0001116132-22-000018 | 10-K | XBRL Viewer

Audit Information	12 Months Ended
Audit Information	Jul. 02, 2022
Auditor Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Firm ID	34
Auditor Location	New York, New York

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Current Assets:
Cash and cash equivalents	$ 789.8	$ 2,007.7
Short-term investments	163.4	8.1
Trade accounts receivable, less allowances for credit losses of $3.7 and $4.2, respectively	252.3	200.2
Inventories	994.2	734.8
Income tax receivable	217.2	254.6
Prepaid expenses	105.2	93.8
Other current assets	51.7	76.1
Total current assets	2,573.8	3,375.3
Property and equipment, net	544.4	678.1
Operating lease right-of-use assets	1,281.6	1,496.6
Goodwill	1,241.5	1,297.3
Intangible assets	1,366.6	1,373.4
Deferred income taxes – noncurrent asset	47.9	65.6
Other assets	209.5	96.1
Total assets	7,265.3	8,382.4
Current Liabilities:
Accounts payable	520.7	445.2
Accrued liabilities	628.2	661.2
Current portion of operating lease liabilities	288.7	319.4
Current debt	31.2	0.0
Total current liabilities	1,468.8	1,425.8
Long-term debt	1,659.2	1,590.7
Long-term operating lease liabilities	1,282.3	1,525.9
Deferred income taxes	221.7	203.9
Long-term income taxes payable	95.3	127.1
Other liabilities	252.5	249.7
Total liabilities	4,979.8	5,123.1
See Note 13 on commitments and contingencies
Stockholders’ Equity:
Preferred stock: (authorized 25.0 million shares; $0.01 par value) none issued	0.0	0.0
Common stock: (authorized 1.0 billion shares; $0.01 par value) issued and outstanding – 241.2 million and 279.5 million shares, respectively	2.4	2.8
Additional paid-in-capital	3,620.2	3,487.0
Retained earnings (accumulated deficit)	(1,166.2)	(158.5)
Accumulated other comprehensive income (loss)	(170.9)	(72.0)
Total stockholders’ equity	2,285.5	3,259.3
Total liabilities and stockholders’ equity	$ 7,265.3	$ 8,382.4

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances for credit losses	$ 3.7	$ 4.2
Preferred stock, authorized (shares)	25,000,000.0	25,000,000.0
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, issued (shares)	0	0
Common stock, authorized (shares)	1,000,000,000.0	1,000,000,000.0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, issued (shares)	241,200,000	279,500,000
Common stock, outstanding (shares)	241,200,000	279,500,000

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Income Statement [Abstract]
Net sales	$ 6,684,500,000	$ 5,746,300,000	$ 4,961,400,000
Cost of sales	2,034,100,000	1,664,400,000	1,722,100,000
Gross profit	4,650,400,000	4,081,900,000	3,239,300,000
Other selling, general and administrative expenses	3,474,600,000	3,113,900,000	3,312,400,000
Impairment of goodwill and intangible assets	0	0	477,700,000
Operating income (loss)	1,175,800,000	968,000,000.0	(550,800,000)
Loss on extinguishment of debt	53,700,000	0	0
Interest expense, net	58,700,000	71,400,000	60,100,000
Other expense (income)	16,400,000	(700,000)	13,300,000
Income (loss) before provision for income taxes	1,047,000,000	897,300,000	(624,200,000)
Provision for income taxes	190,700,000	63,100,000	27,900,000
Net income (loss)	$ 856,300,000	$ 834,200,000	$ (652,100,000)
Net income (loss) per share:
Basic (USD per share)	$ 3.24	$ 3.00	$ (2.34)
Diluted (USD per share)	$ 3.17	$ 2.95	$ (2.34)
Shares used in computing net income (loss) per share:
Basic (shares)	264.3	277.9	278.6
Diluted (shares)	270.1	283.0	278.6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 856.3	$ 834.2	$ (652.1)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on cash flow hedging derivatives, net	(1.6)	(1.8)	5.6
Unrealized gains (losses) on available-for-sale investments, net	(0.5)	0.0	0.5
Change in pension liability, net	0.0	0.0	(1.7)
Foreign currency translation adjustments	(96.8)	22.0	(13.4)
Other comprehensive income (loss), net of tax	(98.9)	20.2	(9.0)
Comprehensive income (loss)	$ 757.4	$ 854.4	$ (661.1)

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in-Capital	Retained Earnings / (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Cumulative adjustment from adoption of new accounting standards	Cumulative adjustment from adoption of new accounting standards Retained Earnings / (Accumulated Deficit)
Beginning balance (shares) at Jun. 29, 2019		286.8
Beginning balance at Jun. 29, 2019	$ 3,513.4	$ 2.9	$ 3,302.1	$ 291.6	$ (83.2)	$ (48.8)	$ (48.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(652.1)			(652.1)
Other comprehensive income (loss)	(9.0)				(9.0)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes (shares)		1.3
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	(10.5)		(10.5)
Share-based compensation	66.9		66.9
Repurchase and retirement of common stock (shares)		(11.9)
