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Cover - shares	9 Months Ended
Cover - shares	Mar. 28, 2020	Apr. 24, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 28, 2020
Document Transition Report	false
Entity File Number	1-16153
Entity Registrant Name	Tapestry, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-2242751
Entity Address, Address Line One	10 Hudson Yards
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	212
Local Phone Number	946-8400
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	TPR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		276,098,489
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001116132
Current Fiscal Year End Date	--06-27

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 28, 2020	Jun. 29, 2019
Current Assets:
Cash and cash equivalents	$ 742.6	$ 969.2
Short-term investments	155.6	264.6
Trade accounts receivable, less allowances of $16.0 and $4.4, respectively	190.4	298.1
Inventories	852.9	778.3
Prepaid expenses	60.2	99.8
Income tax receivable	35.1	55.8
Other current assets	95.1	91.0
Total current assets	2,131.9	2,556.8
Property and equipment, net	818.7	938.8
Operating lease right-of-use assets	1,970.9
Goodwill	1,298.5	1,516.2
Intangible assets	1,381.1	1,711.9
Deferred income taxes	35.9	19.4
Other assets	106.0	134.2
Total assets	7,743.0	6,877.3
Current Liabilities:
Accounts payable	200.1	243.6
Accrued liabilities	573.9	673.6
Current portion of operating lease liabilities	353.4
Current debt	11.5	0.8
Total current liabilities	1,138.9	918.0
Long-term debt	1,587.2	1,601.9
Long-term operating lease liabilities	1,897.3
Deferred income taxes	204.6	234.1
Long-term income taxes payable	147.0	155.9
Other liabilities	214.9	454.0
Total liabilities	5,189.9	3,363.9
See Note 16 on commitments and contingencies
Stockholders' Equity:
Preferred stock: (authorized 25.0 million shares; $0.01 par value per share) none issued	0.0	0.0
Common stock: (authorized 1.0 billion shares; $0.01 par value per share) issued and outstanding - 276.1 million and 286.8 million shares, respectively	2.8	2.9
Additional paid-in-capital	3,346.0	3,302.1
Retained earnings (accumulated deficit)	(699.0)	291.6
Accumulated other comprehensive income (loss)	(96.7)	(83.2)
Total stockholders' equity	2,553.1	3,513.4
Total liabilities and stockholders' equity	$ 7,743.0	$ 6,877.3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 28, 2020	Jun. 29, 2019
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances	$ 16.0	$ 4.4
Preferred stock, authorized (shares)	25,000,000	25,000,000
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, issued (shares)	0	0
Common stock, authorized (shares)	1,000,000,000	1,000,000,000
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, issued (shares)	276,100,000	286,800,000
Common stock, outstanding (shares)	276,100,000	286,800,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Income Statement [Abstract]
Net sales	$ 1,072.7	$ 1,331.4	$ 4,246.6	$ 4,513.4
Cost of sales	456.5	415.5	1,506.2	1,458.9
Gross profit	616.2	915.9	2,740.4	3,054.5
Other selling, general and administrative expenses	824.0	806.1	2,533.5	2,405.9
Impairment of goodwill and intangible assets	477.7	0.0	477.7	0.0
Total selling, general and administrative expenses	1,301.7	806.1	3,011.2	2,405.9
Operating income (loss)	(685.5)	109.8	(270.8)	648.6
Interest expense, net	13.5	10.6	39.8	36.9
Other expense (income)	6.0	4.0	12.8	4.4
Income before provision for income taxes	(705.0)	95.2	(323.4)	607.3
Provision for income taxes	(27.9)	(22.2)	34.9	112.8
Net income (loss)	$ (677.1)	$ 117.4	$ (358.3)	$ 494.5
Net income (loss) per share:
Basic (USD per share)	$ (2.45)	$ 0.40	$ (1.28)	$ 1.71
Diluted (USD per share)	$ (2.45)	$ 0.40	$ (1.28)	$ 1.70
Shares used in computing net income (loss) per share:
Basic (shares)	276.1	290.0	279.4	289.5
Diluted (shares)	276.6	290.9	280.2	291.2
Cash dividends declared per common share (USD per share)	$ 0.3375	$ 0.3375	$ 1.0125	$ 1.0125

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (677.1)	$ 117.4	$ (358.3)	$ 494.5
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on cash flow hedging derivatives, net	1.2	(4.0)	6.5	(2.7)
Unrealized gains (losses) on available-for-sale investments, net	0.0	0.1	0.0	0.2
Other	0.0	0.0	(1.7)	0.0
Foreign currency translation adjustments	(12.9)	4.9	(18.3)	(5.2)
Other comprehensive income (loss), net of tax	(11.7)	1.0	(13.5)	(7.7)
Comprehensive income	$ (688.8)	$ 118.4	$ (371.8)	$ 486.8

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES
Net income (loss)	$ (358.3)	$ 494.5
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	194.9	189.8
Provision for bad debt	16.8	6.4
Share-based compensation	47.0	65.4
Organization-related and integration activities	15.2	13.0
Impairment charges	697.6	0.0
Changes to lease related balances, net	26.1	0.0
Deferred income taxes	(33.3)	41.5
Other non-cash charges, net	4.7	(5.5)
Changes in operating assets and liabilities:
Trade accounts receivable	75.2	50.9
Inventories	(171.6)	(123.1)
Accounts payable	(18.5)	(43.5)
Accrued liabilities	(31.2)	29.1
Other liabilities	(37.6)	(61.2)
Other assets	19.1	(54.5)
Net cash provided by (used in) operating activities	446.1	602.8
CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisitions, net of cash acquired	0.0	(39.4)
Purchases of investments	(212.4)	(336.4)
Proceeds from maturities and sales of investments	316.1	82.3
Purchases of property and equipment	(172.9)	(184.2)
Net cash used in investing activities	(69.2)	(477.7)
CASH FLOWS USED IN FINANCING ACTIVITIES
Dividend payments	(287.1)	(292.8)
Repurchase of common stock	(300.0)	0.0
Proceeds from share-based awards	1.7	31.6
Taxes paid to net settle share-based awards	(14.7)	(26.1)
Payments of finance lease liabilities	(0.6)	(0.6)
Payment of deferred purchase price	(2.4)	0.0
Net cash used in financing activities	(603.1)	(287.9)
Effect of exchange rate changes on cash and cash equivalents	(0.4)	(5.3)
Net decrease in cash and cash equivalents	(226.6)	(168.1)
Cash and cash equivalents at beginning of period	969.2	1,243.4
Cash and cash equivalents at end of period	742.6	1,075.3
Supplemental information:
Cash paid for income taxes, net	80.5	135.3
Cash paid for interest	50.4	45.4
Noncash investing activity - property and equipment obligations	$ 22.4	$ 53.2

Nature of Operations	9 Months Ended
Nature of Operations	Mar. 28, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NATURE OF OPERATIONS Tapestry, Inc. (the "Company") is a leading New York-based house of modern luxury accessories and lifestyle brands. Tapestry owns the Coach, Kate Spade and Stuart Weitzman brands. The Company’s primary product offerings, manufactured by third-party suppliers, include women’s and men’s bags, small leather goods, footwear, ready-to-wear including outerwear, watches, weekend and travel accessories, scarves, eyewear, fragrance, jewelry and other lifestyle products. The Coach segment includes global sales of Coach products to customers through Coach operated stores, including the Internet and concession shop-in-shops, and sales to wholesale customers and through independent third party distributors. The Kate Spade segment includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including the Internet, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors. The Stuart Weitzman segment includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, including the Internet, sales to wholesale customers and through numerous independent third party distributors.

Basis of Presentation and Organization	9 Months Ended
Basis of Presentation and Organization	Mar. 28, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Organization	BASIS OF PRESENTATION AND ORGANIZATION Interim Financial Statements These unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and are unaudited. In the opinion of management, such condensed consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position, results of operations, comprehensive income (loss) and cash flows of the Company for the interim periods presented. In addition, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP") have been condensed or omitted from this report as is permitted by the SEC's rules and regulations. However, the Company believes that the disclosures provided herein are adequate to prevent the information presented from being misleading. This report should be read in conjunction with the audited consolidated financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended June 29, 2019 ("fiscal 2019") and other filings filed with the SEC. The results of operations, cash flows and comprehensive income for the nine months March 28, 2020 are not necessarily indicative of results to be expected for the entire fiscal year, which will end on June 27, 2020 ("fiscal 2020"). During the fiscal year ended June 29, 2019, the Company acquired designated assets of its Stuart Weitzman distributor in Southern China and Australia and of its Kate Spade distributor in Australia, Malaysia and Singapore. The results of operations of each acquired entity have been included in the condensed consolidated financial statements since the respective date of each acquisition. Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to June 30. Fiscal 2020 will be a 52-week period. Fiscal 2019 ended on June 29, 2019 and was also a 52-week period. The third quarter of fiscal 2020 ended on March 28, 2020 and the third quarter of fiscal 2019 ended on March 30, 2019, both of which were 13-week periods. Covid-19 Pandemic The outbreak of a novel strain of coronavirus continues to grow worldwide, impacting a significant majority of the regions in which we operate. In March 2020, the outbreak was labeled a global pandemic by the World Health Organization. National, state and local governments have responded to the Covid-19 pandemic in a variety of ways, including, but not limited to, by declaring states of emergency, restricting people from gathering in groups or interacting within a certain physical distance (i.e., social distancing), requiring individuals to stay at home, and in most cases, ordering non-essential businesses to close or limit operations. The majority of the Company’s stores in mainland China were closed in the third quarter of fiscal 2020, but have essentially all re-opened by the end of the quarter. Also in March 2020, the Company closed all of its stores in North America and Europe, and many in the Asia Pacific region. Many of the Company’s wholesale partners have also closed their bricks and mortar stores and have substantially reduced their operations. The global Covid-19 pandemic is rapidly evolving and the extent to which this impacts the Company - including unforeseen increased costs to the Company's business - will depend on future developments, which are highly uncertain and cannot be predicted, including the ultimate duration, severity and geographic spread of the virus and the success of actions to contain the virus or treat its impact, among others. As the full magnitude of the effects on the Company's business is difficult to predict at this time, the Covid-19 pandemic has and is expected to continue to have a material adverse impact on the Company's business, financial condition, results of operations and cash flows for the foreseeable future. The Company believes that cash flows from operations, access to the credit and capital markets and our credit lines, on-hand cash and cash equivalents and our investments provide adequate funds to support our operating, capital, and debt service requirements for fiscal 2020 and beyond. There can be no assurance, however, that any such capital will be available to the Company on acceptable terms or at all. The Company could experience other potential adverse impacts as a result of the Covid-19 pandemic, including, but not limited to, further charges from adjustments to the carrying amount of goodwill and other intangible assets, long-lived asset impairment charges, reserves for uncollectible accounts receivable and reserves for the realizability of inventory. In addition, the negative impacts of the Covid-19 pandemic could result in the establishment of additional valuation allowances in certain jurisdictions. In response to the Covid-19 pandemic, the Company has taken actions to reinforce its liquidity and financial flexibility. In the third quarter of fiscal 2020 the Company announced that it has suspended its quarterly dividend and all share repurchases for the foreseeable future. In addition, and subsequent to March 28, 2020, the Company has taken other additional actions. These actions include, but are not limited to, actively reducing non-essential SG&A expense, reducing corporate compensation, terminating 2,100 part-time store associates, tightly managing inventory and reducing capital expenditures. Furthermore, on March 30, 2020, the Company borrowed $700 million under its $900 million definitive credit agreement, as entered on October 24, 2019 ("Revolving Credit Facility") as a precautionary measure. If the Company's stores remain closed for an extended period of time, its liquidity may continue to be negatively impacted and it may need to draw additional funds from our Revolving Credit Facility or seek additional sources of financing, which may or may not be available. If the Company does not repay some or all of the outstanding borrowings under the Revolving Credit Facility prior to the end of the fourth quarter of fiscal 2020, the Company may be unable to maintain compliance with the leverage ratio financial covenant required by the Revolving Credit Facility. The Company is actively seeking an amendment to the terms of the agreement from its lenders, however no assurances can be given that the amendment will be granted or on terms that are acceptable to the Company. Non-compliance with its covenants would constitute an event of default under the terms of the Revolving Credit Facility, which may result in an acceleration of payment to the lenders. In the event of an acceleration of payment to the lenders, this would result in a cross default of the Company’s notes payable (refer to Note 12, "Debt" for further information regarding the Company's outstanding notes payable), causing the Company’s outstanding borrowings to also become due and payable on demand. If the Company is not able to obtain such amendment, it expects, and has the ability to repay some or all of the $700 million borrowed against the Revolving Credit Facility, in order to prevent an event of default under the Revolving Credit Facility. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and footnotes thereto. Actual results could differ from estimates in amounts that may be material to the financial statements. Significant estimates inherent in the preparation of the condensed consolidated financial statements include useful lives and impairments of long-lived tangible and intangible assets; reserves for the realizability of inventory; customer returns, end-of-season markdowns and operational chargebacks; accounting for income taxes (including the impacts of tax legislation) and related uncertain tax positions; accounting for business combinations; the valuation of stock-based compensation awards and related expected forfeiture rates; reserves for restructuring; and reserves for litigation and other contingencies, amongst others. Share Repurchases The Company accounts for share repurchases by allocating the repurchase price to common stock and retained earnings. As a result, all repurchased shares are authorized but unissued shares. Under Maryland law, the Company's state of incorporation, there are no treasury shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. Purchases of the Company's common stock are executed through open market purchases, including through a purchase agreement under Rule 10b5-1. The Company may terminate or limit the share repurchase program at any time. Principles of Consolidation These unaudited interim condensed consolidated financial statements include the accounts of the Company and all 100% owned and controlled subsidiaries. All intercompany transactions and balances are eliminated in consolidation. Reclassifications Certain reclassifications have been made to the prior periods' financial information in order to conform to the current period's presentation. Beginning in fiscal 2020, the Company presented the impact of foreign currency gains and losses within Other expense (income) within its Condensed Consolidated Statements of Operations. Accordingly, foreign currency gains and losses that were reported within Selling, general and administrative expenses ("SG&A") in fiscal 2019 are now reflected within Other expense (income).

Recent Accounting Pronouncements

9 Months Ended

Mar. 28, 2020

Accounting Policies [Abstract]

Recent Accounting Pronouncements

RECENT ACCOUNTING PROUNOUNCEMENTS

Recently Adopted Accounting Pronouncements

During the first quarter of fiscal 2020, the Company adopted Accounting Standards Update ("ASU") No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02") and related ASUs. This ASU requires recognition of lease assets and lease liabilities on the balance sheet for all leases other than short-term leases. The Company elected the package of practical expedients intended to ease transition whereby the Company need not reassess as of the adoption date (1) whether contracts are or contain leases, (2) the lease classification for any existing leases and (3) initial direct costs for any existing leases. The Company also elected the practical expedient to

combine non-lease components and lease components for real estate leases. The Company applied the provisions of ASU No. 2018-11, "Leases (Topic 842): Targeted Improvements" ("ASU 2018-11"), allowing it to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without restating the comparative prior year periods.

The effects of the adoption on selected line items within the Company's Condensed Consolidated Balance Sheet as of June 30, 2019 were as follows:



	June 29, 2019					June 30, 2019
	As Reported under ASC 840		ASC 842 Adjustments			As Reported under ASC 842
	(millions)
Current Assets:
Prepaid expenses⁽¹⁾	$	99.8	$	(37.8	)	$	62.0
Other current assets⁽¹⁾	91.0		(2.3		)	88.7
Long-term Assets:
Operating lease right-of-use assets⁽¹⁾	—		2,133.7			2,133.7
Intangible assets⁽¹⁾	1,711.9		(58.5		)	1,653.4
Deferred income tax assets⁽³⁾	19.4		1.7			21.1
Other assets⁽¹⁾	134.2		(27.4		)	106.8
Current Liabilities:
Accrued liabilities⁽¹⁾⁽³⁾	673.6		(39.2		)	634.4
Operating lease liabilities⁽²⁾	—		362.3			362.3
Current debt	0.8		(0.8		)	—
Long-term Liabilities:
Long-term debt	1,601.9		(5.3		)	1,596.6
Operating lease liabilities⁽²⁾	—		1,961.6			1,961.6
Deferred income tax liabilities⁽³⁾	234.1		(13.1		)	221.0
Other liabilities⁽¹⁾⁽³⁾	454.0		(207.2		)	246.8
Stockholder's Equity:
Retained earnings (accumulated deficit)⁽³⁾	291.6		(48.9		)	242.7

⁽¹⁾

Upon adoption, the Company recognized operating lease right-of-use ("ROU") assets on the Condensed Consolidated Balance Sheet. In conjunction with this recognition, the Company reclassified amounts to lease right-of-use assets including: prepaid rent from prepaid expenses; key money and lease right intangibles from current and long-term other assets; deferred rent, lease incentives, unfavorable lease right liability and other accrued rent from current and long-term other liabilities. In addition, upon adoption in the first quarter of fiscal 2020, the Company recognized initial ROU asset balances of $2.13 billion on its Condensed Consolidated Balance Sheet.


⁽²⁾	Upon adoption, the Company recognized lease liabilities of $2.32 billion on the Condensed Consolidated Balance Sheet, which were recorded with Current and Long-term lease liabilities.

⁽³⁾

Upon adoption, the Company recognized a cumulative adjustment of $63.7 million, net of tax, decreasing the opening balance of Retained earnings, related to right-of-use asset impairment charges for certain of the Company’s stores where it was previously determined that the carrying value of assets was not recoverable. This adjustment was partially offset by ($14.8) million, net of tax, of increases to retained earnings to recognize deferred gains resulting from real estate transactions.

Recently Issued Accounting Pronouncements Not Yet Adopted

In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement (Topic 820)" ("ASU 2018-13"), which is intended to improve the effectiveness of fair value disclosures. The ASU removes or modifies certain disclosure requirements related to fair value information, as well as adds new disclosure requirements for Level 3 fair value measurements. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2019, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2021. Early adoption is permitted. The Company is currently in the process of evaluating the impact that adopting ASU 2018-13 will have on its condensed consolidated financial

statements and notes thereto, however, does not expect a material impact resulting from this guidance.

In August 2018, the FASB issued ASU No. 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)" ("ASU 2018-15"), which is intended to clarify the accounting for implementation costs of cloud computing arrangements which are deemed to be a service contract rather than a software license. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2019, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2021. Early adoption is permitted. The Company is currently in the process of evaluating the impact that adopting ASU 2018-15 will have on its condensed consolidated financial statements and notes thereto.

