081 | 1,194,949 |
| Depreciation and amortization expense | 126,744 | 123,014 | 100,704 |
| Total assets | 2,467,115 | 2,564,336 | 2,247,353 |
| Additions to long-lived assets | 80,398 | 248,759 | 187,663 |
|
Direct to Consumer
|
|||
| Net sales | 3,155,860 | 2,726,891 | 2,557,872 |
| Operating income (loss) | 1,245,400 | 996,285 | 1,094,321 |
| Income (loss) before provision for income taxes and discontinued operations | 1,245,400 | 996,285 | 1,094,321 |
| Depreciation and amortization expense | 85,110 | 82,539 | 67,485 |
| Total assets | 1,294,445 | 1,311,341 | 1,035,621 |
| Additions to long-lived assets | 45,003 | 82,852 | 120,288 |
|
Indirect
|
|||
| Net sales | 451,776 | 503,577 | 622,885 |
| Operating income (loss) | 256,637 | 290,981 | 399,401 |
| Income (loss) before provision for income taxes and discontinued operations | 256,637 | 290,981 | 399,401 |
| Depreciation and amortization expense | 10,138 | 10,394 | 9,704 |
| Total assets | 120,739 | 86,235 | 119,561 |
| Additions to long-lived assets | 9,088 | 7,242 | 24,252 |
|
Unallocated Corporate
|
|||
| Operating income (loss) | (351,866) | (315,353) | (346,593) |
| Income (loss) before provision for income taxes and discontinued operations | (350,109) | (310,185) | (298,773) |
| Depreciation and amortization expense | 31,496 | 30,081 | 23,515 |
| Total assets | 1,051,931 | 1,166,760 | 1,092,171 |
| Additions to long-lived assets | $ 26,307 | $ 158,665 | $ 43,123 |
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total expenditures for additions to long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets of the reportable segment. Must be disclosed if the amount (a) is included in the determination of segment assets reviewed by the chief operating decision maker or (b) is otherwise regularly provided to the chief operating decision maker, even if not included in the determination of segment assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary of Common Costs Not Allocated (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Production variances | $ 61,481 | $ 38,229 | $ 26,659 |
| Advertising, marketing and design | (164,082) | (150,714) | (128,938) |
| Administration and information systems | (204,029) | (153,387) | (199,525) |
| Distribution and customer service | (45,236) | (49,481) | (44,789) |
| Total corporate unallocated | $ (351,866) | $ (315,353) | $ (346,593) |
| X | ||||||||||
|
- Definition
The total expense recognized in the period for administrative and information systems. No definition available.
|
| X | ||||||||||
|
- Definition
The total expense recognized in the period for distribution and customer service. No definition available.
|
| X | ||||||||||
|
- Definition
Production variances No definition available.
|
| X | ||||||||||
|
- Definition
The total expense recognized in the period for promotion, public relations, and brand or product advertising. No definition available.
|
| X | ||||||||||
|
- Definition
Total, for reportable segments, of a significant segment item of information disclosed (for example, liabilities) other than profit/loss, revenues, or assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Geographic Area Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
||||||
| Net sales | $ 3,607,636 | $ 3,230,468 | $ 3,180,757 | |||||
| Long-lived assets | 686,360 | 709,660 | 539,883 | |||||
|
United States
|
||||||||
| Net sales | 2,534,372 | 2,318,602 | 2,382,899 | |||||
| Long-lived assets | 567,380 | 595,981 | 452,616 | |||||
|
Japan
|
||||||||
| Net sales | 720,860 | 670,103 | 605,523 | |||||
| Long-lived assets | 76,514 | 82,112 | 76,863 | |||||
|
Other International
|
||||||||
| Net sales | 352,404 | [1] | 241,763 | [1] | 192,335 | [1] | ||
| Long-lived assets | $ 42,466 | [1] | $ 31,567 | [1] | $ 10,404 | [1] | ||
|
||||||||
| X | ||||||||||
|
- Definition
Amount of long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets located in foreign countries. An entity also may provide subtotals of geographic information about groups of countries; accordingly, this element also may be used to provide the amount of such long-lived assets for a group of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reconciliation of Weighted Average Shares Outstanding and Calculation of Basic and Diluted Earnings Per Share (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Income from continuing operations | $ 734,940 | $ 623,369 | $ 783,039 |
| Total weighted-average basic shares | 311,413 | 323,714 | 355,731 |
| Dilutive securities: | |||
| Employee benefit and share award plans | 1,318 | 293 | 608 |
| Stock option programs | 3,117 | 1,613 | 3,993 |
| Total weighted-average diluted shares | 315,848 | 325,620 | 360,332 |
| Earnings from continuing operations per share: | |||
| Basic | $ 2.36 | $ 1.93 | $ 2.20 |
| Diluted | $ 2.33 | $ 1.91 | $ 2.17 |
| X | ||||||||||
|
- Definition