Repurchase and retirement of common stock	(300.0)	$ (0.1)		(299.9)
Dividends declared	(283.5)			(283.5)
Ending balance (shares) at Jun. 27, 2020		276.2
Ending balance at Jun. 27, 2020	2,276.4	$ 2.8	3,358.5	(992.7)	(92.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	834.2			834.2
Other comprehensive income (loss)	20.2				20.2
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes (shares)		3.3
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	53.6		53.6
Share-based compensation	74.9		74.9
Ending balance (shares) at Jul. 03, 2021		279.5
Ending balance at Jul. 03, 2021	3,259.3	$ 2.8	3,487.0	(158.5)	(72.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	856.3			856.3
Other comprehensive income (loss)	(98.9)				(98.9)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes (shares)		3.7
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	43.8		43.8
Share-based compensation	89.4		89.4
Repurchase of common stock (shares)		(42.0)
Repurchase of common stock	(1,600.0)	$ (0.4)		(1,599.6)
Dividends declared	(264.4)			(264.4)
Ending balance (shares) at Jul. 02, 2022		241.2
Ending balance at Jul. 02, 2022	$ 2,285.5	$ 2.4	$ 3,620.2	$ (1,166.2)	$ (170.9)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Jul. 02, 2022	Jun. 27, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared (USD per share)	$ 1.000	$ 1.013

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES
Net income (loss)	$ 856.3	$ 834.2	$ (652.1)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	195.3	218.7	248.3
Covid-19 related impairment charges	0.0	45.8	813.5
Provision for bad debt	19.9	2.8	26.0
Loss on extinguishment of debt	53.7	0.0	0.0
Share-based compensation	72.2	64.1	53.1
Acceleration program charges	14.8	5.1	24.8
Integration and restructuring activities	0.0	0.0	14.0
Deferred income taxes	29.9	52.6	(115.7)
Changes to lease related balances, net	(53.4)	(125.6)	73.1
Gain on sale of building	0.0	(13.2)	0.0
Gain on deferred purchase price	0.0	(12.5)	0.0
Other non-cash charges, net	31.3	21.4	2.3
Changes in operating assets and liabilities:
Trade accounts receivable	(96.0)	(9.6)	61.9
Inventories	(311.7)	32.2	(58.6)
Other liabilities	(9.2)	(16.8)	(37.8)
Accounts payable	86.4	307.3	(91.7)
Accrued liabilities	(16.1)	140.3	7.6
Other assets	(20.2)	(223.1)	38.3
Net cash provided by operating activities	853.2	1,323.7	407.0
CASH FLOWS (USED IN) PROVIDED BY INVESTING ACTIVITIES
Purchases of property and equipment	(93.9)	(116.0)	(205.4)
Purchases of investments	(540.4)	(0.7)	(212.4)
Proceeds from maturities and sales of investments	380.7	1.8	462.1
Proceeds from sale of building	0.0	23.9	0.0
Net cash (used in) provided by investing activities	(253.6)	(91.0)	44.3
CASH FLOWS (USED IN) PROVIDED BY FINANCING ACTIVITIES
Payment of dividends	(264.4)	0.0	(380.3)
Repurchase of common stock	(1,600.0)	0.0	(300.0)
Proceeds from revolver	0.0	0.0	700.0
Proceeds from debt, net of discount	998.5	0.0	0.0
Payment of initial debt costs	(4.6)	0.0	0.0
Payment of debt extinguishment costs	(50.7)	0.0	0.0
Repayment of debt	(900.0)	(11.5)	0.0
Proceeds from share-based awards	74.7	61.2	4.3
Repayment of revolving credit facility	0.0	(700.0)	0.0
Taxes paid to net settle share-based awards	(30.6)	(7.5)	(14.9)
Other financing activity	(1.0)	(8.2)	(3.2)
Net cash (used in) provided by financing activities	(1,778.1)	(666.0)	5.9
Effect of exchange rate changes on cash and cash equivalents	(39.4)	14.7	(0.1)
(Decrease) increase in cash and cash equivalents	(1,217.9)	581.4	457.1
Cash and cash equivalents at beginning of year	2,007.7	1,426.3	969.2
Cash and cash equivalents at end of year	789.8	2,007.7	1,426.3
Supplemental information:
Cash paid for income taxes, net	179.7	251.8	87.2
Cash paid for interest	67.8	69.7	68.1
Non-cash investing activity – property and equipment obligations	$ 6.7	$ 14.4	$ 21.1

Nature of Operations	12 Months Ended
Nature of Operations	Jul. 02, 2022
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 accessible luxury accessories and lifestyle brands. Our global house of brands unites the magic of Coach, kate spade new york and Stuart Weitzman. Each of our brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies. We use our collective strengths to move our customers and empower our communities, to make the fashion industry more sustainable, and to build a company that’s equitable, inclusive, and diverse. Individually, our brands are iconic. Together, we can stretch what’s possible. The Coach segment includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites 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 e-commerce sites, 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 e-commerce sites, sales to wholesale customers and through numerous independent third party distributors.