In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), which requires companies to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The FASB has subsequently issued updates to the standard to provide additional clarification on specific topics. The requirement of the new standard will be effective for annual reporting periods beginning after December 15, 2019, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2021. Early adoption is permitted. The Company is currently in the process of evaluating the impact that adopting ASU 2016-13 will have on its condensed consolidated financial statements and notes thereto.

Revenue

9 Months Ended

Mar. 28, 2020

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

The Company recognizes revenue primarily from sales of the products of its brands through retail and wholesale channels, including the Internet. The Company also generates revenue from royalties related to licensing its trademarks, as well as sales in ancillary channels. In all cases, revenue is recognized upon the transfer of control of the promised products or services to the customer, which may be at a point in time or over time. Control is transferred when the customer obtains the ability to direct the use of and obtain substantially all of the remaining benefits from the products or services. The amount of revenue recognized is the amount of consideration to which the Company expects to be entitled, including estimation of sale terms that may create variability in the consideration. Revenue subject to variability is constrained to an amount which will not result in a significant reversal in future periods when the contingency that creates variability is resolved.

The Company recognizes revenue in its retail stores, including concession shop-in-shops, at the point-of-sale when the customer obtains physical possession of the products. Internet revenue from sales of products ordered through the Company's e-commerce sites is recognized upon delivery and receipt of the shipment by its customers and includes shipping and handling charges paid by customers. Retail and Internet revenues are recorded net of estimated returns, which are estimated by developing an expected value based on historical experience. Payment is due at the point of sale.

Gift cards issued by the Company are recorded as a liability until redeemed by the customer, at which point revenue is recognized. The Company also uses historical information to estimate the amount of gift card balances that will never be redeemed

and recognizes that amount as revenue over time in proportion to actual customer redemptions if the Company does not have a legal obligation to remit unredeemed gift cards to any jurisdiction as unclaimed property.

The Company recognizes revenue within the wholesale channel at the time title passes and risk of loss is transferred to customers, which is generally at the point of shipment of products but may occur upon receipt of the shipment by the customer in certain cases. Payment is generally due 30 to 90 days after shipment. Wholesale revenue is recorded net of estimates for returns, discounts, end-of-season markdowns, cooperative advertising allowances and other consideration provided to the customer. Discounts are based on contract terms with the customer, while cooperative advertising allowances and other consideration may be based on contract terms or negotiated on a case-by-case basis. Returns and markdowns generally require approval from the Company and are estimated based on historical trends, current season results and inventory positions at the wholesale locations, current market and economic conditions as well as, in select cases, contractual terms. The Company's historical estimates of these variable amounts have not differed materially from actual results.

The Company recognizes licensing revenue over time during the contract period in which licensees are granted access to the Company's trademarks. These arrangements require licensees to pay a sales-based royalty and may include a contractually guaranteed minimum royalty amount. Revenue for contractually guaranteed minimum royalty amounts is recognized ratably over the license year and any excess sales-based royalties are recognized as earned once the minimum royalty threshold is achieved. Payments from the customer are generally due quarterly in an amount based on the licensee's sales of goods bearing the licensed trademarks during the period, which may differ from the amount of revenue recorded during the period thereby generating a contract asset or liability. Contract assets and liabilities and contract costs related to the licensing arrangements are immaterial as the licensing business represents approximately 1% of total net sales in the nine months ended March 28, 2020.

The Company has elected a practical expedient not to disclose the remaining performance obligations that are unsatisfied as of the end of the period related to contracts with an original duration of one year or less or variable consideration related to sales-based royalty arrangements. There are no other contracts with transaction price allocated to remaining performance obligations other than future minimum royalties as discussed above, which are not material.

Other practical expedients elected by the Company include (i) assuming no significant financing component exists for any contract with a duration of one year or less, (ii) accounting for shipping and handling as a fulfillment activity within SG&A expense regardless of the timing of the shipment in relation to the transfer of control and (iii) excluding sales and value added tax from the transaction price.

Disaggregated Net Sales

The following table disaggregates the Company's net sales into geographies that depict how economic factors may impact the revenues and cash flows for the periods presented. Each geography presented includes net sales related to the Company's directly operated channels, global travel retail business and to wholesale customers, including distributors, in locations within the specified geographic area.



	North America		Greater China⁽¹⁾		Other Asia⁽²⁾		Other⁽³⁾		Total
	(millions)
Three Months Ended March 28, 2020
Coach	$	427.6	$	103.7	$	193.8	$	47.4	$	772.5
Kate Spade	181.4		8.9		41.1		18.1		249.5
Stuart Weitzman	28.7		10.6		4.5		6.9		50.7
Total	$	637.7	$	123.2	$	239.4	$	72.4	$	1,072.7

Three Months Ended March 30, 2019
Coach	$	484.0	$	213.7	$	212.8	$	54.5	$	965.0
Kate Spade	205.1		13.6		43.8		18.6		281.1
Stuart Weitzman	45.8		18.0		6.3		15.2		85.3
Total	$	734.9	$	245.3	$	262.9	$	88.3	$	1,331.4

Nine Months Ended March 28, 2020
Coach	$	1,751.3	$	451.0	$	622.0	$	184.0	$	3,008.3
Kate Spade	761.8		34.8		125.2		63.6		985.4
Stuart Weitzman	137.7		62.7		16.4		36.1		252.9
Total	$	2,650.8	$	548.5	$	763.6	$	283.7	$	4,246.6

Nine Months Ended March 30, 2019
Coach	$	1,788.1	$	577.2	$	627.9	$	181.1	$	3,174.3
Kate Spade	812.3		37.4		118.9		66.3		1,034.9
Stuart Weitzman	170.4		57.1		18.5		58.2		304.2
Total	$	2,770.8	$	671.7	$	765.3	$	305.6	$	4,513.4


⁽¹⁾	Greater China includes mainland China, Hong Kong SAR, Macao SAR and Taiwan.


⁽²⁾	Other Asia includes Japan, Australia, New Zealand, South Korea, Thailand and other countries within Asia.


⁽³⁾	Other sales primarily represents sales in Europe, the Middle East and royalties related to licensing.

Deferred Revenue

Deferred revenue results from cash payments received or receivable from customers prior to the transfer of the promised goods or services, and is primarily related to unredeemed gift cards, net of breakage which has been recognized. Additional deferred revenue may result from sales-based royalty payments received or receivable which exceed the revenue recognized during the contractual period. The balance of such amounts as of March 28, 2020 and June 29, 2019 was $31.6 million and $27.5 million, respectively, which were primarily recorded within Accrued liabilities on the Company's Condensed Consolidated Balance Sheets and are generally expected to be recognized as revenue within a year. For the nine months ended March 28, 2020, net sales of $11.3 million were recognized from amounts recorded as deferred revenue as of June 29, 2019. For the nine months ended March 30, 2019, net sales of $16.6 million were recognized from amounts recorded as deferred revenue as of June 30, 2018.

Integration

9 Months Ended

Mar. 28, 2020

Business Combinations [Abstract]

Integration

INTEGRATION

During the three and nine months ended March 28, 2020, the Company incurred integration costs of $3.4 million and $11.6 million. The charges recorded in Cost of sales for the nine months ended March 28, 2020 were $5.6 million. There were no charges recorded for the three months ended March 28, 2020. Of the amount recorded to Cost of sales for the nine months ended March 28, 2020, $4.3 million was recorded in the Stuart Weitzman segment, $1.2 million was recorded in the Kate Spade segment and $0.1 million was recorded in the Coach segment, respectively. The charges recorded to SG&A expenses for the three and nine months ended March 28, 2020 were $3.4 million and $6.0 million, respectively. Of the amount recorded to SG&A expenses, $2.9 million and $6.9 million was recorded within Corporate, $0.2 million and a reduction of expense of $1.9 million was recorded in the Stuart Weitzman segment, $0.3 million and $1.1 million was recorded in the Kate Spade segment and $0.0 million and a reduction of expense of $0.1 million was recorded in the Coach segment, respectively. Of the total costs of $3.4 million, a reduction of expense of $0.1 million were non-cash charges. Of the total costs of $11.6 million, $3.8 million were non-cash charges related to inventory charges, organization-related costs and purchase accounting adjustments.

The Company estimates that it will incur approximately $5 million in pre-tax charges, of which the majority are expected to be cash charges, for the remainder of fiscal 2020.

During the three and nine months ended March 30, 2019, the Company incurred integration costs of $20.6 million and $55.3 million, respectively. The charges recorded in Cost of sales for the three and nine months ended March 30, 2019 were $5.0 million and $9.1 million, respectively. Of the amount recorded to Cost of sales, $4.3 million and $5.4 million was recorded in the Kate Spade segment, $0.0 million and $2.0 million was recorded in the Coach segment and $0.7 million and $1.7 million was recorded in the Stuart Weitzman segment, respectively. The charges recorded in SG&A expenses for the three and nine months ended March 30, 2019 were $15.6 million and $46.2 million, respectively. Of the amount recorded to SG&A expenses, $7.0 million and $18.4 million was recorded within Corporate, $0.1 million and $12.2 million was recorded in the Stuart Weitzman segment and $3.0 million and $10.1 million was recorded in the Kate Spade segment, respectively. The charges recorded to SG&A expenses in the Coach segment were $5.5 million for the three and nine months ended March 30, 2019. Of the total costs of $20.6 million, $6.7 million were non-cash charges related to purchase accounting adjustments and asset write-offs. Of the total costs of $55.3 million, $13.0 million were non-cash charges related to purchase accounting adjustments and organization-related costs.

Refer to Note 6, "Acquisitions," for more information.

A summary of the integration charges is as follows:



	Three Months Ended					Nine Months Ended
	March 28, 2020		March 30, 2019			March 28, 2020		March 30, 2019
	(millions)
Purchase accounting adjustments⁽¹⁾	$	—	$	3.9		$	0.8	$	9.3
Acquisition costs⁽²⁾	—		0.3			—		1.0
Inventory-related charges⁽³⁾	—		1.0			4.9		(0.4		)
Contractual payments⁽⁴⁾	—		(0.6		)	—		6.6
Other⁽⁵⁾	3.4		16.0			5.9		38.8
Total	$	3.4	$	20.6		$	11.6	$	55.3


⁽¹⁾	Purchase accounting adjustments primarily relate to the short-term impact of the amortization of fair value adjustments.


⁽²⁾	Acquisition costs were primarily related to deal fees associated with acquisitions.


⁽³⁾	Inventory-related charges primarily relate to inventory reserves.


⁽⁴⁾	Contractual payments primarily relate to contract termination charges for the three and nine months ended March 30, 2019.

⁽⁵⁾

Other primarily relates to share-based compensation, severance charges, professional fees and asset write-offs.

Acquisitions	9 Months Ended
Acquisitions	Mar. 28, 2020
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS Fiscal 2019 Acquisitions Distributor Acquisitions During the fiscal year ended June 29, 2019, the Company acquired designated assets of its Stuart Weitzman distributor in Southern China and Australia and of its Kate Spade distributor in Australia, Malaysia and Singapore. The aggregate purchase consideration for the acquisitions was $47.8 million, $44.0 million of which was cash consideration and the remaining is related to non-cash consideration. Of the $44.0 million of cash consideration, $43.5 million was paid during fiscal 2019 and the remaining will be paid in the future. Of the total purchase consideration of $47.8 million, $21.8 million of net assets were recorded at their fair values. The excess of the purchase consideration over the fair value of the net assets acquired was recorded as non-tax deductible goodwill in the amount of $26.0 million, of which $13.3 million was assigned to the Stuart Weitzman segment and $12.7 million was assigned to the Kate Spade segment. Refer to Note 7, "Goodwill and Other Intangible Assets" for further information. The purchase price allocation for these assets acquired and liabilities assumed is completed, however may be subject to change as additional information is obtained during the acquisition measurement period for the respective acquisitions. The pro forma results are not presented for these acquisitions as they are immaterial.

Goodwill and Other Intangible Assets

9 Months Ended

Mar. 28, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

Interim Impairment Assessment

The Company performs its annual impairment assessment of goodwill as well as brand intangibles at the beginning of the fourth quarter of each fiscal year or if an event occurs that would more likely than not reduce the fair value below its carrying amount.

During the three months ended March 28, 2020, profitability trends continued to decline from those that were expected for the Stuart Weitzman brand. This reduction in both current and future expected cash flows was exacerbated by the Covid-19 pandemic, which resulted in a decline in sales driven by full and partial closures of a significant portion of our stores globally. As a result of these macroeconomic conditions, the Company concluded that a triggering event had occurred during the third quarter, resulting in the need to perform a quantitative interim impairment assessment over the Company’s Stuart Weitzman reporting unit and indefinite-lived brand intangible assets. The assessment concluded that the fair values of the Stuart Weitzman reporting unit and indefinite-lived brand intangible asset as of March 28, 2020 did not exceed their respective carrying values.

Accordingly, the Company recorded a goodwill impairment charge of $210.7 million related to the Stuart Weitzman reporting unit, resulting in a full impairment. The Company also recorded an impairment charge of $267.0 million related to the Stuart Weitzman indefinite-lived brand, resulting in a full impairment. The goodwill and brand intangible impairment charges were recorded within total SG&A expenses on the Company's Condensed Consolidated Statement of Operations for the three and nine months ended March 28, 2020.

The estimated fair value of the Stuart Weitzman reporting unit was based on a weighted average of the income and market approaches. The income approach is based on estimated discounted future cash flows, while the market approach is based on earnings multiples of selected guideline companies. The approach, which qualifies as level 3 in the fair value hierarchy, incorporated a number of significant assumptions and judgments, including, but not limited to, estimated future cash flows, discount rates, income tax rates, terminal growth rates and valuation multiples derived from comparable publicly traded companies. In considering the excess of the fair value over its carrying value for the Coach and Kate Spade reporting units and indefinite-lived brand intangibles, management did not perform an interim assessment for these reporting units.

Goodwill

The change in the carrying amount of the Company’s goodwill by segment is as follows:



	Coach			Kate Spade			Stuart Weitzman			Total
	(millions)
Balance at June 29, 2019	$	661.8		$	640.4		$	214.0		$	1,516.2
Impairment charges	—			—			(210.7		)	(210.7		)
Foreign exchange impact	(1.9		)	(1.8		)	(3.3		)	(7.0		)
Balance at March 28, 2020	$	659.9		$	638.6		$	—		$	1,298.5

Intangible Assets

Intangible assets consist of the following:



	March 28, 2020							June 29, 2019
	Gross Carrying Amount		Accum. Amort.			Net		Gross Carrying Amount		Accum. Amort.			Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	100.5	$	(29.2	)	$	71.3	$	100.6	$	(24.0	)	$	76.6
Favorable lease rights⁽¹⁾	—		—			—		93.1		(34.6		)	58.5
Total intangible assets subject to amortization	100.5		(29.2		)	71.3		193.7		(58.6		)	135.1
Intangible assets not subject to amortization:
Trademarks and trade names⁽²⁾	1,309.8		—			1,309.8		1,576.8		—			1,576.8
Total intangible assets	$	1,410.3	$	(29.2	)	$	1,381.1	$	1,770.5	$	(58.6	)	$	1,711.9


⁽¹⁾	Refer to Note 3, "Recent Accounting Pronouncements," for further information.


⁽²⁾	During the three and nine months ended March 28, 2020, the Company recognized a $267.0 million non-cash charge related to the impairment of the Stuart Weitzman indefinite-lived brand.

As of March 28, 2020, the expected amortization expense for intangible assets is as follows:



	Amortization Expense
	(millions)
Remainder of fiscal 2020	$	1.1
Fiscal 2021	6.5
Fiscal 2022	6.5
Fiscal 2023	6.5
Fiscal 2024	6.5
Fiscal 2025	6.5
Fiscal 2026 and thereafter	37.7
Total	$	71.3

The expected amortization expense above reflects remaining useful lives ranging from approximately 10.1 to 12.3 years for customer relationships.