Incremental Common Shares Attributable to share awards not yet vested and other employee benefit plans. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share of common stock outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the income or loss from continuing operations attributable to the reporting entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items and cumulative effects of changes in accounting principles, but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate awards of share options and nonvested shares to be issued to an employee under a share-based compensation arrangement are considered options for purposes of computing diluted earnings per share. Such share-based awards shall be considered to be outstanding as of the grant date for purposes of computing diluted earnings per share even though their exercise may be contingent upon vesting. Those share-based awards are included in the diluted Earnings Per Share (EPS) computation even if the employee may not receive (or be able to sell) the stock until some future date. Accordingly, all shares to be issued shall be included in computing diluted EPS if the effect is dilutive. The dilutive effect of share-based compensation arrangements shall be computed using the treasury stock method. If the equity share options or other equity instruments are outstanding for only part of a period, the shares issuable shall be weighted to reflect the portion of the period during which the equity instruments were outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The average number of shares issued and outstanding that are used in calculating diluted EPS, determined based on the timing of issuance of shares in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares, after adjustment for contingently issuable shares and other shares not deemed outstanding, determined by relating the portion of time within a reporting period that common shares have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EARNINGS PER SHARE - Additional Information (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Options to purchase shares of common stock excluded from the computation of diluted earnings per share | 3,710 | 24,004 | 11,439 |
| Options' exercise prices, lower limit | $ 41.93 | $ 24.33 | $ 33.69 |
| Options' exercise prices, upper limit | $ 51.56 | $ 51.56 | $ 51.56 |
| X | ||||||||||
|
- Definition
Antidilutive Securities Excluded from Computation of Earnings Per Share, Exercise Price Range, Lower Limit No definition available.
|
| X | ||||||||||
|
- Definition
Antidilutive Securities Excluded from Computation of Earnings Per Share, Exercise Price Range, Upper Limit No definition available.
|
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
PURCHASE OF CORPORATE HEADQUARTERS BUILDING - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended |
|---|---|
|
Jun. 27, 2009
|
|
| Purchase amount for corporate headquarters building | $ 126,300 |
| Purchase amount for corporate headquarters building, cash | 103,300 |
| Purchase amount for corporate headquarters building, amount of outstanding mortgage held by the sellers assumed | 23,000 |
| Purchase amount for corporate headquarters building, amount of outstanding mortgage held by the sellers assumed, interest rate | 4.68% |
| Purchase amount for corporate headquarters building, amount of outstanding mortgage held by the sellers assumed, final payment | $ 21,555 |
| X | ||||||||||
|
- Definition
Debt Instrument, Final Payment Amount No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of outstanding principal due under the debt instrument at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for acquisition of buildings (properties) whether for investment or use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The value of all consideration given or received by the Entity in the significant acquisition or disposal. No definition available.
|
|
Summary of Corporate Accounts Business (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended |
|---|---|
|
Jun. 28, 2008
|
|
| Net sales | $ 102 |
| Income before provision for income taxes | 31 |
| Income from discontinued operations | $ 16 |
| X | ||||||||||
|
- Definition
Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of sales or other form of revenues attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items and the cumulative effect of accounting changes before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
DISCONTINUED OPERATIONS - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
Jun. 27, 2009
|
|---|---|---|
| Accrued liabilities related to the corporate accounts business | $ 1,500 | $ 1,500 |
| X | ||||||||||
|
- Definition
For the disposal group, including a component of the entity (discontinued operation), carrying value of obligations incurred and payable pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include interest, rent, salaries, and utilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
STOCK REPURCHASE PROGRAM - Additional Information (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Common stock repurchased and retired | 30,686 | 20,159 | 39,688 |
| Common stock repurchased and retired, average price per share | $ 37.48 | $ 22.51 | $ 33.68 |
| Authorized share repurchase program amount | $ 1,000,000 | ||
| Amount remaining in the stock repurchase program | $ 559,627 | ||
| X | ||||||||||
|
- Definition
Stock Repurchased and Retired During Period Average Price No definition available.
|
| X | ||||||||||
|
- Definition
Stock repurchase program, authorized amount No definition available.
|
| X | ||||||||||
|
- Definition
Stock repurchase program, remaining authorized repurchase amount No definition available.