Basis of Presentation and Organization	12 Months Ended
Basis of Presentation and Organization	Jul. 02, 2022
Accounting Policies [Abstract]
Basis of Presentation and Organization	BASIS OF PRESENTATION AND ORGANIZATION Fiscal Year The Company’s fiscal year ends on the Saturday closest to June 30. Unless otherwise stated, references to years in the financial statements relate to fiscal years. The fiscal year ended July 2, 2022 (“fiscal 2022”) was a 52-week period. The fiscal year ended July 3, 2021 (“fiscal 2021”) was a 53-week period and the fiscal year ended June 27, 2020 (“fiscal 2020”) was a 52-week period. The fiscal year ending July 1, 2023 (“fiscal 2023”) will be a 52-week period. Covid-19 Pandemic The outbreak of a novel strain of coronavirus ("Covid-19") continues to impact a significant majority of the regions in which we operate, resulting in significant global business disruptions. The widespread impact of Covid-19 resulted in temporary closures of directly operated stores globally, as well as at our wholesale and licensing partners starting in fiscal 2020. Since then, certain directly operated stores and the stores of our wholesale and licensing partners have experienced temporary re-closures or are operating under tighter restrictions in compliance with local government regulation. Covid-19 has also resulted in ongoing supply chain challenges, such as logistic constraints, the temporary closure of certain third-party manufacturers and increased freight costs. The global Covid-19 pandemic is continuously 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 cannot be predicted, including the ultimate duration, severity and geographic resurgence of the virus and the success of actions to contain the virus, including variants of the novel strain, or treat its impact, among others. As the full magnitude of the effects on the Company's business is difficult to predict, the Covid-19 pandemic has and may 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. 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. Starting in fiscal 2020, in response to the Covid-19 pandemic, the Company took actions to reinforce its liquidity and financial flexibility. If stores are required to close again for an extended period of time due to a resurgence of increased infections, the Company's liquidity may be negatively impacted. Refer to Part I, Item 1A. "Risk Factors" herein. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the 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 consolidated financial statements include reserves for the realizability of inventory; asset retirement obligations; customer returns, end-of-season markdowns and operational chargebacks; useful lives and impairments of long-lived tangible and intangible assets; accounting for income taxes 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. Principles of Consolidation The 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. Share Repurchases The Company accounts for stock repurchases by allocating the repurchase price to common stock and retained earnings. Under Maryland law, the Company's state of incorporation, there are no treasury shares. All repurchased shares are authorized but unissued shares and these shares may be issued in the future for general corporate and other purposes. The Company may terminate or limit the stock repurchase program at any time. 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 purchase agreements under Rule 10b5-1.