Stockholders' Equity

9 Months Ended

Mar. 28, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

A reconciliation of stockholders' equity is presented below:



	Shares of Common Stock	Common Stock		Additional Paid-in- Capital			Retained Earnings / (Accumulated Deficit)			Accumulated Other Comprehensive Income (Loss)			Total Stockholders' Equity
	(millions, except per share data)
Balance at June 30, 2018	288.0	$	2.9	$	3,205.5		$	119.0		$	(82.8	)	$	3,244.6
Net income (loss)	—	—		—			122.3			—			122.3
Other comprehensive income (loss)	—	—		—			—			(5.3		)	(5.3		)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	1.8	—		3.2			—			—			3.2
Share-based compensation	—	—		22.4			—			—			22.4
Dividends declared ($0.3375 per share)	—	—		—			(97.8)			—			(97.8)
Cumulative adjustment from adoption of new accounting standard (see Note 3)	—	—		—			20.2			—			20.2
Balance at September 29, 2018	289.8	$	2.9	$	3,231.1		$	163.7		$	(88.1	)	$	3,309.6
Net income (loss)	—	—		—			254.8			—			254.8
Other comprehensive income (loss)	—	—		—			—			(3.4		)	(3.4		)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	0.2	—		3.7			—			—			3.7
Share-based compensation	—	—		21.5			—			—			21.5
Dividends declared ($0.3375 per share)	—	—		—			(97.8		)	—			(97.8		)
Balance at December 29, 2018	290.0	$	2.9	$	3,256.3		$	320.7		$	(91.5	)	$	3,488.4
Net income (loss)	—	—		—			117.4			—			117.4
Other comprehensive income	—	—		—			—			1.0			1.0
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	0.1	—		(1.2		)	—			—			(1.2		)
Share-based compensation	—	—		23.5			—			—			23.5
Dividends declared ($0.3375 per share)	—	—		—			(97.9		)	—			(97.9		)



Balance at March 30, 2019	290.1		$	2.9		$	3,278.6		$	340.2		$	(90.5	)	$	3,531.2


	Shares of Common Stock		Common Stock			Additional Paid-in- Capital			Retained Earnings / (Accumulated Deficit)			Accumulated Other Comprehensive Income (Loss)			Total Stockholders' Equity
	(millions, except per share data)
Balance at June 29, 2019	286.8		$	2.9		$	3,302.1		$	291.6		$	(83.2	)	$	3,513.4
Net income (loss)	—		—			—			20.0			—			20.0
Other comprehensive income (loss)	—		—			—			—			(12.8		)	(12.8		)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	1.0		—			(14.5		)	—			—			(14.5		)
Share-based compensation	—		—			26.8			—			—			26.8
Repurchase of common stock	(11.9	)	(0.1		)	—			(299.9		)	—			(300.0		)
Dividends declared ($0.3375 per share)	—		—			—			(97.1		)	—			(97.1		)
Cumulative adjustment from adoption of new accounting standard	—		—			—			(48.9		)	—			(48.9		)
Balance at September 28, 2019	275.9		$	2.8		$	3,314.4		$	(134.3	)	$	(96.0	)	$	3,086.9
Net income (loss)	—		—			—			298.8			—			298.8
Other comprehensive income (loss)	—		—			—			—			11.0			11.0
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	0.1		—			2.1			—			—			2.1
Share-based compensation	—		—			16.8			—			—			16.8
Dividends declared ($0.3375 per share)	—		—			—			(93.2		)	—			(93.2		)
Balance at December 28, 2019	276.0		$	2.8		$	3,333.3		$	71.3		$	(85.0	)	$	3,322.4
Net income (loss)	—		—			—			(677.1		)	—			(677.1		)
Other comprehensive income (loss)	—		—			—			—			(11.7		)	(11.7		)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	0.1		—			(0.5		)	—			—			(0.5		)
Share-based compensation	—		—			13.2			—			—			13.2
Dividends declared ($0.3375 per share)	—		—			—			(93.2		)	—			(93.2		)
Balance at March 28, 2020	276.1		$	2.8		$	3,346.0		$	(699.0	)	$	(96.7	)	$	2,553.1

The components of accumulated other comprehensive income (loss) ("AOCI"), as of the dates indicated, are as follows:



	Unrealized Gains (Losses) on Cash Flow Hedging Derivatives⁽¹⁾			Unrealized Gains (Losses) on Available- for-Sale Investments			Cumulative Translation Adjustment			Other⁽²⁾			Total
	(millions)
Balances at June 30, 2018	$	1.4		$	—		$	(85.3	)	$	1.1		$	(82.8	)
Other comprehensive income (loss) before reclassifications	(0.4		)	0.2			(5.2		)	—			(5.4		)
Less: amounts reclassified from accumulated other comprehensive income to earnings	2.3			—			—			—			2.3
Net current-period other comprehensive income (loss)	(2.7		)	0.2			(5.2		)	—			(7.7		)
Balances at March 30, 2019	$	(1.3	)	$	0.2		$	(90.5	)	$	1.1		$	(90.5	)

Balances at June 29, 2019	$	(4.5	)	$	(0.5	)	$	(79.9	)	$	1.7		$	(83.2	)
Other comprehensive income (loss) before reclassifications	(1.7		)	—			(18.3		)	—			(20.0		)
Less: amounts reclassified from accumulated other comprehensive income to earnings	(8.2		)	—			—			1.7			(6.5		)
Net current-period other comprehensive income (loss)	6.5			—			(18.3		)	(1.7		)	(13.5		)
Balances at March 28, 2020	$	2.0		$	(0.5	)	$	(98.2	)	$	—		$	(96.7	)


⁽¹⁾	The ending balances of AOCI related to cash flow hedges are net of tax of ($0.4) million and $0.0 million as of March 28, 2020 and March 30, 2019, respectively. The amounts reclassified from AOCI are net of tax of $4.1 million and ($1.5) million as of March 28, 2020 and March 30, 2019, respectively.

⁽²⁾

Other represents the accumulated loss on the Company's minimum pension liability adjustment. The balance at March 30, 2019 is net of tax of $(0.6) million. There was no remaining balance at March 28, 2020.

Leases

9 Months Ended

Mar. 28, 2020

Leases [Abstract]

Leases

LEASES

The Company leases retail space, office space, warehouse facilities, distribution centers, storage space, machinery, equipment and certain other items under operating leases. The Company's leases have initial terms ranging from 1 to 20 years and may have renewal or early termination options ranging from 1 to 10 years. These leases may also include rent escalation clauses or lease incentives in the form of construction allowances and rent reduction. In determining the lease term used in the lease ROU asset and lease liability calculations, the Company considers various factors such as market conditions and the terms of any renewal or termination options that may exist. When deemed reasonably certain, the renewal and termination options are included in the determination of the lease term and calculation of the lease ROU asset and lease liability. The Company is typically required to make fixed minimum rent payments, variable rent payments primarily based on performance (i.e., percentage-of-sales-based payments), or a combination thereof, directly related to its ROU asset. The Company is also often required, by the lease, to pay for certain other costs including real estate taxes, insurance, common area maintenance fees, and/or certain other costs, which may be fixed or variable, depending upon the terms of the respective lease agreement. To the extent these payments are fixed, the Company has included them in calculating the lease ROU assets and lease liabilities.

The Company calculates lease ROU assets and lease liabilities as the present value of fixed lease payments over the reasonably certain lease term beginning at the commencement date. ASU 2016-02 requires the use of the implicit rate to determine the present value of lease payments. As the rate implicit in the Company's leases is not readily determinable, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the lease term, currency, country, Company specific risk premium and adjustments for collateral.

For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases and impaired operating leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less ("short-term lease"), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the Condensed Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred.

The Company acts as sublessor in certain leasing arrangements, primarily related to a sublease of a portion the Company's leased headquarters space as well as certain retail locations. Fixed sublease payments received are recognized on a straight-line basis over the sublease term.

ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment.

The following table summarizes the ROU assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020		Location Recorded on Balance Sheet
	(millions)
Assets:
Operating leases	$	1,970.9	Operating lease right-of-use assets
Finance leases	3.4		Property and equipment, net
Total lease assets	$	1,974.3
Liabilities:
Operating leases:
Current lease liabilities	$	353.4	Current lease liabilities
Long-term lease liabilities	1,897.3		Long-term lease liabilities
Total operating lease liabilities	$	2,250.7
Finance leases:
Current lease liabilities	$	0.8	Accrued liabilities
Long-term lease liabilities	4.7		Other liabilities
Total finance lease liabilities	$	5.5

Total lease liabilities	$	2,256.2

The following table summarizes the composition of net lease costs, primarily recorded within SG&A expenses on the Company's Condensed Consolidated Statement of Operations for the three and nine months ended March 28, 2020:



	Three Months Ended			Nine Months Ended
	March 28, 2020
	(millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.2		$	0.6
Interest on lease liabilities⁽¹⁾	0.2			0.5
Total finance lease cost	0.4			1.1
Operating lease cost	107.3			324.6
Short-term lease cost	3.5			7.1
Variable lease cost⁽²⁾	39.6			151.7
Operating lease right-of-use impairment	27.9			63.7
Less: sublease income	(4.5		)	(15.2		)
Total net lease cost	$	174.2		$	533.0


⁽¹⁾	Interest on lease liabilities is recorded within Interest expense, net on the Company's Condensed Consolidated Statement of Operations.

⁽²⁾ Rent concessions negotiated related to Covid-19 are recorded in variable lease expense and have an immaterial impact as of March 28, 2020.

The following table summarizes certain cash flow information related to the Company's leases for the nine months ended March 28, 2020:



	Nine Months Ended
	March 28, 2020
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	322.8
Operating cash flows from finance leases	0.5
Financing cash flows from finance leases	0.6
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	184.7
Right-of-use assets obtained in exchange for finance lease liabilities	—

The following table provides a maturity analysis of the Company's lease liabilities recorded on the Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020
	Operating Leases			Finance Leases			Total
	(millions)
Remainder of Fiscal 2020	$	106.4		$	0.4		$	106.8
Fiscal 2021	413.7			1.4			415.1
Fiscal 2022	371.9			1.4			373.3
Fiscal 2023	326.6			1.4			328.0
Fiscal 2024	276.5			1.4			277.9
Fiscal 2025 and thereafter	1,199.5			1.3			1,200.8
Total lease payments	2,694.6			7.3			2,701.9
Less: imputed interest	(443.9		)	(1.8		)	(445.7		)
Total lease liabilities	$	2,250.7		$	5.5		$	2,256.2

The future minimum fixed sublease receipts under non-cancelable operating lease agreements as of March 28, 2020 are as follows:



	March 28, 2020
	(millions)
Remainder of Fiscal 2020	$	5.2
Fiscal 2021	21.0
Fiscal 2022	19.9
Fiscal 2023	15.9
Fiscal 2024	15.5
Fiscal 2025 and thereafter	187.5
Total sublease income	$	265.0

The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's operating leases and finance leases recorded on the Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020
Weighted average remaining lease term (years):
Operating leases	8.72
Finance leases	5.18
Weighted average discount rate:
Operating leases	3.7	%
Finance leases	11.3	%

Additionally, the Company had approximately $3.3 million of future payment obligations related to executed lease agreements for which the related lease has not yet commenced as of March 28, 2020.

As reported under the previous accounting standard, the following table provides a summary of future minimum rental payments under non-cancelable operating leases, as of June 29, 2019:



	June 29, 2019
	(millions)
2020	$	399.0
2021	341.5
2022	308.2
2023	270.4
2024	226.5
Subsequent to 2024	1,065.7
Total minimum future rental payments	$	2,611.3

Leases

LEASES

ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment.

The following table summarizes the ROU assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020		Location Recorded on Balance Sheet
	(millions)
Assets:
Operating leases	$	1,970.9	Operating lease right-of-use assets
Finance leases	3.4		Property and equipment, net
Total lease assets	$	1,974.3
Liabilities:
Operating leases:
Current lease liabilities	$	353.4	Current lease liabilities
Long-term lease liabilities	1,897.3		Long-term lease liabilities
Total operating lease liabilities	$	2,250.7
Finance leases:
Current lease liabilities	$	0.8	Accrued liabilities
Long-term lease liabilities	4.7		Other liabilities
Total finance lease liabilities	$	5.5

Total lease liabilities	$	2,256.2



	Three Months Ended			Nine Months Ended
	March 28, 2020
	(millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.2		$	0.6
Interest on lease liabilities⁽¹⁾	0.2			0.5
Total finance lease cost	0.4			1.1
Operating lease cost	107.3			324.6
Short-term lease cost	3.5			7.1
Variable lease cost⁽²⁾	39.6			151.7
Operating lease right-of-use impairment	27.9			63.7
Less: sublease income	(4.5		)	(15.2		)
Total net lease cost	$	174.2		$	533.0


⁽¹⁾	Interest on lease liabilities is recorded within Interest expense, net on the Company's Condensed Consolidated Statement of Operations.

⁽²⁾ Rent concessions negotiated related to Covid-19 are recorded in variable lease expense and have an immaterial impact as of March 28, 2020.

The following table summarizes certain cash flow information related to the Company's leases for the nine months ended March 28, 2020:



	Nine Months Ended
	March 28, 2020
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	322.8
Operating cash flows from finance leases	0.5
Financing cash flows from finance leases	0.6
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	184.7
Right-of-use assets obtained in exchange for finance lease liabilities	—

The following table provides a maturity analysis of the Company's lease liabilities recorded on the Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020
	Operating Leases			Finance Leases			Total
	(millions)
Remainder of Fiscal 2020	$	106.4		$	0.4		$	106.8
Fiscal 2021	413.7			1.4			415.1
Fiscal 2022	371.9			1.4			373.3
Fiscal 2023	326.6			1.4			328.0
Fiscal 2024	276.5			1.4			277.9
Fiscal 2025 and thereafter	1,199.5			1.3			1,200.8
Total lease payments	2,694.6			7.3			2,701.9
Less: imputed interest	(443.9		)	(1.8		)	(445.7		)
Total lease liabilities	$	2,250.7		$	5.5		$	2,256.2

The future minimum fixed sublease receipts under non-cancelable operating lease agreements as of March 28, 2020 are as follows:



	March 28, 2020
	(millions)
Remainder of Fiscal 2020	$	5.2
Fiscal 2021	21.0
Fiscal 2022	19.9
Fiscal 2023	15.9
Fiscal 2024	15.5
Fiscal 2025 and thereafter	187.5
Total sublease income	$	265.0



	March 28, 2020
Weighted average remaining lease term (years):
Operating leases	8.72
Finance leases	5.18
Weighted average discount rate:
Operating leases	3.7	%
Finance leases	11.3	%

Additionally, the Company had approximately $3.3 million of future payment obligations related to executed lease agreements for which the related lease has not yet commenced as of March 28, 2020.

As reported under the previous accounting standard, the following table provides a summary of future minimum rental payments under non-cancelable operating leases, as of June 29, 2019:



	June 29, 2019
	(millions)
2020	$	399.0
2021	341.5
2022	308.2
2023	270.4
2024	226.5
Subsequent to 2024	1,065.7
Total minimum future rental payments	$	2,611.3

Leases

LEASES

ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment.

The following table summarizes the ROU assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020		Location Recorded on Balance Sheet
	(millions)
Assets:
Operating leases	$	1,970.9	Operating lease right-of-use assets
Finance leases	3.4		Property and equipment, net
Total lease assets	$	1,974.3
Liabilities:
Operating leases:
Current lease liabilities	$	353.4	Current lease liabilities
Long-term lease liabilities	1,897.3		Long-term lease liabilities
Total operating lease liabilities	$	2,250.7
Finance leases:
Current lease liabilities	$	0.8	Accrued liabilities
Long-term lease liabilities	4.7		Other liabilities
Total finance lease liabilities	$	5.5

Total lease liabilities	$	2,256.2



	Three Months Ended			Nine Months Ended
	March 28, 2020
	(millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.2		$	0.6
Interest on lease liabilities⁽¹⁾	0.2			0.5
Total finance lease cost	0.4			1.1
Operating lease cost	107.3			324.6
Short-term lease cost	3.5			7.1
Variable lease cost⁽²⁾	39.6			151.7
Operating lease right-of-use impairment	27.9			63.7
Less: sublease income	(4.5		)	(15.2		)
Total net lease cost	$	174.2		$	533.0


⁽¹⁾	Interest on lease liabilities is recorded within Interest expense, net on the Company's Condensed Consolidated Statement of Operations.

⁽²⁾ Rent concessions negotiated related to Covid-19 are recorded in variable lease expense and have an immaterial impact as of March 28, 2020.

The following table summarizes certain cash flow information related to the Company's leases for the nine months ended March 28, 2020:



	Nine Months Ended
	March 28, 2020
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	322.8
Operating cash flows from finance leases	0.5
Financing cash flows from finance leases	0.6
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	184.7
Right-of-use assets obtained in exchange for finance lease liabilities	—

The following table provides a maturity analysis of the Company's lease liabilities recorded on the Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020
	Operating Leases			Finance Leases			Total
	(millions)
Remainder of Fiscal 2020	$	106.4		$	0.4		$	106.8
Fiscal 2021	413.7			1.4			415.1
Fiscal 2022	371.9			1.4			373.3
Fiscal 2023	326.6			1.4			328.0
Fiscal 2024	276.5			1.4			277.9
Fiscal 2025 and thereafter	1,199.5			1.3			1,200.8
Total lease payments	2,694.6			7.3			2,701.9
Less: imputed interest	(443.9		)	(1.8		)	(445.7		)
Total lease liabilities	$	2,250.7		$	5.5		$	2,256.2

The future minimum fixed sublease receipts under non-cancelable operating lease agreements as of March 28, 2020 are as follows:



	March 28, 2020
	(millions)
Remainder of Fiscal 2020	$	5.2
Fiscal 2021	21.0
Fiscal 2022	19.9
Fiscal 2023	15.9
Fiscal 2024	15.5
Fiscal 2025 and thereafter	187.5
Total sublease income	$	265.0



	March 28, 2020
Weighted average remaining lease term (years):
Operating leases	8.72
Finance leases	5.18
Weighted average discount rate:
Operating leases	3.7	%
Finance leases	11.3	%

Additionally, the Company had approximately $3.3 million of future payment obligations related to executed lease agreements for which the related lease has not yet commenced as of March 28, 2020.

As reported under the previous accounting standard, the following table provides a summary of future minimum rental payments under non-cancelable operating leases, as of June 29, 2019:



	June 29, 2019
	(millions)
2020	$	399.0
2021	341.5
2022	308.2
2023	270.4
2024	226.5
Subsequent to 2024	1,065.7
Total minimum future rental payments	$	2,611.3

Earnings per Share

9 Months Ended

Mar. 28, 2020

Earnings Per Share [Abstract]

Earnings per Share

EARNINGS 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 restricted stock units and any other potentially dilutive instruments, only in the periods in which such effects are dilutive under the treasury stock method.

The following is a reconciliation of the weighted-average shares outstanding and calculation of basic and diluted earnings per share:



	Three Months Ended					Nine Months Ended
	March 28, 2020			March 30, 2019		March 28, 2020			March 30, 2019
	(millions, except per share data)
Net income (loss)	$	(677.1	)	$	117.4	$	(358.3	)	$	494.5

Weighted-average basic shares	276.1			290.0		279.4			289.5
Dilutive securities:
Effect of dilutive securities	0.5			0.9		0.8			1.7
Weighted-average diluted shares	276.6			290.9		280.2			291.2

Net income per share:
Basic	$	(2.45	)	$	0.40	$	(1.28	)	$	1.71
Diluted	$	(2.45	)	$	0.40	$	(1.28	)	$	1.70

Earnings per share amounts have been calculated based on unrounded numbers. Options to purchase shares of the Company's common stock at an exercise price greater than the average market price of the common stock during the reporting period are anti-dilutive and therefore not included in the computation of diluted net income per common share. In addition, the Company has outstanding restricted stock unit awards that are issuable only upon the achievement of certain performance goals. Performance-based restricted stock unit awards are included in the computation of diluted shares only to the extent that the underlying performance conditions (and any applicable market condition modifiers) (i) are satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related contingency period and the result would be dilutive under the treasury stock method. As of March 28, 2020 and March 30, 2019, there were 13.0 million and 11.3 million, respectively, of additional shares issuable upon exercise of anti-dilutive options and contingent vesting of performance-based restricted stock unit awards, which were excluded from the diluted share calculations.

Share-based Compensation

9 Months Ended

Mar. 28, 2020

Share-based Payment Arrangement [Abstract]

Share-based Compensation

SHARE-BASED COMPENSATION

The following table shows the share-based compensation expense and the related tax benefits recognized in the Company's Condensed Consolidated Statements of Operations for the periods indicated:



	Three Months Ended				Nine Months Ended
	March 28, 2020		March 30, 2019		March 28, 2020		March 30, 2019
	(millions)
Share-based compensation expense⁽¹⁾	$	13.2	$	23.5	$	56.8	$	67.4
Income tax benefit related to share-based compensation expense	2.9		4.4		11.8		12.6


⁽¹⁾	During the nine months ended March 28, 2020, the Company incurred $9.8 million of share-based compensation expense related to its organization-related and integration activities. During the three and nine months ended March 30, 2019, the Company incurred $1.2 million and $2.0 million of share-based compensation expense related to integration activities, respectively.