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased and retired during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Land and buildings, Gross No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all domestic and foreign income tax obligations due beyond one year or the operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for contractual rent under lease arrangements. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer) for contractual rent under lease arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated appreciation or loss, net of tax, in value of the total of unsold securities at the end of an accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total of net (gain) loss, prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains (losses). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount at the balance sheet date of long-lived asset under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents fixtures and equipment of investment properties of the reporting entity as of the date of the statement of financial position. Fixtures may include and consist of: machinery, equipment, engines, boilers, incinerators, installed building materials; systems and equipment for the purpose of supplying or distributing heating, cooling, electricity, gas, water, air, or light; antennas, cable, wiring and conduits used in connection with radio, television, security, fire prevention, or fire detection or otherwise used to carry electronic signals; telephone systems and equipment; elevators and related machinery and equipment; fire detection, prevention and extinguishing systems and apparatus; security and access control systems and apparatus; plumbing systems; water heaters, ranges, stoves, microwave ovens, refrigerators, dishwashers, garbage disposers, washers, dryers and other appliances; light fixtures, awnings, storm windows and storm doors; pictures, screens, blinds, shades, curtains and curtain rods; mirrors; cabinets, paneling, rugs and floor and wall coverings; fences, trees and plants; swimming pools; and such other items as defined by the reporting entity. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount at the balance sheet date of long-lived, depreciable asset that is an addition or improvement to assets held under lease arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of long-lived, depreciable asset used in production process to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of unearned revenue or income not otherwise specified in the taxonomy which is expected to be taken into income after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of current obligations not separately disclosed in the balance sheet due to materiality considerations. Current liabilities are expected to be paid within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet due to materiality considerations. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Obligations not otherwise itemized or previously categorized that are due beyond one year (or operating cycle, if longer) from the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Components of Certain Balance Sheet Accounts (Parenthetical) (Detail) (USD $)
In Thousands, unless otherwise specified |
Jul. 03, 2010
|
Jun. 27, 2009
|
|---|---|---|
| Cumulative effect of adoption of ASC 320-10-35-17, taxes | $ 628 | $ 628 |
| Unrealized losses on cash flow hedging derivatives, taxes | 1,920 | 245 |
| ASC 715 adjustment and minimum pension liability, taxes | $ 1,642 | $ 1,559 |
| X | ||||||||||
|
- Definition
The tax effect from accumulated appreciation or loss, in value of the total of unsold securities at the end of an accounting period. No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect from accumulated change, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect from the total of net (gain) loss, prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. No definition available.
|
|
Valuation and Qualifying Accounts (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 03, 2010
|
Jun. 27, 2009
|
Jun. 28, 2008
|
|
| Balance at Beginning of Year | $ 6,347 | $ 7,717 | $ 6,579 |
| Provision Charged to Costs and Expenses | 7,682 | 12,083 | 10,704 |
| Write-offs/ Allowances Taken | (7,064) | (13,453) | (9,566) |
| Balance at End of Year | 6,965 | 6,347 | 7,717 |
|
Allowance for Bad Debts
|
|||
| Balance at Beginning of Year | 2,840 | 2,500 | 2,915 |
| Provision Charged to Costs and Expenses | (897) | 376 | (350) |
| Write-offs/ Allowances Taken | (36) | (65) | |
| Balance at End of Year | 1,943 | 2,840 | 2,500 |
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Allowance for Returns
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| Balance at Beginning of Year | 3,507 | 5,217 | 3,664 |
| Provision Charged to Costs and Expenses | 8,579 | 11,707 | 11,054 |
| Write-offs/ Allowances Taken | (7,064) | (13,417) | (9,501) |
| Balance at End of Year | $ 5,022 | $ 3,507 | $ 5,217 |
| X | ||||||||||
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- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, charged to costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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