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Jul. 02, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents Cash and cash equivalents consist of cash balances and highly liquid investments with a maturity of three months or less at the date of purchase. Investments Short-term investments consist primarily of high-credit quality U.S. and non-U.S. issued corporate debt securities, and U.S. Treasuries and government agency securities with original maturities greater than three months and with maturities within one year of balance sheet date, classified as available-for-sale. Long-term investments typically consist of high-credit quality U.S. and non-U.S. issued corporate debt securities, U.S. Treasuries and government agency securities, classified as available-for-sale, and recorded at fair value, with unrealized gains and losses recorded in other comprehensive income. Dividend and interest income are recognized when earned. Additionally, GAAP requires the consolidation of all entities for which a Company has a controlling voting interest and all variable interest entities (“VIEs”) for which a Company is deemed to be the primary beneficiary. An entity is generally a VIE if it meets any of the following criteria: (i) the entity has insufficient equity to finance its activities without additional subordinated financial support from other parties, (ii) the equity investors cannot make significant decisions about the entity’s operations or (iii) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity or receive the expected returns of the entity and substantially all of the entity’s activities involve or are conducted on behalf of the investor with disproportionately few voting rights. Concentration of Credit Risk Financial instruments that potentially expose the Company to concentration of credit risk consist primarily of Cash and cash equivalents, investments and accounts receivable. The Company places its cash investments with high-credit quality financial institutions and generally invests primarily in corporate debt securities, money market instruments, U.S. government and agency debt securities, commercial paper and bank deposits placed with major banks and financial institutions. Accounts receivable is generally diversified due to the number of entities comprising the Company's customer base and their dispersion across many geographical regions. The Company believes no significant concentration of credit risk exists with respect to these investments and accounts receivable. Inventories The Company holds inventory that is sold through retail, including e-commerce, and wholesale distribution channels. Substantially all of the Company's Inventories are comprised of finished goods, and are reported at the lower of cost or net realizable value. Inventory costs include material, conversion costs, freight and duties and are primarily determined on a weighted-average cost basis. The Company reserves for inventory, including slow-moving and aged inventory, based on current product demand, expected future demand and historical experience. A decrease in product demand due to changing customer tastes, buying patterns or increased competition could impact the Company's evaluation of its inventory and additional reserves might be required. Property and Equipment, Net Property and equipment, net is stated at cost less accumulated depreciation including the impact of long-lived asset impairment and disposals. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Buildings are depreciated over 40 years and building improvements are depreciated over ten to 40 years. Machinery and equipment are depreciated over lives of five to seven years, furniture and fixtures are depreciated over lives of three to ten years, and software and computer equipment is generally depreciated over lives of three to seven years. Implementation costs eligible for capitalization related to cloud computing arrangements that are a service contract are recorded within Prepaid expenses and Other non-current assets in the Consolidated Balance Sheets and amortized as Selling, general and administrative ("SG&A") expense in the Consolidated Statement of Operations over the term of the associated hosting arrangement. Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease terms. Maintenance and repair costs are charged to earnings as incurred while expenditures for major renewals and improvements are capitalized. Valuation of Long-Lived Assets Long-lived assets, such as Property and equipment and Operating lease right-of-use ("ROU") assets are evaluated for impairment whenever events or circumstances indicate that the carrying value of the assets may not be recoverable. In evaluating long-lived assets for recoverability, the Company uses its best estimate of future cash flows expected to result from the use of the related asset group and its eventual disposition. To the extent that estimated future undiscounted net cash flows attributable to the asset are less than its carrying value, an impairment loss is recognized equal to the difference between the carrying value of such asset and its fair value, considering external market participant assumptions. The Company recorded $4.0 million and $60.9 million of impairment charges in fiscal 2022 and fiscal 2021, respectively. In determining future cash flows, the Company takes various factors into account, including the effects of macroeconomic trends such as consumer spending, in-store capital investments, promotional cadence, the level of advertising and changes in merchandising strategy. Since the determination of future cash flows is an estimate of future performance, there may be future impairments in the event that future cash flows do not meet expectations. Goodwill and Other Intangible Assets Upon acquisition, the Company estimates and records the fair value of purchased intangible assets, which primarily consists of brands, customer relationships, right-of-use assets and order backlog. Goodwill and certain other intangible assets deemed to have indefinite useful lives, including brand intangible assets, are not amortized, but are assessed for impairment at least annually. Finite-lived intangible assets are amortized over their respective estimated useful lives and, along with other long-lived assets as noted above, are evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying values may not be fully recoverable. Estimates of fair value for finite-lived and