Stock Options

A summary of stock option activity during the nine months ended March 28, 2020 is as follows:



	Number of Options Outstanding
	(millions)
Outstanding at June 29, 2019	12.4
Granted	5.4
Exercised	—
Forfeited or expired	(0.8	)
Outstanding at March 28, 2020	17.0

The weighted-average grant-date fair value of options granted during the nine months ended March 28, 2020 and March 30, 2019 was $3.83 and $9.77, respectively. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model and the following weighted-average assumptions:



	March 28, 2020		March 30, 2019
Expected term (years)	5.1		5.0
Expected volatility	37.6	%	30.3	%
Risk-free interest rate	1.5	%	3.1	%
Dividend yield	6.4	%	3.1	%

Service-based Restricted Stock Unit Awards ("RSUs")

A summary of service-based RSU activity during the nine months ended March 28, 2020 is as follows:



	Number of Non-vested RSUs
	(millions)
Non-vested at June 29, 2019	3.3
Granted	4.0
Vested	(1.4	)
Forfeited	(0.5	)
Non-vested at March 28, 2020	5.4

The weighted-average grant-date fair value of share awards granted during the nine months ended March 28, 2020 and March 30, 2019 was $21.34 and $49.87, respectively.

Performance-based Restricted Stock Unit Awards ("PRSUs")

A summary of PRSU activity during the nine months ended March 28, 2020 is as follows:



	Number of Non-vested PRSUs
	(millions)
Non-vested at June 29, 2019	0.9
Granted	0.6
Change due to performance condition achievement	—
Vested	(0.3	)
Forfeited	(0.1	)
Non-vested at March 28, 2020	1.1

The PRSU awards included in the non-vested amount are based on certain Company-specific financial metrics. The effect of the change due to performance condition on the non-vested amount is recognized at the conclusion of the performance period, which may differ from the date on which the award vests.

The weighted-average grant-date fair value per share of PRSU awards granted during the nine months ended March 28, 2020 and March 30, 2019 was $21.30 and $50.35, respectively.

Debt

9 Months Ended

Mar. 28, 2020

Debt Disclosure [Abstract]

Debt

DEBT

The following table summarizes the components of the Company’s outstanding debt:



	March 28, 2020			June 29, 2019
	(millions)
Current debt:
Capital lease obligations	$	—		$	0.8
Note Payable	11.5			—
Total current debt	$	11.5		$	0.8

Long-term debt:
4.250% Senior Notes due 2025	$	600.0		$	600.0
3.000% Senior Notes due 2022	400.0			400.0
4.125% Senior Notes due 2027	600.0			600.0
Note Payable	—			11.4
Capital lease obligations⁽¹⁾	—			5.3
Total long-term debt	1,600.0			1,616.7
Less: Unamortized discount and debt issuance costs on Senior Notes	(12.8		)	(14.8		)
Total long-term debt, net	$	1,587.2		$	1,601.9


⁽¹⁾	Refer to Note 3, "Recent Accounting Pronouncements," for further information.

During the three and nine months ended March 28, 2020, the Company recognized interest expense related to its debt of $16.7 million and $50.2 million, respectively. During the three and nine months ended March 30, 2019, the Company recognized interest expense related to its debt of $16.7 million and $50.1 million, respectively.

Revolving Credit Facility

On October 24, 2019, the Company entered into a definitive credit agreement whereby Bank of America, N.A., as administrative agent, the other agents party thereto, and a syndicate of banks and financial institutions have made available to the Company a $900.0 million revolving credit facility, including sub-facilities for letters of credit, with a maturity date of October 24, 2024. The Revolving Credit Facility refinanced and replaced the Company’s unsecured revolving facility dated May 30, 2017. The Revolving Credit Facility may be used to finance the working capital needs, capital expenditures, permitted investments, share purchases, dividends and other general corporate purposes of the Company and its subsidiaries (which may include commercial paper back-up). Letters of credit and swing line loans may be issued under the Revolving Credit Facility as described below. There were no outstanding borrowings on the Revolving Credit Facility as of March 28, 2020. On March 30, 2020, the Company borrowed $700.0 million in the aggregate under the Revolving Credit Facility. Refer to Note 2, "Basis of Presentation and Organization" and Note 18, "Subsequent Events" for further information.

Borrowings under the Revolving Credit Facility bear interest at a rate per annum equal to, at the Borrowers’ option, either (a) an alternate base rate (which is a rate equal to the greatest of (i) the Prime Rate in effect on such day, (ii) the Federal Funds Effective Rate in effect on such day plus ½ of 1% or (iii) the Adjusted LIBO Rate for a one month Interest Period on such day plus 1%) or (b) a rate based on the rates applicable for deposits in the interbank market for U.S. Dollars or the applicable currency in which the loans are made plus, in each case, an applicable margin. The applicable margin will be determined by reference to a grid, as defined in the Credit Agreement, based on the ratio of (a) consolidated debt plus operating lease liability to (b) consolidated EBITDAR. Additionally, the Company pays a commitment fee at a rate determined by the reference to the aforementioned pricing grid.

4.250% Senior Notes due 2025

On March 2, 2015, the Company issued $600.0 million aggregate principal amount of 4.250% senior unsecured notes due April 1, 2025 at 99.445% of par (the “2025 Senior Notes”). Interest is payable semi-annually on April 1 and October 1 beginning October 1, 2015. Prior to January 1, 2025 (90 days prior to the scheduled maturity date), the Company may redeem the 2025 Senior Notes in whole or in part, at its option at any time or from time to time, at a redemption price equal to the greater of (1) 100% of

the principal amount of the 2025 Senior Notes to be redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would have been payable in respect of the 2025 Senior Notes calculated as if the maturity date of the 2025 Senior Notes was January 1, 2025 (not including any portion of payments of interest accrued to the date of redemption), discounted to the redemption date on a semi-annual basis at the Adjusted Treasury Rate (as defined in the indenture for the 2025 Senior Notes) plus 35 basis points, plus, in the case of each of (1) and (2), accrued and unpaid interest to the redemption date. On and after January 1, 2025 (90 days prior to the scheduled maturity date), the Company may redeem the 2025 Senior Notes in whole or in part, at its option at any time or from time to time, at a redemption price equal to 100% of the principal amount of the 2025 Senior Notes to be redeemed, plus accrued and unpaid interest to the redemption date.

3.000% Senior Notes due 2022

On June 20, 2017, the Company issued $400.0 million aggregate principal amount of 3.000% senior unsecured notes due July 15, 2022 at 99.505% of par (the "2022 Senior Notes"). Interest is payable semi-annually on January 15 and July 15 beginning January 15, 2018. Prior to June 15, 2022 (one month prior to the scheduled maturity date), the Company may redeem the 2022 Senior Notes in whole or in part, at its option at any time or from time to time, at a redemption price equal to the greater of (1) 100% of the principal amount of the 2022 Senior Notes to be redeemed or (2) as determined by a Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon that would have been payable in respect of the 2022 Senior Notes calculated as if the maturity date of the 2022 Senior Notes was June 15, 2022 (not including any portion of payments of interest accrued to the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (as defined in the Prospectus Supplement) plus 25 basis points, plus, in the case of each of (1) and (2), accrued and unpaid interest to the redemption date.

4.125% Senior Notes due 2027

On June 20, 2017, the Company issued $600.0 million aggregate principal amount of 4.125% senior unsecured notes due July 15, 2027 at 99.858% of par (the "2027 Senior Notes"). Interest is payable semi-annually on January 15 and July 15 beginning January 15, 2018. Prior to April 15, 2027 (the date that is three months prior to the scheduled maturity date), the Company may redeem the 2027 Senior Notes in whole or in part, at its option at any time or from time to time, at a redemption price equal to the greater of (1) 100% of the principal amount of the 2027 Senior Notes to be redeemed or (2) as determined by a Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon that would have been payable in respect of the 2027 Senior Notes calculated as if the maturity date of the 2027 Senior Notes was April 15, 2027 (not including any portion of payments of interest accrued to the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (as defined in the Prospectus Supplement) plus 30 basis points, plus, in the case of each of (1) and (2), accrued and unpaid interest to the redemption date.

At March 28, 2020, the fair value of the 2025, 2022 and 2027 Senior Notes was approximately $556.7 million, $388.5 million, and $474.2 million, respectively, based on external pricing data, including available quoted market prices of these instruments, and consideration of comparable debt instruments with similar interest rates and trading frequency, among other factors, and is classified as a Level 2 measurement within the fair value hierarchy. At June 29, 2019, the fair value of the 2025, 2022 and 2027 Senior Notes was approximately $629.6 million, $398.6 million and $605.5 million, respectively.

Note Payable

As a result of taking operational control of the Kate Spade Joint Ventures in China, the Company has an outstanding Note Payable of $11.5 million and $11.4 million as of March 28, 2020 and June 29, 2019, respectively, to the other partner of the Kate Spade Joint Ventures, to be paid in fiscal 2021.

Fair Value Measurements

9 Months Ended

Mar. 28, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The Company categorizes 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.

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 Company does not have any Level 3 investments.

The following table shows the fair value measurements of the Company’s financial assets and liabilities at March 28, 2020 and June 29, 2019:



	Level 1				Level 2
	March 28, 2020		June 29, 2019		March 28, 2020		June 29, 2019
	(millions)
Assets:
Cash equivalents⁽¹⁾	$	293.6	$	454.3	$	0.3	$	0.4
Short-term investments:
Time deposits⁽²⁾	—		—		0.6		0.6
Commercial paper⁽²⁾	—		—		—		17.9
Government securities - U.S.⁽²⁾	—		102.6		—		—
Corporate debt securities - U.S.⁽²⁾	—		—		102.2		95.8
Corporate debt securities - non U.S.⁽²⁾	—		—		42.9		37.3
Other	—		—		9.9		10.4
Long-term investments:
Other	—		—		0.1		0.1
Derivative assets:
Inventory-related instruments⁽³⁾	—		—		4.7		1.1
Intercompany loan and payable hedges⁽³⁾	—		—		2.0		—
Liabilities:
Derivative liabilities:
Inventory-related instruments⁽³⁾	—		—		2.5		4.9
Intercompany loan and payable hedges⁽³⁾	—		—		2.4		0.1


⁽¹⁾	Cash equivalents consist of money market funds and time deposits with maturities of three months or less at the date of purchase. Due to their short-term maturity, management believes that their carrying value approximates fair value.


⁽²⁾	Short-term investments are recorded at fair value, which approximates their carrying value, and are primarily based upon quoted vendor or broker priced securities in active markets.


⁽³⁾	The fair value of these 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.

Refer to Note 12, "Debt," for the fair value of the Company's outstanding debt instruments.

Non-Financial Assets and Liabilities

The Company’s non-financial instruments, which primarily consist of goodwill, intangible assets and property and equipment, are not required to be measured at fair value on a recurring basis and are reported at carrying value. However, on a periodic basis whenever events or changes in circumstances indicate that their carrying value may not be fully recoverable (and at least annually for goodwill and indefinite-lived intangible assets), non-financial instruments are assessed for impairment and, if applicable, written-down to and recorded at fair value, considering market participant assumptions.

During the three months ended March 28, 2020, the Company recorded a full impairment of $267.0 million to the Stuart Weitzman indefinite-lived brand intangibles, and a full impairment of $210.7 million to goodwill pertaining to the Stuart Weitzman reporting unit. Refer to Note 7, "Goodwill and Other Intangible Assets" for further information.

Furthermore, when the Company evaluates its long-lived assets for impairment, the assessment is performed for the related asset group that represents the lowest level for which identifiable cash flows are independent of the cash flows of other assets. This determination requires a significant amount of judgment, and is dependent on the Company's overall operating strategy. The Company historically grouped select flagship locations with other stores located within the geographic area surrounding the flagship store as the Company believed the assets of the related group benefited from the Company's investments in the flagship location. Beginning in fiscal 2020, the Company began to (i) evaluate select flagship store closures across all brands, (ii) be more selective about new store openings as it focuses on store productivity and (iii) invest more significantly in growing its digital business and capabilities. Following this shift in strategy, during the quarter ended September 28, 2019, the Company determined for these certain flagship locations that the individual store represents the lowest level of independent identifiable cash flows.

As a result, the Company identified impairment indicators at certain flagship store locations and recorded lease ROU assets and property and equipment asset impairment charges. In addition, during the third quarter of fiscal 2020, the Company identified impairment indicators at various store locations globally as a result of the Covid-19 pandemic. The fair value of these assets were determined based on Level 3 measurements. Inputs to these fair value measurements included estimates of the amounts and the timing of the stores' net future discounted cash flows based on historical experience, current trends and market conditions.

During the three months and nine months ended March 28, 2020, the Company recorded $46.7 million and $86.5 million of impairment charges to reduce the carrying amount of certain store assets within property and equipment, net to their estimated fair values. During the three months and nine months ended March 28, 2020, the Company recorded $27.9 million and $63.7 million of impairment charges to reduce the carrying amount of certain operating lease right-of-use assets to their estimated fair values.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial 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 entity 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 risks 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.

+ References + Details

Investments

9 Months Ended

Mar. 28, 2020

Investments, Debt and Equity Securities [Abstract]

Investments

INVESTMENTS

The following table summarizes the Company’s U.S. dollar-denominated investments, recorded within the Company's Condensed Consolidated Balance Sheets as of March 28, 2020 and June 29, 2019:



	March 28, 2020						June 29, 2019
	Short-term		Long-term		Total		Short-term		Long-term		Total
	(millions)
Available-for-sale investments:
Commercial paper⁽¹⁾	$	—	$	—	$	—	$	17.9	$	—	$	17.9
Government securities - U.S.⁽²⁾	—		—		—		102.6		—		102.6
Corporate debt securities - U.S.⁽²⁾	102.2		—		102.2		95.8		—		95.8
Corporate debt securities - non-U.S.⁽²⁾	42.9		—		42.9		37.3		—		37.3
Available-for-sale investments, total	$	145.1	$	—	$	145.1	$	253.6	$	—	$	253.6
Other:
Time deposits⁽¹⁾	0.6		—		0.6		0.6		—		0.6
Other	9.9		0.1		10.0		10.4		0.1		10.5
Total Investments	$	155.6	$	0.1	$	155.7	$	264.6	$	0.1	$	264.7


⁽¹⁾	These securities have original maturities greater than three months and are recorded at fair value.


⁽²⁾	These securities as of March 28, 2020 have maturity dates between calendar years 2020 and 2021 and are recorded at fair value.

There were no material gross unrealized gains or losses on available-for-sale investments as of the periods ended March 28, 2020 and June 29, 2019.

Income Taxes	9 Months Ended
Income Taxes	Mar. 28, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The effective tax rate for the nine months ended March 28, 2020, was calculated based on year to date results. The Company normally calculates the rate based on annual forecasted results (“annual effective tax rate method”). However, given the rapidly evolving Covid-19 pandemic and the difficulty predicting the full magnitude of the effects on the Company's forecasted results, it was determined that the historical method of calculating the provision for income taxes during interim reporting periods would not provide a reliable estimate for the period ended March 28, 2020. The Company's effective tax rate for the nine months ended March 28, 2020, was (10.8%) as compared to 18.6% for the nine months ended March 30, 2019. The negative rate resulted from tax expense being recorded on an overall operating loss for the period ended March 28, 2020. The decrease in the effective tax rate was primarily attributable to certain goodwill and trade name impairments that were non-deductible for tax purposes and the overall decline in revenue. On March 27, 2020, H.R. 748, known as the CARES Act, was enacted. The provisions of the Act most applicable to the Company are the modification to allow for a five-year carryback of net operating losses and the technical amendment allowing businesses to claim an immediate deduction for costs associated with qualified improvement property. Given the Company’s approach for reporting its effective tax rate for the nine months ended March 28, 2020, based on year to date results, neither of these provisions materially impacted the Company’s rate for the period ended March 28, 2020.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Mar. 28, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Letters of Credit The Company had standby letters of credit, surety bonds and bank guarantees totaling $33.2 million and $34.5 million outstanding at March 28, 2020 and June 29, 2019, respectively. The agreements, which expire at various dates through calendar 2039, primarily collateralize the Company's obligation to third parties for duty, leases, insurance claims and materials used in product manufacturing. The Company pays certain fees with respect to these instruments that are issued. Other The Company had other contractual cash obligations as of March 28, 2020 related to debt repayments. Refer to Note 12, "Debt," for further information. In the ordinary course of business, the Company is a party to several pending legal proceedings and claims. Although the outcome of such items cannot be determined with certainty, the Company's Chief Legal Officer and management are of the opinion that the final outcome will not have a material effect on the Company’s cash flow, results of operations or financial position.

Segment Information

9 Months Ended

Mar. 28, 2020

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company has three reportable segments:


•	Coach - Includes global sales of Coach brand products to customers through Coach operated stores, including the Internet and concession shop-in-shops, sales to wholesale customers and through independent third party distributors.


•	Kate Spade - Includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including the Internet, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors.


•	Stuart Weitzman - Includes global sales of Stuart Weitzman brand products to customers primarily through Stuart Weitzman operated stores, including the Internet, sales to wholesale customers and through numerous independent third party distributors.

In deciding how to allocate resources and assess performance, the Company's chief operating decision maker regularly evaluates the sales and operating income of these segments. Operating income is the gross margin of the segment less direct expenses of the segment.

The following table summarizes segment performance for the three and nine months ended March 28, 2020 and March 30, 2019:



	Coach		Kate Spade			Stuart Weitzman			Corporate⁽¹⁾			Total
	(millions)
Three Months Ended March 28, 2020
Net sales	$	772.5	$	249.5		$	50.7		$	—		$	1,072.7
Gross profit⁽²⁾	475.7		122.5			18.0			—			616.2
Operating income (loss)	38.1		(91.3		)	(530.7		)	(101.6		)	(685.5		)
Income (loss) before provision for income taxes	38.1		(91.3		)	(530.7		)	(121.1		)	(705.0		)
Depreciation and amortization expense⁽³⁾	42.0		42.1			487.5			13.6			585.2
Additions to long-lived assets⁽⁴⁾	21.5		19.2			3.0			7.0			50.7

Three Months Ended March 30, 2019
Net sales	$	965.0	$	281.1		$	85.3		$	—		$	1,331.4
Gross profit	691.7		177.9			46.3			—			915.9
Operating income (loss)	238.9		7.1			(14.1		)	(122.1		)	109.8
Income (loss) before provision for income taxes	238.9		7.1			(14.1		)	(136.7		)	95.2
Depreciation and amortization expense⁽³⁾	31.8		14.7			4.3			12.8			63.6
Additions to long-lived assets⁽⁴⁾	17.3		15.2			4.7			30.6			67.8

Nine Months Ended March 28, 2020
Net sales	$	3,008.3	$	985.4		$	252.9		$	—		$	4,246.6
Gross profit⁽²⁾	2,030.6		576.4			133.4			—			2,740.4
Operating income (loss)	620.4		(30.6		)	(540.4		)	(320.2		)	(270.8		)
Income (loss) before provision for income taxes	620.4		(30.6		)	(540.4		)	(372.8		)	(323.4		)
Depreciation and amortization expense⁽³⁾	121.1		84.1			505.2			39.8			750.2
Additions to long-lived assets⁽⁴⁾	66.2		54.5			13.3			38.9			172.9

Nine Months Ended March 30, 2019
Net sales	$	3,174.3	$	1,034.9		$	304.2		$	—		$	4,513.4
Gross profit	2,231.5		658.0			165.0			—			3,054.5
Operating income (loss)	848.4		140.1			(21.9		)	(318.0		)	648.6
Income (loss) before provision for income taxes	848.4		140.1			(21.9		)	(359.3		)	607.3
Depreciation and amortization expense⁽³⁾	98.9		43.3			12.4			36.5			191.1
Additions to long-lived assets⁽⁴⁾	50.6		53.8			8.5			71.3			184.2


⁽¹⁾	Corporate, which is not a reportable segment, represents certain costs that are not directly attributable to a brand. These costs primarily include administration and certain information systems expense.

⁽²⁾

Gross profit reflects charges recorded within Cost of sales of $61.9 million within the Coach segment, $32.3 million within the Kate Spade segment and $9.8 million within the Stuart Weitzman segment for the three and nine months ended March 28, 2020 as a result of establishing inventory reserves directly related to the expected impact of Covid-19 on the Company's future sales projections. The non-cash portion of these charges are presented within Impairment charges on the Condensed Consolidated Statement of Cash Flows.

⁽³⁾

Depreciation and amortization expense includes $0.2 million of integration costs recorded within the Kate Spade segment for the nine months ended March 28, 2020 and $0.1 million and $1.3 million for the three and nine months ended March 30, 2019, respectively. Depreciation and amortization expense includes impairment charges of $11.9 million for Coach, $21.0 million for Kate Spade and $482.4 million for Stuart Weitzman for the three months ended March 28, 2020, as a result of impairment of Stuart Weitzman intangible assets as well as store impairments due to the Covid-19 pandemic. Depreciation

and amortization expense includes impairment charges of $31.4 million for Coach, $33.0 million for Kate Spade and $490.7 million for Stuart Weitzman for the nine months ended March 28, 2020. Refer to Note 7, "Goodwill and Other Intangible Assets" and Note 13, "Fair Value Measurements," for further information. Depreciation and amortization expense for the segments includes an allocation of expense related to assets which support multiple segments.

⁽⁴⁾

Additions to long-lived assets for the reportable segments primarily includes store assets as well as assets that support a specific brand. Corporate additions include all other assets which include a combination of Corporate assets, as well as assets that may support all segments. As such, depreciation expense for these assets may be subsequently allocated to a reportable segment.

Subsequent Events	9 Months Ended
Subsequent Events	Mar. 28, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On March 25, 2020, the Company elected to draw down $700 million in the aggregate under the Revolving Credit Facility. The draw down was funded to the Company on March 30, 2020. The Company elected to borrow under the Credit Agreement as a precautionary measure in order to increase its cash position and preserve financial flexibility in light of current uncertainty in the global markets resulting from the Covid-19 outbreak. The draw-down proceeds from the Credit Agreement are expected to be held on the Company’s balance sheet and may be used for general corporate purposes. Furthermore, in response to the Covid-19 pandemic, the Company has taken other actions to reinforce its liquidity and financial flexibility. Specific actions that the Company is undertaking include, but are not limited to, actively reducing non-essential SG&A expense, reducing corporate compensation, terminating 2,100 part-time store associates, tightly managing inventory, reducing capital expenditures, in addition to suspending its quarterly dividend and all share repurchases for the foreseeable future which was announced during the third fiscal quarter. Refer to Note 2, "Basis of Presentation and Organization" for further information.

Basis of Presentation and Organization (Policies)

9 Months Ended

Mar. 28, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Fiscal Periods

The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to June 30. Fiscal 2020 will be a 52-week period. Fiscal 2019 ended on June 29, 2019 and was also a 52-week period. The third quarter of fiscal 2020 ended on March 28, 2020 and the third quarter of fiscal 2019 ended on March 30, 2019, both of which were 13-week periods.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and footnotes thereto. Actual results could differ from estimates in amounts that may be material to the financial statements.

Significant estimates inherent in the preparation of the condensed consolidated financial statements include useful lives and impairments of long-lived tangible and intangible assets; reserves for the realizability of inventory; customer returns, end-of-season markdowns and operational chargebacks; accounting for income taxes (including the impacts of tax legislation) and related uncertain tax positions; accounting for business combinations; the valuation of stock-based compensation awards and related expected forfeiture rates; reserves for restructuring; and reserves for litigation and other contingencies, amongst others.

Share Repurchases

The Company accounts for share repurchases by allocating the repurchase price to common stock and retained earnings. As a result, all repurchased shares are authorized but unissued shares. Under Maryland law, the Company's state of incorporation, there are no treasury shares. The Company accrues for the shares purchased under the share repurchase plan based on the trade date. Purchases of the Company's common stock are executed through open market purchases, including through a purchase agreement under Rule 10b5-1. The Company may terminate or limit the share repurchase program at any time.

Principles of Consolidation

These unaudited interim condensed consolidated financial statements include the accounts of the Company and all 100% owned and controlled subsidiaries. All intercompany transactions and balances are eliminated in consolidation.

Reclassifications

Certain reclassifications have been made to the prior periods' financial information in order to conform to the current period's presentation. Beginning in fiscal 2020, the Company presented the impact of foreign currency gains and losses within Other expense (income) within its Condensed Consolidated Statements of Operations. Accordingly, foreign currency gains and losses that were reported within Selling, general and administrative expenses ("SG&A") in fiscal 2019 are now reflected within Other expense (income).

Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted

Recently Adopted Accounting Pronouncements

The effects of the adoption on selected line items within the Company's Condensed Consolidated Balance Sheet as of June 30, 2019 were as follows:



	June 29, 2019					June 30, 2019
	As Reported under ASC 840		ASC 842 Adjustments			As Reported under ASC 842
	(millions)
Current Assets:
Prepaid expenses⁽¹⁾	$	99.8	$	(37.8	)	$	62.0
Other current assets⁽¹⁾	91.0		(2.3		)	88.7
Long-term Assets:
Operating lease right-of-use assets⁽¹⁾	—		2,133.7			2,133.7
Intangible assets⁽¹⁾	1,711.9		(58.5		)	1,653.4
Deferred income tax assets⁽³⁾	19.4		1.7			21.1
Other assets⁽¹⁾	134.2		(27.4		)	106.8
Current Liabilities:
Accrued liabilities⁽¹⁾⁽³⁾	673.6		(39.2		)	634.4
Operating lease liabilities⁽²⁾	—		362.3			362.3
Current debt	0.8		(0.8		)	—
Long-term Liabilities:
Long-term debt	1,601.9		(5.3		)	1,596.6
Operating lease liabilities⁽²⁾	—		1,961.6			1,961.6
Deferred income tax liabilities⁽³⁾	234.1		(13.1		)	221.0
Other liabilities⁽¹⁾⁽³⁾	454.0		(207.2		)	246.8
Stockholder's Equity:
Retained earnings (accumulated deficit)⁽³⁾	291.6		(48.9		)	242.7

⁽¹⁾


⁽²⁾	Upon adoption, the Company recognized lease liabilities of $2.32 billion on the Condensed Consolidated Balance Sheet, which were recorded with Current and Long-term lease liabilities.

⁽³⁾

Recently Issued Accounting Pronouncements Not Yet Adopted

statements and notes thereto, however, does not expect a material impact resulting from this guidance.

Recent Accounting Pronouncements (Tables)

9 Months Ended

Mar. 28, 2020

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The effects of the adoption on selected line items within the Company's Condensed Consolidated Balance Sheet as of June 30, 2019 were as follows:



	June 29, 2019					June 30, 2019
	As Reported under ASC 840		ASC 842 Adjustments			As Reported under ASC 842
	(millions)
Current Assets:
Prepaid expenses⁽¹⁾	$	99.8	$	(37.8	)	$	62.0
Other current assets⁽¹⁾	91.0		(2.3		)	88.7
Long-term Assets:
Operating lease right-of-use assets⁽¹⁾	—		2,133.7			2,133.7
Intangible assets⁽¹⁾	1,711.9		(58.5		)	1,653.4
Deferred income tax assets⁽³⁾	19.4		1.7			21.1
Other assets⁽¹⁾	134.2		(27.4		)	106.8
Current Liabilities:
Accrued liabilities⁽¹⁾⁽³⁾	673.6		(39.2		)	634.4
Operating lease liabilities⁽²⁾	—		362.3			362.3
Current debt	0.8		(0.8		)	—
Long-term Liabilities:
Long-term debt	1,601.9		(5.3		)	1,596.6
Operating lease liabilities⁽²⁾	—		1,961.6			1,961.6
Deferred income tax liabilities⁽³⁾	234.1		(13.1		)	221.0
Other liabilities⁽¹⁾⁽³⁾	454.0		(207.2		)	246.8
Stockholder's Equity:
Retained earnings (accumulated deficit)⁽³⁾	291.6		(48.9		)	242.7

⁽¹⁾


⁽²⁾	Upon adoption, the Company recognized lease liabilities of $2.32 billion on the Condensed Consolidated Balance Sheet, which were recorded with Current and Long-term lease liabilities.

⁽³⁾

Revenue (Tables)

9 Months Ended

Mar. 28, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue



	North America		Greater China⁽¹⁾		Other Asia⁽²⁾		Other⁽³⁾		Total
	(millions)
Three Months Ended March 28, 2020
Coach	$	427.6	$	103.7	$	193.8	$	47.4	$	772.5
Kate Spade	181.4		8.9		41.1		18.1		249.5
Stuart Weitzman	28.7		10.6		4.5		6.9		50.7
Total	$	637.7	$	123.2	$	239.4	$	72.4	$	1,072.7

Three Months Ended March 30, 2019
Coach	$	484.0	$	213.7	$	212.8	$	54.5	$	965.0
Kate Spade	205.1		13.6		43.8		18.6		281.1
Stuart Weitzman	45.8		18.0		6.3		15.2		85.3
Total	$	734.9	$	245.3	$	262.9	$	88.3	$	1,331.4

Nine Months Ended March 28, 2020
Coach	$	1,751.3	$	451.0	$	622.0	$	184.0	$	3,008.3
Kate Spade	761.8		34.8		125.2		63.6		985.4
Stuart Weitzman	137.7		62.7		16.4		36.1		252.9
Total	$	2,650.8	$	548.5	$	763.6	$	283.7	$	4,246.6

Nine Months Ended March 30, 2019
Coach	$	1,788.1	$	577.2	$	627.9	$	181.1	$	3,174.3
Kate Spade	812.3		37.4		118.9		66.3		1,034.9
Stuart Weitzman	170.4		57.1		18.5		58.2		304.2
Total	$	2,770.8	$	671.7	$	765.3	$	305.6	$	4,513.4


⁽¹⁾	Greater China includes mainland China, Hong Kong SAR, Macao SAR and Taiwan.


⁽²⁾	Other Asia includes Japan, Australia, New Zealand, South Korea, Thailand and other countries within Asia.

⁽³⁾

Other sales primarily represents sales in Europe, the Middle East and royalties related to licensing.

Integration (Tables)

9 Months Ended

Mar. 28, 2020

Business Combinations [Abstract]

Schedule of Integration Charges

A summary of the integration charges is as follows:



	Three Months Ended					Nine Months Ended
	March 28, 2020		March 30, 2019			March 28, 2020		March 30, 2019
	(millions)
Purchase accounting adjustments⁽¹⁾	$	—	$	3.9		$	0.8	$	9.3
Acquisition costs⁽²⁾	—		0.3			—		1.0
Inventory-related charges⁽³⁾	—		1.0			4.9		(0.4		)
Contractual payments⁽⁴⁾	—		(0.6		)	—		6.6
Other⁽⁵⁾	3.4		16.0			5.9		38.8
Total	$	3.4	$	20.6		$	11.6	$	55.3


⁽¹⁾	Purchase accounting adjustments primarily relate to the short-term impact of the amortization of fair value adjustments.


⁽²⁾	Acquisition costs were primarily related to deal fees associated with acquisitions.


⁽³⁾	Inventory-related charges primarily relate to inventory reserves.


⁽⁴⁾	Contractual payments primarily relate to contract termination charges for the three and nine months ended March 30, 2019.

⁽⁵⁾

Other primarily relates to share-based compensation, severance charges, professional fees and asset write-offs.

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Mar. 28, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Change in Carrying Amount of Goodwill by Segment

The change in the carrying amount of the Company’s goodwill by segment is as follows:



	Coach			Kate Spade			Stuart Weitzman			Total
	(millions)
Balance at June 29, 2019	$	661.8		$	640.4		$	214.0		$	1,516.2
Impairment charges	—			—			(210.7		)	(210.7		)
Foreign exchange impact	(1.9		)	(1.8		)	(3.3		)	(7.0		)
Balance at March 28, 2020	$	659.9		$	638.6		$	—		$	1,298.5

Schedule of Indefinite-Lived Intangible Assets

Intangible assets consist of the following:



	March 28, 2020							June 29, 2019
	Gross Carrying Amount		Accum. Amort.			Net		Gross Carrying Amount		Accum. Amort.			Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	100.5	$	(29.2	)	$	71.3	$	100.6	$	(24.0	)	$	76.6
Favorable lease rights⁽¹⁾	—		—			—		93.1		(34.6		)	58.5
Total intangible assets subject to amortization	100.5		(29.2		)	71.3		193.7		(58.6		)	135.1
Intangible assets not subject to amortization:
Trademarks and trade names⁽²⁾	1,309.8		—			1,309.8		1,576.8		—			1,576.8
Total intangible assets	$	1,410.3	$	(29.2	)	$	1,381.1	$	1,770.5	$	(58.6	)	$	1,711.9


⁽¹⁾	Refer to Note 3, "Recent Accounting Pronouncements," for further information.

⁽²⁾

During the three and nine months ended March 28, 2020, the Company recognized a $267.0 million non-cash charge related to the impairment of the Stuart Weitzman indefinite-lived brand.

Schedule of Finite-Lived Intangible Assets

Intangible assets consist of the following:



	March 28, 2020							June 29, 2019
	Gross Carrying Amount		Accum. Amort.			Net		Gross Carrying Amount		Accum. Amort.			Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	100.5	$	(29.2	)	$	71.3	$	100.6	$	(24.0	)	$	76.6
Favorable lease rights⁽¹⁾	—		—			—		93.1		(34.6		)	58.5
Total intangible assets subject to amortization	100.5		(29.2		)	71.3		193.7		(58.6		)	135.1
Intangible assets not subject to amortization:
Trademarks and trade names⁽²⁾	1,309.8		—			1,309.8		1,576.8		—			1,576.8
Total intangible assets	$	1,410.3	$	(29.2	)	$	1,381.1	$	1,770.5	$	(58.6	)	$	1,711.9


⁽¹⁾	Refer to Note 3, "Recent Accounting Pronouncements," for further information.

⁽²⁾

During the three and nine months ended March 28, 2020, the Company recognized a $267.0 million non-cash charge related to the impairment of the Stuart Weitzman indefinite-lived brand.

Schedule of Expected Amortization Expense

As of March 28, 2020, the expected amortization expense for intangible assets is as follows:



	Amortization Expense
	(millions)
Remainder of fiscal 2020	$	1.1
Fiscal 2021	6.5
Fiscal 2022	6.5
Fiscal 2023	6.5
Fiscal 2024	6.5
Fiscal 2025	6.5
Fiscal 2026 and thereafter	37.7
Total	$	71.3

Stockholders' Equity (Tables)

9 Months Ended

Mar. 28, 2020

Stockholders' Equity Note [Abstract]

Reconciliation of Stockholders Equity

A reconciliation of stockholders' equity is presented below:



	Shares of Common Stock	Common Stock		Additional Paid-in- Capital			Retained Earnings / (Accumulated Deficit)			Accumulated Other Comprehensive Income (Loss)			Total Stockholders' Equity
	(millions, except per share data)
Balance at June 30, 2018	288.0	$	2.9	$	3,205.5		$	119.0		$	(82.8	)	$	3,244.6
Net income (loss)	—	—		—			122.3			—			122.3
Other comprehensive income (loss)	—	—		—			—			(5.3		)	(5.3		)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	1.8	—		3.2			—			—			3.2
Share-based compensation	—	—		22.4			—			—			22.4
Dividends declared ($0.3375 per share)	—	—		—			(97.8)			—			(97.8)
Cumulative adjustment from adoption of new accounting standard (see Note 3)	—	—		—			20.2			—			20.2
Balance at September 29, 2018	289.8	$	2.9	$	3,231.1		$	163.7		$	(88.1	)	$	3,309.6
Net income (loss)	—	—		—			254.8			—			254.8
Other comprehensive income (loss)	—	—		—			—			(3.4		)	(3.4		)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	0.2	—		3.7			—			—			3.7
Share-based compensation	—	—		21.5			—			—			21.5
Dividends declared ($0.3375 per share)	—	—		—			(97.8		)	—			(97.8		)
Balance at December 29, 2018	290.0	$	2.9	$	3,256.3		$	320.7		$	(91.5	)	$	3,488.4
Net income (loss)	—	—		—			117.4			—			117.4
Other comprehensive income	—	—		—			—			1.0			1.0
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	0.1	—		(1.2		)	—			—			(1.2		)
Share-based compensation	—	—		23.5			—			—			23.5
Dividends declared ($0.3375 per share)	—	—		—			(97.9		)	—			(97.9		)