indefinite-lived intangible assets are primarily determined using discounted cash flows and the multi-period excess earnings method, respectively, with consideration of market comparisons when appropriate. This approach uses significant estimates and assumptions, including projected future cash flows, discount rates and growth rates. The Company generally performs its annual goodwill and indefinite-lived intangible assets impairment analysis using a quantitative approach. The quantitative goodwill impairment test identifies the existence of potential impairment by comparing the fair value of each reporting unit with its carrying value, including goodwill. If the fair value of a reporting unit exceeds its carrying value, the reporting unit's goodwill is considered not to be impaired. If the carrying value of a reporting unit exceeds its fair value, an impairment charge is recognized in an amount equal to that excess. The impairment charge recognized is limited to the amount of goodwill allocated to that reporting unit. Determination of the fair value of a reporting unit and intangible asset is based on management's assessment, considering independent third-party appraisals when necessary. Furthermore, this determination is judgmental in nature and often involves the use of significant estimates and assumptions, which may include projected future cash flows, discount rates, growth rates, and determination of appropriate market comparables and recent transactions. These estimates and assumptions could have a significant impact on whether or not an impairment charge is recognized and the amount of any such charge. The Company performs its annual impairment assessment of goodwill as well as brand intangibles during 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. The Company determined that there was no impairment in fiscal 2022 or fiscal 2021. In fiscal 2020, the Company recorded a goodwill impairment charge of $210.7 million related to the Stuart Weitzman reporting unit and an impairment charge of $267.0 million related to the Stuart Weitzman indefinite-lived brand. Operating Leases The Company leases retail space, office space, warehouse facilities, fulfillment centers, storage space, machinery, equipment and certain other items under operating leases. 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 right-of-use ("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. Per the guidance, the use of the implicit rate to determine the present value of lease payments is required. 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 Company's credit rating, credit spread and adjustments for the impact of collateral, lease tenors, economic environment and currency. 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 Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. Asset retirement obligations represent legal obligations associated with the retirement of a tangible long-lived asset. The Company’s asset retirement obligations are primarily associated with leasehold improvements in which the Company is contractually obligated to remove at the end of a lease to comply with the lease agreement. When such an obligation exists, the Company recognizes an asset retirement obligation at the inception of a lease at its estimated fair value. The asset retirement obligation is recorded in current liabilities or non-current liabilities (based on the expected timing of payment of the related costs) and is subsequently adjusted for any changes in estimates. The associated estimated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset and depreciated over its useful life. As of the end of fiscal 2022 and fiscal 2021, the Company had asset retirement obligations of $48.8 million and $45.1 million, respectively, primarily classified within Other non-current liabilities in the Company's Consolidated Balance Sheets. Revenue Recognition Revenue is recognized when the Company satisfies its performance obligations by transferring control of promised products or services to its customers, which may be at a point of 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. Retail store and concession shop-in-shop revenues are recognized at the point-of-sale, when the customer obtains physical possession of the products. Digital 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 digital 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. 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. Wholesale revenue is recorded net of estimates for returns, discounts, end-of-season markdowns, cooperative advertising allowances and other consideration provided to the customer. 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. Gift cards issued by the Company are recorded as a liability until they are redeemed, 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 accounts for sales taxes and other related taxes on a net basis, excluding such taxes from revenue. Refer to Note 4, "Revenue," for additional information. Cost of Sales Cost of sales consists of inventory costs and other related costs such as reserves for inventory realizability and shrinkage, damages and replacements. Selling, General and Administrative ("SG&A") Expenses Selling expenses include store employee compensation, occupancy costs, depreciation, supply costs, wholesale and retail account administration compensation globally. These expenses are affected by the number of stores open during any fiscal period and store performance, as compensation and rent expenses can vary with sales. Advertising, marketing and design expenses include employee compensation, media space and production, advertising agency fees, new product design costs, public relations and market research expenses. Distribution and customer service expenses include warehousing, order fulfillment, shipping and handling, customer service, employee compensation and bag repair costs. SG&A expenses also include compensation costs for corporate functions including: executive, finance, human resources, legal and information systems departments, as well as corporate headquarters occupancy costs, consulting fees and software expenses. Shipping and Handling Shipping and handling costs incurred were $230.8 million, $178.6 million and $128.1 million in fiscal 2022, fiscal 2021 and fiscal 2020, respectively, and are included in SG&A expenses. The Company includes inbound product-related transportation costs from manufacturers within Cost of sales. The balance