Balance at March 30, 2019	290.1		$	2.9		$	3,278.6		$	340.2		$	(90.5	)	$	3,531.2


	Shares of Common Stock		Common Stock			Additional Paid-in- Capital			Retained Earnings / (Accumulated Deficit)			Accumulated Other Comprehensive Income (Loss)			Total Stockholders' Equity
	(millions, except per share data)
Balance at June 29, 2019	286.8		$	2.9		$	3,302.1		$	291.6		$	(83.2	)	$	3,513.4
Net income (loss)	—		—			—			20.0			—			20.0
Other comprehensive income (loss)	—		—			—			—			(12.8		)	(12.8		)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	1.0		—			(14.5		)	—			—			(14.5		)
Share-based compensation	—		—			26.8			—			—			26.8
Repurchase of common stock	(11.9	)	(0.1		)	—			(299.9		)	—			(300.0		)
Dividends declared ($0.3375 per share)	—		—			—			(97.1		)	—			(97.1		)
Cumulative adjustment from adoption of new accounting standard	—		—			—			(48.9		)	—			(48.9		)
Balance at September 28, 2019	275.9		$	2.8		$	3,314.4		$	(134.3	)	$	(96.0	)	$	3,086.9
Net income (loss)	—		—			—			298.8			—			298.8
Other comprehensive income (loss)	—		—			—			—			11.0			11.0
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	0.1		—			2.1			—			—			2.1
Share-based compensation	—		—			16.8			—			—			16.8
Dividends declared ($0.3375 per share)	—		—			—			(93.2		)	—			(93.2		)
Balance at December 28, 2019	276.0		$	2.8		$	3,333.3		$	71.3		$	(85.0	)	$	3,322.4
Net income (loss)	—		—			—			(677.1		)	—			(677.1		)
Other comprehensive income (loss)	—		—			—			—			(11.7		)	(11.7		)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	0.1		—			(0.5		)	—			—			(0.5		)
Share-based compensation	—		—			13.2			—			—			13.2
Dividends declared ($0.3375 per share)	—		—			—			(93.2		)	—			(93.2		)
Balance at March 28, 2020	276.1		$	2.8		$	3,346.0		$	(699.0	)	$	(96.7	)	$	2,553.1

Components of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) ("AOCI"), as of the dates indicated, are as follows:



	Unrealized Gains (Losses) on Cash Flow Hedging Derivatives⁽¹⁾			Unrealized Gains (Losses) on Available- for-Sale Investments			Cumulative Translation Adjustment			Other⁽²⁾			Total
	(millions)
Balances at June 30, 2018	$	1.4		$	—		$	(85.3	)	$	1.1		$	(82.8	)
Other comprehensive income (loss) before reclassifications	(0.4		)	0.2			(5.2		)	—			(5.4		)
Less: amounts reclassified from accumulated other comprehensive income to earnings	2.3			—			—			—			2.3
Net current-period other comprehensive income (loss)	(2.7		)	0.2			(5.2		)	—			(7.7		)
Balances at March 30, 2019	$	(1.3	)	$	0.2		$	(90.5	)	$	1.1		$	(90.5	)

Balances at June 29, 2019	$	(4.5	)	$	(0.5	)	$	(79.9	)	$	1.7		$	(83.2	)
Other comprehensive income (loss) before reclassifications	(1.7		)	—			(18.3		)	—			(20.0		)
Less: amounts reclassified from accumulated other comprehensive income to earnings	(8.2		)	—			—			1.7			(6.5		)
Net current-period other comprehensive income (loss)	6.5			—			(18.3		)	(1.7		)	(13.5		)
Balances at March 28, 2020	$	2.0		$	(0.5	)	$	(98.2	)	$	—		$	(96.7	)


⁽¹⁾	The ending balances of AOCI related to cash flow hedges are net of tax of ($0.4) million and $0.0 million as of March 28, 2020 and March 30, 2019, respectively. The amounts reclassified from AOCI are net of tax of $4.1 million and ($1.5) million as of March 28, 2020 and March 30, 2019, respectively.

⁽²⁾

Leases (Tables)

9 Months Ended

Mar. 28, 2020

Leases [Abstract]

Assets And Liabilities, Lessee

The following table summarizes the ROU assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020		Location Recorded on Balance Sheet
	(millions)
Assets:
Operating leases	$	1,970.9	Operating lease right-of-use assets
Finance leases	3.4		Property and equipment, net
Total lease assets	$	1,974.3
Liabilities:
Operating leases:
Current lease liabilities	$	353.4	Current lease liabilities
Long-term lease liabilities	1,897.3		Long-term lease liabilities
Total operating lease liabilities	$	2,250.7
Finance leases:
Current lease liabilities	$	0.8	Accrued liabilities
Long-term lease liabilities	4.7		Other liabilities
Total finance lease liabilities	$	5.5

Total lease liabilities	$	2,256.2

Lease, Cost



	March 28, 2020
Weighted average remaining lease term (years):
Operating leases	8.72
Finance leases	5.18
Weighted average discount rate:
Operating leases	3.7	%
Finance leases	11.3	%



	Three Months Ended			Nine Months Ended
	March 28, 2020
	(millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.2		$	0.6
Interest on lease liabilities⁽¹⁾	0.2			0.5
Total finance lease cost	0.4			1.1
Operating lease cost	107.3			324.6
Short-term lease cost	3.5			7.1
Variable lease cost⁽²⁾	39.6			151.7
Operating lease right-of-use impairment	27.9			63.7
Less: sublease income	(4.5		)	(15.2		)
Total net lease cost	$	174.2		$	533.0


⁽¹⁾	Interest on lease liabilities is recorded within Interest expense, net on the Company's Condensed Consolidated Statement of Operations.

⁽²⁾ Rent concessions negotiated related to Covid-19 are recorded in variable lease expense and have an immaterial impact as of March 28, 2020.

The following table summarizes certain cash flow information related to the Company's leases for the nine months ended March 28, 2020:



	Nine Months Ended
	March 28, 2020
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	322.8
Operating cash flows from finance leases	0.5
Financing cash flows from finance leases	0.6
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	184.7
Right-of-use assets obtained in exchange for finance lease liabilities	—

Lessee, Operating Lease, Liability, Maturity

The following table provides a maturity analysis of the Company's lease liabilities recorded on the Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020
	Operating Leases			Finance Leases			Total
	(millions)
Remainder of Fiscal 2020	$	106.4		$	0.4		$	106.8
Fiscal 2021	413.7			1.4			415.1
Fiscal 2022	371.9			1.4			373.3
Fiscal 2023	326.6			1.4			328.0
Fiscal 2024	276.5			1.4			277.9
Fiscal 2025 and thereafter	1,199.5			1.3			1,200.8
Total lease payments	2,694.6			7.3			2,701.9
Less: imputed interest	(443.9		)	(1.8		)	(445.7		)
Total lease liabilities	$	2,250.7		$	5.5		$	2,256.2

Finance Lease, Liability, Maturity

The following table provides a maturity analysis of the Company's lease liabilities recorded on the Condensed Consolidated Balance Sheet as of March 28, 2020:



	March 28, 2020
	Operating Leases			Finance Leases			Total
	(millions)
Remainder of Fiscal 2020	$	106.4		$	0.4		$	106.8
Fiscal 2021	413.7			1.4			415.1
Fiscal 2022	371.9			1.4			373.3
Fiscal 2023	326.6			1.4			328.0
Fiscal 2024	276.5			1.4			277.9
Fiscal 2025 and thereafter	1,199.5			1.3			1,200.8
Total lease payments	2,694.6			7.3			2,701.9
Less: imputed interest	(443.9		)	(1.8		)	(445.7		)
Total lease liabilities	$	2,250.7		$	5.5		$	2,256.2

Lessor, Operating Lease, Payments to be Received, Maturity

The future minimum fixed sublease receipts under non-cancelable operating lease agreements as of March 28, 2020 are as follows:



	March 28, 2020
	(millions)
Remainder of Fiscal 2020	$	5.2
Fiscal 2021	21.0
Fiscal 2022	19.9
Fiscal 2023	15.9
Fiscal 2024	15.5
Fiscal 2025 and thereafter	187.5
Total sublease income	$	265.0

Future Minimum Rental Payments for Operating Leases

As reported under the previous accounting standard, the following table provides a summary of future minimum rental payments under non-cancelable operating leases, as of June 29, 2019:



	June 29, 2019
	(millions)
2020	$	399.0
2021	341.5
2022	308.2
2023	270.4
2024	226.5
Subsequent to 2024	1,065.7
Total minimum future rental payments	$	2,611.3

Earnings per Share (Tables)

9 Months Ended

Mar. 28, 2020

Earnings Per Share [Abstract]

Reconciliation of Weighted-average Shares Outstanding and Calculation of Basic and Diluted Earnings Per Share

The following is a reconciliation of the weighted-average shares outstanding and calculation of basic and diluted earnings per share:



	Three Months Ended					Nine Months Ended
	March 28, 2020			March 30, 2019		March 28, 2020			March 30, 2019
	(millions, except per share data)
Net income (loss)	$	(677.1	)	$	117.4	$	(358.3	)	$	494.5

Weighted-average basic shares	276.1			290.0		279.4			289.5
Dilutive securities:
Effect of dilutive securities	0.5			0.9		0.8			1.7
Weighted-average diluted shares	276.6			290.9		280.2			291.2

Net income per share:
Basic	$	(2.45	)	$	0.40	$	(1.28	)	$	1.71
Diluted	$	(2.45	)	$	0.40	$	(1.28	)	$	1.70

Share-based Compensation (Tables)

9 Months Ended

Mar. 28, 2020

Share-based Payment Arrangement [Abstract]

Compensation Cost Charged Against Income and Related Tax Benefits for Share-based Compensation Plans

The following table shows the share-based compensation expense and the related tax benefits recognized in the Company's Condensed Consolidated Statements of Operations for the periods indicated:



	Three Months Ended				Nine Months Ended
	March 28, 2020		March 30, 2019		March 28, 2020		March 30, 2019
	(millions)
Share-based compensation expense⁽¹⁾	$	13.2	$	23.5	$	56.8	$	67.4
Income tax benefit related to share-based compensation expense	2.9		4.4		11.8		12.6

⁽¹⁾

During the nine months ended March 28, 2020, the Company incurred $9.8 million of share-based compensation expense related to its organization-related and integration activities. During the three and nine months ended March 30, 2019, the Company incurred $1.2 million and $2.0 million of share-based compensation expense related to integration activities, respectively.

Summary of Stock Option Activity

A summary of stock option activity during the nine months ended March 28, 2020 is as follows:



	Number of Options Outstanding
	(millions)
Outstanding at June 29, 2019	12.4
Granted	5.4
Exercised	—
Forfeited or expired	(0.8	)
Outstanding at March 28, 2020	17.0

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model and the following weighted-average assumptions:



	March 28, 2020		March 30, 2019
Expected term (years)	5.1		5.0
Expected volatility	37.6	%	30.3	%
Risk-free interest rate	1.5	%	3.1	%
Dividend yield	6.4	%	3.1	%

Service-based Restricted Stock Unit Awards (RSU)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of RSU Activity

A summary of service-based RSU activity during the nine months ended March 28, 2020 is as follows:



	Number of Non-vested RSUs
	(millions)
Non-vested at June 29, 2019	3.3
Granted	4.0
Vested	(1.4	)
Forfeited	(0.5	)
Non-vested at March 28, 2020	5.4

Performance-based Restricted Stock Unit Awards (PRSU)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of RSU Activity

A summary of PRSU activity during the nine months ended March 28, 2020 is as follows:



	Number of Non-vested PRSUs
	(millions)
Non-vested at June 29, 2019	0.9
Granted	0.6
Change due to performance condition achievement	—
Vested	(0.3	)
Forfeited	(0.1	)
Non-vested at March 28, 2020	1.1

Debt (Tables)

9 Months Ended

Mar. 28, 2020

Debt Disclosure [Abstract]

Summary of the Components of Outstanding Debt

The following table summarizes the components of the Company’s outstanding debt:



	March 28, 2020			June 29, 2019
	(millions)
Current debt:
Capital lease obligations	$	—		$	0.8
Note Payable	11.5			—
Total current debt	$	11.5		$	0.8

Long-term debt:
4.250% Senior Notes due 2025	$	600.0		$	600.0
3.000% Senior Notes due 2022	400.0			400.0
4.125% Senior Notes due 2027	600.0			600.0
Note Payable	—			11.4
Capital lease obligations⁽¹⁾	—			5.3
Total long-term debt	1,600.0			1,616.7
Less: Unamortized discount and debt issuance costs on Senior Notes	(12.8		)	(14.8		)
Total long-term debt, net	$	1,587.2		$	1,601.9

⁽¹⁾

Refer to Note 3, "Recent Accounting Pronouncements," for further information.

Fair Value Measurements (Tables)

9 Months Ended

Mar. 28, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements of Assets and Liabilities

The following table shows the fair value measurements of the Company’s financial assets and liabilities at March 28, 2020 and June 29, 2019:



	Level 1				Level 2
	March 28, 2020		June 29, 2019		March 28, 2020		June 29, 2019
	(millions)
Assets:
Cash equivalents⁽¹⁾	$	293.6	$	454.3	$	0.3	$	0.4
Short-term investments:
Time deposits⁽²⁾	—		—		0.6		0.6
Commercial paper⁽²⁾	—		—		—		17.9
Government securities - U.S.⁽²⁾	—		102.6		—		—
Corporate debt securities - U.S.⁽²⁾	—		—		102.2		95.8
Corporate debt securities - non U.S.⁽²⁾	—		—		42.9		37.3
Other	—		—		9.9		10.4
Long-term investments:
Other	—		—		0.1		0.1
Derivative assets:
Inventory-related instruments⁽³⁾	—		—		4.7		1.1
Intercompany loan and payable hedges⁽³⁾	—		—		2.0		—
Liabilities:
Derivative liabilities:
Inventory-related instruments⁽³⁾	—		—		2.5		4.9
Intercompany loan and payable hedges⁽³⁾	—		—		2.4		0.1


⁽¹⁾	Cash equivalents consist of money market funds and time deposits with maturities of three months or less at the date of purchase. Due to their short-term maturity, management believes that their carrying value approximates fair value.


⁽²⁾	Short-term investments are recorded at fair value, which approximates their carrying value, and are primarily based upon quoted vendor or broker priced securities in active markets.

⁽³⁾

The fair value of these 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.

Investments (Tables)

9 Months Ended

Mar. 28, 2020

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

The following table summarizes the Company’s U.S. dollar-denominated investments, recorded within the Company's Condensed Consolidated Balance Sheets as of March 28, 2020 and June 29, 2019:



	March 28, 2020						June 29, 2019
	Short-term		Long-term		Total		Short-term		Long-term		Total
	(millions)
Available-for-sale investments:
Commercial paper⁽¹⁾	$	—	$	—	$	—	$	17.9	$	—	$	17.9
Government securities - U.S.⁽²⁾	—		—		—		102.6		—		102.6
Corporate debt securities - U.S.⁽²⁾	102.2		—		102.2		95.8		—		95.8
Corporate debt securities - non-U.S.⁽²⁾	42.9		—		42.9		37.3		—		37.3
Available-for-sale investments, total	$	145.1	$	—	$	145.1	$	253.6	$	—	$	253.6
Other:
Time deposits⁽¹⁾	0.6		—		0.6		0.6		—		0.6
Other	9.9		0.1		10.0		10.4		0.1		10.5
Total Investments	$	155.6	$	0.1	$	155.7	$	264.6	$	0.1	$	264.7


⁽¹⁾	These securities have original maturities greater than three months and are recorded at fair value.

⁽²⁾

These securities as of March 28, 2020 have maturity dates between calendar years 2020 and 2021 and are recorded at fair value.

Segment Information (Tables)

9 Months Ended

Mar. 28, 2020

Segment Reporting [Abstract]

Summary of Segment Performance

The following table summarizes segment performance for the three and nine months ended March 28, 2020 and March 30, 2019:



	Coach		Kate Spade			Stuart Weitzman			Corporate⁽¹⁾			Total
	(millions)
Three Months Ended March 28, 2020
Net sales	$	772.5	$	249.5		$	50.7		$	—		$	1,072.7
Gross profit⁽²⁾	475.7		122.5			18.0			—			616.2
Operating income (loss)	38.1		(91.3		)	(530.7		)	(101.6		)	(685.5		)
Income (loss) before provision for income taxes	38.1		(91.3		)	(530.7		)	(121.1		)	(705.0		)
Depreciation and amortization expense⁽³⁾	42.0		42.1			487.5			13.6			585.2
Additions to long-lived assets⁽⁴⁾	21.5		19.2			3.0			7.0			50.7

Three Months Ended March 30, 2019
Net sales	$	965.0	$	281.1		$	85.3		$	—		$	1,331.4
Gross profit	691.7		177.9			46.3			—			915.9
Operating income (loss)	238.9		7.1			(14.1		)	(122.1		)	109.8
Income (loss) before provision for income taxes	238.9		7.1			(14.1		)	(136.7		)	95.2
Depreciation and amortization expense⁽³⁾	31.8		14.7			4.3			12.8			63.6
Additions to long-lived assets⁽⁴⁾	17.3		15.2			4.7			30.6			67.8

Nine Months Ended March 28, 2020
Net sales	$	3,008.3	$	985.4		$	252.9		$	—		$	4,246.6
Gross profit⁽²⁾	2,030.6		576.4			133.4			—			2,740.4
Operating income (loss)	620.4		(30.6		)	(540.4		)	(320.2		)	(270.8		)
Income (loss) before provision for income taxes	620.4		(30.6		)	(540.4		)	(372.8		)	(323.4		)
Depreciation and amortization expense⁽³⁾	121.1		84.1			505.2			39.8			750.2
Additions to long-lived assets⁽⁴⁾	66.2		54.5			13.3			38.9			172.9

Nine Months Ended March 30, 2019
Net sales	$	3,174.3	$	1,034.9		$	304.2		$	—		$	4,513.4
Gross profit	2,231.5		658.0			165.0			—			3,054.5
Operating income (loss)	848.4		140.1			(21.9		)	(318.0		)	648.6
Income (loss) before provision for income taxes	848.4		140.1			(21.9		)	(359.3		)	607.3
Depreciation and amortization expense⁽³⁾	98.9		43.3			12.4			36.5			191.1
Additions to long-lived assets⁽⁴⁾	50.6		53.8			8.5			71.3			184.2


⁽¹⁾	Corporate, which is not a reportable segment, represents certain costs that are not directly attributable to a brand. These costs primarily include administration and certain information systems expense.

⁽²⁾

⁽³⁾

⁽⁴⁾

Basis of Presentation and Organization (Details)	9 Months Ended
Basis of Presentation and Organization (Details)	Mar. 28, 2020 USD ($) part-time_store_associate	Mar. 30, 2020 USD ($)	Oct. 24, 2019 USD ($)	Jun. 30, 2019 USD ($)	Jun. 29, 2019 USD ($)
Subsequent Event [Line Items]
Number of part-time store associates terminated \| part-time_store_associate	2,100
Long-term debt	$ 1,587,200,000			$ 1,596,600,000	$ 1,601,900,000
Revolving Facility \| Revolving Facility
Subsequent Event [Line Items]
Long-term debt	$ 0
Maximum borrowing capacity			$ 900,000,000
Subsequent Event \| Revolving Facility \| Revolving Facility
Subsequent Event [Line Items]
Long-term debt		$ 700,000,000

Recent Accounting Pronouncements (New Accounting Adoption Effect) (Details) - USD ($) $ in Millions	Mar. 28, 2020	Jun. 30, 2019	Jun. 29, 2019
Current Assets:
Prepaid expenses	$ 60.2	$ 62.0	$ 99.8
Other current assets	95.1	88.7	91.0
Operating lease right-of-use assets
Operating lease right-of-use assets	1,970.9	2,133.7
Intangible assets	1,381.1	1,653.4	1,711.9
Deferred income tax assets	35.9	21.1	19.4
Other assets	106.0	106.8	134.2
Current Liabilities:
Accrued liabilities	573.9	634.4	673.6
Operating lease liabilities	353.4	362.3
Current debt	11.5	0.0	0.8
Long-term Liabilities:
Long-term debt	1,587.2	1,596.6	1,601.9
Operating lease liabilities	1,897.3	1,961.6
Deferred income tax liabilities	204.6	221.0	234.1
Other liabilities	214.9	246.8	454.0
Stockholders' Equity:
Retained earnings (accumulated deficit)	$ (699.0)	242.7	$ 291.6
Accounting Standards Update 2016-02
Current Assets:
Prepaid expenses		(37.8)
Other current assets		(2.3)
Operating lease right-of-use assets
Operating lease right-of-use assets		2,133.7
Intangible assets		(58.5)
Deferred income tax assets		1.7
Other assets		(27.4)
Current Liabilities:
Accrued liabilities		(39.2)
Operating lease liabilities		362.3
Current debt		(0.8)
Long-term Liabilities:
Long-term debt		(5.3)
Operating lease liabilities		1,961.6
Deferred income tax liabilities		(13.1)
Other liabilities		(207.2)
Stockholders' Equity:
Retained earnings (accumulated deficit)		$ (48.9)

Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 28, 2020	Jul. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 2,133.7	$ 1,970.9
Operating lease liability		$ 2,250.7
Cumulative adjustment from adoption of new accounting standard	(48.9)		$ 20.2
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	2,133.7
Operating lease liability	2,320.0
Accounting Standards Update 2018-11
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment from adoption of new accounting standard	63.7
Cumulative effect on retained earnings	$ (14.8)

Revenue (Details) - USD ($) $ in Millions	9 Months Ended
Revenue (Details) - USD ($) $ in Millions	Mar. 28, 2020	Mar. 30, 2019	Jun. 29, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, current	$ 31.6		$ 27.5
Deferred revenue, revenue recognized	$ 11.3	$ 16.6
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	30 days
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	90 days
Licensing business \| Net sales
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of revenue	1.00%

Revenue (Disaggregated Sales) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 1,072.7	$ 1,331.4	$ 4,246.6	$ 4,513.4
North America
Disaggregation of Revenue [Line Items]
Net sales	637.7	734.9	2,650.8	2,770.8
Greater China
Disaggregation of Revenue [Line Items]
Net sales	123.2	245.3	548.5	671.7
Other Asia
Disaggregation of Revenue [Line Items]
Net sales	239.4	262.9	763.6	765.3
Other
Disaggregation of Revenue [Line Items]
Net sales	72.4	88.3	283.7	305.6
Coach
Disaggregation of Revenue [Line Items]
Net sales	772.5	965.0	3,008.3	3,174.3
Coach \| North America
Disaggregation of Revenue [Line Items]
Net sales	427.6	484.0	1,751.3	1,788.1
Coach \| Greater China
Disaggregation of Revenue [Line Items]
Net sales	103.7	213.7	451.0	577.2
Coach \| Other Asia
Disaggregation of Revenue [Line Items]
Net sales	193.8	212.8	622.0	627.9
Coach \| Other
Disaggregation of Revenue [Line Items]
Net sales	47.4	54.5	184.0	181.1
Kate Spade
Disaggregation of Revenue [Line Items]
Net sales	249.5	281.1	985.4	1,034.9
Kate Spade \| North America
Disaggregation of Revenue [Line Items]
Net sales	181.4	205.1	761.8	812.3
Kate Spade \| Greater China
Disaggregation of Revenue [Line Items]
Net sales	8.9	13.6	34.8	37.4
Kate Spade \| Other Asia
Disaggregation of Revenue [Line Items]
Net sales	41.1	43.8	125.2	118.9
Kate Spade \| Other
Disaggregation of Revenue [Line Items]
Net sales	18.1	18.6	63.6	66.3
Stuart Weitzman
Disaggregation of Revenue [Line Items]
Net sales	50.7	85.3	252.9	304.2
Stuart Weitzman \| North America
Disaggregation of Revenue [Line Items]
Net sales	28.7	45.8	137.7	170.4
Stuart Weitzman \| Greater China
Disaggregation of Revenue [Line Items]
Net sales	10.6	18.0	62.7	57.1
Stuart Weitzman \| Other Asia
Disaggregation of Revenue [Line Items]
Net sales	4.5	6.3	16.4	18.5
Stuart Weitzman \| Other
Disaggregation of Revenue [Line Items]
Net sales	$ 6.9	$ 15.2	$ 36.1	$ 58.2

Integration (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
Integration (Narrative) (Details) - USD ($)	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Business Acquisition [Line Items]
Integration and acquisition costs	$ 3,400,000	$ 20,600,000	$ 11,600,000	$ 55,300,000
Cost of Sales
Business Acquisition [Line Items]
Integration and acquisition costs	0	5,000,000.0	5,600,000	9,100,000
SG&A expenses
Business Acquisition [Line Items]
Integration and acquisition costs	3,400,000	15,600,000	6,000,000.0	46,200,000
Non-cash charges related to inventory, organization costs and purchase accounting adjustments
Business Acquisition [Line Items]
Integration and acquisition costs		6,700,000		13,000,000.0
Kate Spade \| Cost of Sales
Business Acquisition [Line Items]
Integration and acquisition costs		4,300,000		5,400,000
Kate Spade \| SG&A expenses
Business Acquisition [Line Items]
Integration and acquisition costs	300,000	3,000,000.0	1,100,000	10,100,000
Stuart Weitzman \| Cost of Sales
Business Acquisition [Line Items]
Integration and acquisition costs		700,000	4,300,000	1,700,000
Stuart Weitzman \| SG&A expenses
Business Acquisition [Line Items]
Integration and acquisition costs	200,000	100,000	(1,900,000)	12,200,000
Coach \| Cost of Sales
Business Acquisition [Line Items]
Integration and acquisition costs		0.0		2,000,000.0
Coach \| SG&A expenses
Business Acquisition [Line Items]
Integration and acquisition costs	0.0	5,500,000	(100,000)
Corporate \| SG&A expenses
Business Acquisition [Line Items]
Integration and acquisition costs	2,900,000	$ 7,000,000.0	6,900,000	$ 18,400,000
Kate Spade
Business Acquisition [Line Items]
Expected integration costs	5,000,000		5,000,000
Kate Spade \| Non-cash charges related to inventory, organization costs and purchase accounting adjustments
Business Acquisition [Line Items]
Restructuring costs	$ (100,000)		3,800,000
Kate Spade \| Kate Spade \| Cost of Sales
Business Acquisition [Line Items]
Integration and acquisition costs			1,200,000
Kate Spade \| Coach \| Cost of Sales
Business Acquisition [Line Items]
Integration and acquisition costs			$ 100,000

Integration (Liabilities Related to Integration and Acquisition of Kate Spade) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Business Acquisition [Line Items]
Integration and acquisition costs	$ 3.4	$ 20.6	$ 11.6	$ 55.3
Purchase accounting adjustments
Business Acquisition [Line Items]
Integration and acquisition costs	0.0	3.9	0.8	9.3
Acquisition costs
Business Acquisition [Line Items]
Integration and acquisition costs	0.0	0.3	0.0	1.0
Inventory-related charges
Business Acquisition [Line Items]
Integration and acquisition costs	0.0	1.0	4.9	(0.4)
Contractual payments
Business Acquisition [Line Items]
Integration and acquisition costs	0.0	(0.6)	0.0	6.6
Other integration charges
Business Acquisition [Line Items]
Integration and acquisition costs	$ 3.4	$ 16.0	$ 5.9	$ 38.8

Acquisitions (Narrative) (Details) - Distributor Acquisitions $ in Millions	12 Months Ended
	Jun. 29, 2019 USD ($)
Business Acquisition [Line Items]
Purchase price	$ 47.8
Payments to acquire business, gross	44.0
Business combination, consideration transferred, cash	43.5
Assets acquired	21.8
Goodwill, not expected tax deductible amount	26.0
Stuart Weitzman
Business Acquisition [Line Items]
Goodwill, not expected tax deductible amount	13.3
Kate Spade
Business Acquisition [Line Items]
Goodwill, not expected tax deductible amount	$ 12.7

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 28, 2020	Mar. 28, 2020
Finite-Lived Intangible Assets [Line Items]
Impairment charges		$ 210.7
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life		10 years 1 month 6 days
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life		12 years 3 months 18 days
Stuart Weitzman
Finite-Lived Intangible Assets [Line Items]
Impairment charges		$ 210.7
Trademarks and trade names \| Stuart Weitzman
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 267.0	$ 267.0

Goodwill and Other Intangible Assets (Change in Carrying Value of Goodwill) (Details) $ in Millions	9 Months Ended
	Mar. 28, 2020 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 1,516.2
Impairment charges	(210.7)
Foreign exchange impact	(7.0)
Ending Balance	1,298.5
Coach
Goodwill [Roll Forward]
Beginning Balance	661.8
Impairment charges	0.0
Foreign exchange impact	(1.9)
Ending Balance	659.9
Kate Spade
Goodwill [Roll Forward]
Beginning Balance	640.4
Impairment charges	0.0
Foreign exchange impact	(1.8)
Ending Balance	638.6
Stuart Weitzman
Goodwill [Roll Forward]
Beginning Balance	214.0
Impairment charges	(210.7)
Foreign exchange impact	(3.3)
Ending Balance	$ 0.0

Goodwill and Other Intangible Assets (Indefinite and Finite Lived Assets) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 28, 2020	Mar. 28, 2020	Jun. 30, 2019	Jun. 29, 2019
Intangible assets subject to amortization:
Gross Carrying Amount	$ 100.5	$ 100.5		$ 193.7
Accumulated amortization	(29.2)	(29.2)		(58.6)
Total	71.3	71.3		135.1
Intangible assets not subject to amortization:
Intangible assets, gross (excluding goodwill)	1,410.3	1,410.3		1,770.5
Intangible assets, net (excluding goodwill)	1,381.1	1,381.1	$ 1,653.4	1,711.9
Trademarks and trade names
Intangible assets not subject to amortization:
Indefinite-lived intangible assets (excluding goodwill)	1,309.8	1,309.8		1,576.8
Customer relationships
Intangible assets subject to amortization:
Gross Carrying Amount	100.5	100.5		100.6
Accumulated amortization	(29.2)	(29.2)		(24.0)
Total	71.3	71.3		76.6
Favorable lease rights
Intangible assets subject to amortization:
Gross Carrying Amount	0.0	0.0		93.1
Accumulated amortization	0.0	0.0		(34.6)
Total	0.0	0.0		$ 58.5
Stuart Weitzman \| Trademarks and trade names
Intangible assets not subject to amortization:
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 267.0	$ 267.0

Goodwill and Other Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Millions	Mar. 28, 2020	Jun. 29, 2019
Expected Amortization Expense For Intangible Assets
Remainder of fiscal 2020	$ 1.1
Fiscal 2021	6.5
Fiscal 2022	6.5
Fiscal 2023	6.5
Fiscal 2024	6.5
Fiscal 2025	6.5
Fiscal 2026 and thereafter	37.7
Total	$ 71.3	$ 135.1

Stockholders' Equity (Schedule of Stockholders' Equity) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Mar. 28, 2020	Mar. 30, 2019	Jun. 30, 2019	Jul. 01, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)			286.8				286.8
Beginning balance	$ 3,322.4	$ 3,086.9	$ 3,513.4	$ 3,488.4	$ 3,309.6	$ 3,244.6	$ 3,513.4	$ 3,244.6
Net income (loss)	(677.1)	298.8	20.0	117.4	254.8	122.3	$ (358.3)	494.5
Other comprehensive income (loss)	(11.7)	11.0	(12.8)	1.0	(3.4)	(5.3)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	(0.5)	2.1	(14.5)	(1.2)	3.7	3.2
Share-based compensation	13.2	16.8	26.8	23.5	21.5	22.4
Repurchase of common stock			(300.0)
Dividends declared	$ (93.2)	(93.2)	(97.1)	(97.9)	(97.8)	(97.8)
Cumulative adjustment from adoption of new accounting standard									$ (48.9)	$ 20.2
Ending balance (shares)	276.1						276.1
Ending balance	$ 2,553.1	$ 3,322.4	$ 3,086.9	$ 3,531.2	$ 3,488.4	$ 3,309.6	$ 2,553.1	$ 3,531.2
Cash dividends declared per common share (USD per share)	$ 0.3375	$ 0.3375	$ 0.3375	$ 0.3375	$ 0.3375	$ 0.3375	$ 1.0125	$ 1.0125
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)	276.0	275.9	286.8	290.0	289.8	288.0	286.8	288.0
Beginning balance	$ 2.8	$ 2.8	$ 2.9	$ 2.9	$ 2.9	$ 2.9	$ 2.9	$ 2.9
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes (shares)	0.1	0.1	1.0	0.1	0.2	1.8
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes				$ 0.0
Repurchase of common stock (in shares)			(11.9)
Repurchase of common stock			$ (0.1)
Ending balance (shares)	276.1	276.0	275.9	290.1	290.0	289.8	276.1	290.1
Ending balance	$ 2.8	$ 2.8	$ 2.8	$ 2.9	$ 2.9	$ 2.9	$ 2.8	$ 2.9
Additional Paid-in- Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3,333.3	3,314.4	3,302.1	3,256.3	3,231.1	3,205.5	3,302.1	3,205.5
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	(0.5)	2.1	(14.5)	(1.2)	3.7	3.2
Share-based compensation	13.2	16.8	26.8	23.5	21.5	22.4
Ending balance	3,346.0	3,333.3	3,314.4	3,278.6	3,256.3	3,231.1	3,346.0	3,278.6
Retained Earnings / (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	71.3	(134.3)	291.6	320.7	163.7	119.0	291.6	119.0
Net income (loss)	(677.1)	298.8	20.0	117.4	254.8	122.3
Repurchase of common stock			(299.9)
Dividends declared	(93.2)	(93.2)	(97.1)	(97.9)	(97.8)	(97.8)
Cumulative adjustment from adoption of new accounting standard									$ (48.9)	$ 20.2
Ending balance	(699.0)	71.3	(134.3)	340.2	320.7	163.7	(699.0)	340.2
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(85.0)	(96.0)	(83.2)	(91.5)	(88.1)	(82.8)	(83.2)	(82.8)
Other comprehensive income (loss)	(11.7)	11.0	(12.8)	1.0	(3.4)	(5.3)
Ending balance	$ (96.7)	$ (85.0)	$ (96.0)	$ (90.5)	$ (91.5)	$ (88.1)	$ (96.7)	$ (90.5)

Stockholders' Equity (AOCI) (Details) - USD ($)	3 Months Ended		9 Months Ended
Stockholders' Equity (AOCI) (Details) - USD ($)	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	$ 3,322,400,000	$ 3,488,400,000	$ 3,513,400,000	$ 3,244,600,000
Other comprehensive income (loss) before reclassifications			(20,000,000.0)	(5,400,000)
Less: amounts reclassified from accumulated other comprehensive income to earnings			(6,500,000)	2,300,000
Other comprehensive income (loss), net of tax	(11,700,000)	1,000,000.0	(13,500,000)	(7,700,000)
Ending balance	2,553,100,000	3,531,200,000	2,553,100,000	3,531,200,000
Amounts reclassified from AOCI, tax			4,100,000	(1,500,000)
Unrealized (Losses) Gains on Cash Flow Hedging Derivatives
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance			(4,500,000)	1,400,000
Other comprehensive income (loss) before reclassifications			(1,700,000)	(400,000)
Less: amounts reclassified from accumulated other comprehensive income to earnings			(8,200,000)	2,300,000
Other comprehensive income (loss), net of tax			6,500,000	(2,700,000)
Ending balance	2,000,000.0	(1,300,000)	2,000,000.0	(1,300,000)
Other comprehensive income (loss)			(400,000)	0.0
Unrealized Gains (Losses) on Available- for-Sale Investments
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance			(500,000)	0
Other comprehensive income (loss) before reclassifications			0	200,000
Less: amounts reclassified from accumulated other comprehensive income to earnings			0	0
Other comprehensive income (loss), net of tax			0	200,000
Ending balance	(500,000)	200,000	(500,000)	200,000
Cumulative Translation Adjustment
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance			(79,900,000)	(85,300,000)
Other comprehensive income (loss) before reclassifications			(18,300,000)	(5,200,000)
Less: amounts reclassified from accumulated other comprehensive income to earnings			0	0
Other comprehensive income (loss), net of tax			(18,300,000)	(5,200,000)
Ending balance	(98,200,000)	(90,500,000)	(98,200,000)	(90,500,000)
Other
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance			1,700,000	1,100,000
Other comprehensive income (loss) before reclassifications			0	0
Less: amounts reclassified from accumulated other comprehensive income to earnings			1,700,000	0
Other comprehensive income (loss), net of tax			(1,700,000)	0
Ending balance	0	1,100,000	0	1,100,000
Other comprehensive income (loss)			0	(600,000)
Total
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Rollforward]
Beginning balance	(85,000,000.0)	(91,500,000)	(83,200,000)	(82,800,000)
Ending balance	$ (96,700,000)	$ (90,500,000)	$ (96,700,000)	$ (90,500,000)

Leases (Details) $ in Millions	9 Months Ended
Leases (Details) $ in Millions	Mar. 28, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Lessor, operating lease, lease not yet commenced (approximately)	$ 3.3
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	1 year
Lessee, operating lease, renewal term or early termination option	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Lessee, operating lease, renewal term or early termination option	10 years

Leases (Right Of Use Assets and Lease Liability) (Details) - USD ($) $ in Millions	Mar. 28, 2020	Jun. 30, 2019
ASSETS
Operating lease right-of-use assets	$ 1,970.9	$ 2,133.7
Finance leases	3.4
Total lease assets	1,974.3
Operating leases:
Current portion of operating lease liabilities	353.4	362.3
Long-term operating lease liabilities	1,897.3	$ 1,961.6
Total operating lease liabilities	2,250.7
Finance leases:
Current lease liabilities	0.8
Long-term lease liabilities	4.7
Total finance lease liabilities	5.5
Total lease liabilities	$ 2,256.2

Leases (Costs) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Leases (Costs) (Details) - USD ($) $ in Millions	Mar. 28, 2020	Mar. 28, 2020
Leases [Abstract]
Amortization of right-of-use assets	$ 0.2	$ 0.6
Interest on lease liabilities	0.2	0.5
Total finance lease cost	0.4	1.1
Operating lease cost	107.3	324.6
Short-term lease cost	3.5	7.1
Variable lease cost	39.6	151.7
Operating lease right-of-use impairment	27.9	63.7
Less: sublease income	(4.5)	(15.2)
Total net lease cost	$ 174.2	$ 533.0

Leases (Cash Flow) (Details) - USD ($) $ in Millions	9 Months Ended
Leases (Cash Flow) (Details) - USD ($) $ in Millions	Mar. 28, 2020	Mar. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 322.8
Operating cash flows from finance leases	0.5
Financing cash flows from finance leases	0.6	$ 0.6
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	184.7
Right-of-use assets obtained in exchange for finance lease liabilities	$ 0.0

Leases (Maturity 842) (Details) $ in Millions	Mar. 28, 2020 USD ($)
Operating Leases
Remainder of Fiscal 2020	$ 106.4
Fiscal 2021	413.7
Fiscal 2022	371.9
Fiscal 2023	326.6
Fiscal 2024	276.5
Fiscal 2025 and thereafter	1,199.5
Total lease payments	2,694.6
Less: imputed interest	(443.9)
Total operating lease liabilities	2,250.7
Finance Leases
Remainder of Fiscal 2020	0.4
Fiscal 2021	1.4
Fiscal 2022	1.4
Fiscal 2023	1.4
Fiscal 2024	1.4
Fiscal 2025 and thereafter	1.3
Total lease payments	7.3
Less: imputed interest	(1.8)
Total finance lease liabilities	5.5
Total
Remainder of Fiscal 2020	106.8
Fiscal 2021	415.1
Fiscal 2022	373.3
Fiscal 2023	328.0
Fiscal 2024	277.9
Fiscal 2025 and thereafter	1,200.8
Total lease payments	2,701.9
Less: imputed interest	(445.7)
Total lease liabilities	$ 2,256.2

Leases (Sublease Income) (Details) $ in Millions	Mar. 28, 2020 USD ($)
Leases [Abstract]
Remainder of Fiscal 2020	$ 5.2
Fiscal 2021	21.0
Fiscal 2022	19.9
Fiscal 2023	15.9
Fiscal 2024	15.5
Fiscal 2025 and thereafter	187.5
Total sublease income	$ 265.0

Leases (Weighted Averages) (Details)	Mar. 28, 2020
Weighted average remaining lease term (years):
Operating leases	8 years 8 months 19 days
Finance leases	5 years 2 months 4 days
Weighted average discount rate:
Operating leases	3.70%
Finance leases	11.30%

Leases (Future Minimum Rental Payments) (Details) $ in Millions	Jun. 29, 2019 USD ($)
Leases [Abstract]
2020	$ 399.0
2021	341.5
2022	308.2
2023	270.4
2024	226.5
Subsequent to 2024	1,065.7
Total minimum future rental payments	$ 2,611.3

Earnings per Share (Reconciliation of Weighted Average Shares Outstanding and Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Mar. 28, 2020	Mar. 30, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ (677.1)	$ 298.8	$ 20.0	$ 117.4	$ 254.8	$ 122.3	$ (358.3)	$ 494.5
Weighted-average basic shares (shares)	276.1			290.0			279.4	289.5
Effect of dilutive securities (shares)	0.5			0.9			0.8	1.7
Weighted-average diluted shares (shares)	276.6			290.9			280.2	291.2
Net income per share:
Basic (USD per share)	$ (2.45)			$ 0.40			$ (1.28)	$ 1.71
Diluted (USD per share)	$ (2.45)			$ 0.40			$ (1.28)	$ 1.70

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Earnings Per Share (Anti-Dilutive Impact on Diluted Earnings per Share) (Details) - shares shares in Millions	9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019
Earnings Per Share [Abstract]
Shares excluded from diluted share calculations (shares)	13.0	11.3

Share-based Compensation (Total Compensation Cost and Related Tax Benefits) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 13.2	$ 23.5	$ 56.8	$ 67.4
Income tax benefit related to share-based compensation expense	$ 2.9	4.4	11.8	12.6
Integration
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 1.2	$ 9.8	$ 2.0

Share-based Compensation (Summary of Option Activity) (Details) - Stock Options shares in Millions	9 Months Ended
	Mar. 28, 2020 shares
Number of Options Outstanding
Beginning balance (shares)	12.4
Granted (shares)	5.4
Exercised (shares)	0.0
Forfeited or expired (shares)	(0.8)
Ending balance (shares)	17.0

Share-based Compensation (Narrative) (Details) - $ / shares	9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019
Stock Options
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted-average grant-date fair value of awards granted (USD per share)	$ 3.83	$ 9.77
Service-based Restricted Stock Unit Awards (RSU)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted-average grant-date fair value of awards granted (USD per share)	21.34	49.87
Performance-based Restricted Stock Unit Awards (PRSU)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted-average grant-date fair value of awards granted (USD per share)	$ 21.30	$ 50.35

Share-based Compensation (Weighted-average Assumptions) (Details) - Stock Options	9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years 1 month 6 days	5 years
Expected volatility	37.60%	30.30%
Risk-free interest rate	1.50%	3.10%
Dividend yield	6.40%	3.10%

Share-based Compensation (Summary of Non-vested Service-Based Restricted Stock Unit Activity) (Details) - Service-based Restricted Stock Unit Awards (RSU) shares in Millions	9 Months Ended
	Mar. 28, 2020 shares
Number of Non-vested RSUs
Beginning balance (shares)	3.3
Granted (shares)	4.0
Vested (shares)	(1.4)
Forfeited (shares)	(0.5)
Ending balance (shares)	5.4

Share-based Compensation (Summary of Non-vested Performance-based Restricted Stock Unit) (Details) - Performance-based Restricted Stock Unit Awards (PRSU) shares in Millions	9 Months Ended
	Mar. 28, 2020 shares
Number of Non-vested PRSUs
Beginning balance (shares)	0.9
Granted (shares)	0.6
Change due to performance condition achievement (shares)	0.0
Vested (shares)	(0.3)
Forfeited (shares)	(0.1)
Ending balance (shares)	1.1

Debt (Summary of Debt) (Details) - USD ($) $ in Millions	Mar. 28, 2020	Jun. 30, 2019	Jun. 29, 2019	Jun. 20, 2017	Mar. 02, 2015
Current debt:
Current debt	$ 11.5	$ 0.0	$ 0.8
Long-term debt:
Long-term debt	1,600.0		1,616.7
Less: Unamortized discount and debt issuance costs on Senior Notes	(12.8)		(14.8)
Total long-term debt, net	1,587.2	$ 1,596.6	1,601.9
Senior Notes \| 4.250% Senior Notes due 2025
Long-term debt:
Long-term debt	$ 600.0		600.0
Interest rate, stated percentage	4.25%				4.25%
Senior Notes \| 3.000% Senior Notes due 2022
Long-term debt:
Long-term debt	$ 400.0		400.0
Interest rate, stated percentage	3.00%			3.00%
Senior Notes \| 4.125% Senior Notes due 2027
Long-term debt:
Long-term debt	$ 600.0		600.0
Interest rate, stated percentage	4.125%			4.125%
Note Payable
Current debt:
Current debt	$ 11.5		0.0
Long-term debt:
Long-term debt	0.0		11.4
Capital Lease Obligations
Current debt:
Current debt	0.0		0.8
Long-term debt:
Long-term debt	$ 0.0		$ 5.3

Debt (Narrative) (Details) - USD ($)				3 Months Ended		9 Months Ended
Debt (Narrative) (Details) - USD ($)	Oct. 24, 2019	Jun. 20, 2017	Mar. 02, 2015	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019	Mar. 30, 2020	Jun. 30, 2019	Jun. 29, 2019
Debt Instrument [Line Items]
Interest expense				$ 16,700,000	$ 16,700,000	$ 50,200,000	$ 50,100,000
Long-term debt				1,587,200,000		1,587,200,000			$ 1,596,600,000	$ 1,601,900,000
Corporate Joint Venture \| Kate Spade Joint Ventures
Debt Instrument [Line Items]
Notes payable				$ 11,500,000		$ 11,500,000				11,400,000
Senior Notes \| 4.250% Senior Notes due 2025
Debt Instrument [Line Items]
Debt instrument, face amount			$ 600,000,000.0
Interest rate, stated percentage			4.25%	4.25%		4.25%
Debt instrument, issuance amount, percent of par			99.445%
Long-term debt, maturities, redemption period before maturity			90 days
Debt instrument, redemption price, percentage			100.00%
Senior Notes \| 4.250% Senior Notes due 2025 \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value				$ 556,700,000		$ 556,700,000				629,600,000
Senior Notes \| 4.250% Senior Notes due 2025 \| Adjusted Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.35%
Senior Notes \| 3.000% Senior Notes due 2022
Debt Instrument [Line Items]
Debt instrument, face amount		$ 400,000,000.0
Interest rate, stated percentage		3.00%		3.00%		3.00%
Debt instrument, issuance amount, percent of par		99.505%
Debt instrument, redemption price, percentage		100.00%
Senior Notes \| 3.000% Senior Notes due 2022 \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value				$ 388,500,000		$ 388,500,000				398,600,000
Senior Notes \| 3.000% Senior Notes due 2022 \| Adjusted Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.25%
Senior Notes \| 4.125% Senior Notes due 2027
Debt Instrument [Line Items]
Debt instrument, face amount		$ 600,000,000.0
Interest rate, stated percentage		4.125%		4.125%		4.125%
Debt instrument, issuance amount, percent of par		99.858%
Debt instrument, redemption price, percentage		100.00%
Senior Notes \| 4.125% Senior Notes due 2027 \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value				$ 474,200,000		$ 474,200,000				$ 605,500,000
Senior Notes \| 4.125% Senior Notes due 2027 \| Adjusted Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.30%
Revolving Facility \| Revolving Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 900,000,000
Long-term debt				$ 0		$ 0
Revolving Facility \| Revolving Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Facility \| Revolving Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Subsequent Event \| Revolving Facility \| Revolving Facility
Debt Instrument [Line Items]
Long-term debt								$ 700,000,000

Fair Value Measurements (Assets and Liabilities) (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 28, 2020	Jun. 29, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity of time deposit (less then)	3 months
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 293.6	$ 454.3
Level 1 \| Inventory-related instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Derivative liability	0.0	0.0
Level 1 \| Intercompany loan and payables hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0.0	0.0
Derivative liability	0.0	0.0
Level 1 \| Short-term Investments \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 1 \| Short-term Investments \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 1 \| Short-term Investments \| Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	102.6
Level 1 \| Short-term Investments \| Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 1 \| Short-term Investments \| Corporate debt securities - non U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 1 \| Short-term Investments \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 1 \| Long-term investments \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.3	0.4
Level 2 \| Inventory-related instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	4.7	1.1
Derivative liability	2.5	4.9
Level 2 \| Intercompany loan and payables hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2.0	0.0
Derivative liability	2.4	0.1
Level 2 \| Short-term Investments \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.6	0.6
Level 2 \| Short-term Investments \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	17.9
Level 2 \| Short-term Investments \| Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 2 \| Short-term Investments \| Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	102.2	95.8
Level 2 \| Short-term Investments \| Corporate debt securities - non U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	42.9	37.3
Level 2 \| Short-term Investments \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	9.9	10.4
Level 2 \| Long-term investments \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0.1	$ 0.1

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 28, 2020	Mar. 28, 2020	Mar. 30, 2019
Property, Plant and Equipment [Line Items]
Impairment charges		$ 210.7
Impairment charges		697.6	$ 0.0
Store Assets
Property, Plant and Equipment [Line Items]
Impairment charges	$ 46.7	86.5
Operating Lease Right-of-use Assets
Property, Plant and Equipment [Line Items]
Impairment charges	27.9	63.7
Stuart Weitzman
Property, Plant and Equipment [Line Items]
Impairment charges		210.7
Trademarks and trade names \| Stuart Weitzman
Property, Plant and Equipment [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 267.0	$ 267.0

Investments (Summary of Investments) (Details) - USD ($) $ in Millions	Mar. 28, 2020	Jun. 29, 2019
Schedule of Investments [Line Items]
Short-term investments	$ 145.1	$ 253.6
Long-term investments	0.0	0.0
Investments	145.1	253.6
Cash and cash equivalents	742.6	969.2
Other short-term investments	9.9	10.4
Other long-term investments	0.1	0.1
Other investments	10.0	10.5
Cash, cash equivalents, and short-term investments	155.6	264.6
Cash, cash equivalents, and long-term Investments	0.1	0.1
Cash, cash equivalents, and investments	155.7	264.7
Time deposits
Schedule of Investments [Line Items]
Cash and cash equivalents	0.6	0.6
Commercial paper
Schedule of Investments [Line Items]
Short-term investments	0.0	17.9
Long-term investments	0.0	0.0
Investments	0.0	17.9
Government securities - U.S.
Schedule of Investments [Line Items]
Short-term investments	0.0	102.6
Long-term investments	0.0	0.0
Investments	0.0	102.6
Corporate debt securities - U.S.
Schedule of Investments [Line Items]
Short-term investments	102.2	95.8
Long-term investments	0.0	0.0
Investments	102.2	95.8
Corporate debt securities - non U.S.
Schedule of Investments [Line Items]
Short-term investments	42.9	37.3
Long-term investments	0.0	0.0
Investments	$ 42.9	$ 37.3

Investments (Narrative) (Details) - USD ($)	9 Months Ended
Investments (Narrative) (Details) - USD ($)	Mar. 28, 2020	Jun. 29, 2019
Investments, Debt and Equity Securities [Abstract]
Maturity of time deposit (greater then)	3 months
Available-for-sale investments, gross unrealized gain (loss)	$ 0	$ 0

Income Taxes (Narrative) (Details)	9 Months Ended
Income Taxes (Narrative) (Details)	Mar. 28, 2020	Mar. 30, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	(10.80%)	18.60%

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Mar. 28, 2020	Jun. 29, 2019
Commitments and Contingencies Disclosure [Abstract]
Standby letters of credit and bank guarantees	$ 33.2	$ 34.5

Segment Information (Narrative) (Details)	9 Months Ended
Segment Information (Narrative) (Details)	Mar. 28, 2020 segment
Segment Reporting [Abstract]
Reportable segments	3

Segment Information (Summary of Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 28, 2020	Mar. 30, 2019	Mar. 28, 2020	Mar. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 1,072.7	$ 1,331.4	$ 4,246.6	$ 4,513.4
Gross profit	616.2	915.9	2,740.4	3,054.5
Operating income (loss)	(685.5)	109.8	(270.8)	648.6
Income (loss) before provision for income taxes	(705.0)	95.2	(323.4)	607.3
Depreciation and amortization expense	585.2	63.6	750.2	191.1
Additions to long-lived assets	50.7	67.8	172.9	184.2
Impairment charges			697.6	0.0
Corporate
Segment Reporting Information [Line Items]
Net sales	0.0	0.0	0.0	0.0
Gross profit	0.0	0.0	0.0	0.0
Operating income (loss)	(101.6)	(122.1)	(320.2)	(318.0)
Income (loss) before provision for income taxes	(121.1)	(136.7)	(372.8)	(359.3)
Depreciation and amortization expense	13.6	12.8	39.8	36.5
Additions to long-lived assets	7.0	30.6	38.9	71.3
Coach
Segment Reporting Information [Line Items]
Net sales	772.5	965.0	3,008.3	3,174.3
Impairment charges	11.9		31.4
Coach \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	772.5	965.0	3,008.3	3,174.3
Gross profit	475.7	691.7	2,030.6	2,231.5
Operating income (loss)	38.1	238.9	620.4	848.4
Income (loss) before provision for income taxes	38.1	238.9	620.4	848.4
Depreciation and amortization expense	42.0	31.8	121.1	98.9
Additions to long-lived assets	21.5	17.3	66.2	50.6
Kate Spade
Segment Reporting Information [Line Items]
Net sales	249.5	281.1	985.4	1,034.9
Depreciation and amortization expense		0.1	0.2	1.3
Impairment charges	21.0		33.0
Kate Spade \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	249.5	281.1	985.4	1,034.9
Gross profit	122.5	177.9	576.4	658.0
Operating income (loss)	(91.3)	7.1	(30.6)	140.1
Income (loss) before provision for income taxes	(91.3)	7.1	(30.6)	140.1
Depreciation and amortization expense	42.1	14.7	84.1	43.3
Additions to long-lived assets	19.2	15.2	54.5	53.8
Stuart Weitzman
Segment Reporting Information [Line Items]
Impairment charges	482.4		490.7
Stuart Weitzman \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	50.7	85.3	252.9	304.2
Gross profit	18.0	46.3	133.4	165.0
Operating income (loss)	(530.7)	(14.1)	(540.4)	(21.9)
Income (loss) before provision for income taxes	(530.7)	(14.1)	(540.4)	(21.9)
Depreciation and amortization expense	487.5	4.3	505.2	12.4
Additions to long-lived assets	3.0	$ 4.7	13.3	$ 8.5
Cost of Sales \| Coach
Segment Reporting Information [Line Items]
Inventory reserves	61.9		61.9
Cost of Sales \| Kate Spade
Segment Reporting Information [Line Items]
Inventory reserves	32.3		32.3
Cost of Sales \| Stuart Weitzman
Segment Reporting Information [Line Items]
Inventory reserves	$ 9.8		$ 9.8

Subsequent Events (Details)	9 Months Ended
Subsequent Events (Details)	Mar. 28, 2020 USD ($) part-time_store_associate	Mar. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 29, 2019 USD ($)
Subsequent Event [Line Items]
Long-term debt	$ 1,587,200,000		$ 1,596,600,000	$ 1,601,900,000
Number of part-time store associates terminated \| part-time_store_associate	2,100
Revolving Facility \| Revolving Facility
Subsequent Event [Line Items]
Long-term debt	$ 0
Subsequent Event \| Revolving Facility \| Revolving Facility
Subsequent Event [Line Items]
Long-term debt		$ 700,000,000