of the Company's transportation-related costs related to its distribution network is included in SG&A expenses rather than in Cost of sales. Advertising Advertising costs include expenses related to direct marketing activities, such as digital and other media and production costs. In fiscal 2022, fiscal 2021 and fiscal 2020, advertising expenses for the Company totaled $551.6 million, $395.2 million and $238.0 million, respectively, and are included in SG&A expenses. Advertising costs are generally expensed when the advertising first appears. Share-Based Compensation The Company recognizes the cost of equity awards to employees and the non-employee Directors based on the grant-date fair value of those awards. The grant-date fair values of share unit awards are based on the fair value of the Company's common stock on the date of grant. The grant-date fair value of stock option awards is determined using the Black-Scholes option pricing model and involves several assumptions, including the expected term of the option, expected volatility and dividend yield. The expected term of options represents the period of time that the options granted are expected to be outstanding and is based on historical experience. Expected volatility is based on historical volatility of the Company’s stock as well as the implied volatility from publicly traded options on the Company's stock. Dividend yield is based on the current expected annual dividend per share and the Company’s stock price. Changes in the assumptions used to determine the Black-Scholes value could result in significant changes in the Black-Scholes value. The Company recognizes share-based compensation net of estimated forfeitures and revises the estimates in subsequent periods if actual forfeitures differ from the estimates. The Company estimates the forfeiture rate based on historical experience as well as expected future behavior. The Company grants performance-based share awards to key executives, the vesting of which is subject to the executive’s continuing employment and the Company's or individual's achievement of certain performance goals. On a quarterly basis, the Company assesses actual performance versus the predetermined performance goals, and adjusts the share-based compensation expense to reflect the relative performance achievement. Actual distributed shares are calculated upon conclusion of the service and performance periods, and include dividend equivalent shares. If the performance-based award incorporates a market condition, the grant-date fair value of such award is determined using a pricing model, such as a Monte Carlo Simulation. Income Taxes The Company’s effective tax rate is based on pre-tax income, statutory tax rates, tax laws and regulations, and tax planning strategies available in the various jurisdictions in which the Company operates. The Company classifies interest and penalties on uncertain tax positions in the Provision for income taxes. The Company records net deferred tax assets to the extent it believes that it is more likely than not that these assets will be realized. In making such determination, the Company considers all available evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent and expected future results of operation. The Company reduces deferred tax assets by a valuation allowance if, based upon the weight of available evidence, it is more likely than not that some amount of deferred tax assets is not expected to be realized. The Company is not permanently reinvested with respect to earnings of a limited number of foreign entities and has recorded the tax consequences of remitting earnings from these entities. The Company is permanently reinvested with respect to all other earnings. The Company recognizes the impact of tax positions in the financial statements if those positions will more likely than not be sustained on audit, based on the technical merits of the position. Although the Company believes that the estimates and assumptions used are reasonable and legally supportable, the final determination of tax audits could be different than that which is reflected in historical tax provisions and recorded assets and liabilities. Tax authorities periodically audit the Company’s income tax returns and the tax authorities may take a contrary position that could result in a significant impact on the Company's results of operations. Significant management judgment is required in determining the effective tax rate, in evaluating tax positions and in determining the net realizable value of deferred tax assets. Refer to Note 15, "Income Taxes," herein for further discussion on the Company's income taxes. Derivative Instruments The majority of the Company’s purchases of finished goods are denominated in U.S. dollars, which limits the Company’s exposure to the transactional effects of foreign currency exchange rate fluctuations. However, the Company is exposed to foreign currency exchange risk related to its sale of U.S. dollar inventory to foreign operating subsidiaries in local currency, as well as risk related to various cross-currency intercompany loans and payables, and translation risk. The Company is also exposed to foreign currency risk related to changes in the U.S. dollar value of its net investment in foreign subsidiaries. The Company uses derivative financial instruments to manage these risks. These derivative transactions are in accordance with the Company’s risk management policies. The Company does not enter into derivative transactions for speculative or trading purposes. The Company records all derivative contracts at fair value on the Consolidated Balance Sheets. The fair values of foreign currency derivatives are based on the forward curves of the specific indices upon which settlement is based and include an adjustment for the Company’s credit risk. Judgment is required of management in developing estimates of fair value. The use of different market assumptions or methodologies could affect the estimated fair value. For derivative instruments that qualify for hedge accounting, the changes in the fair value of these instruments are either (i) offset against the changes in fair value of the hedged assets or liabilities through earnings or (ii) recognized as a component of Accumulated other comprehensive income (loss) ("AOCI") until the hedged item is recognized in earnings, depending on whether the derivative is being used to hedge changes in fair value or cash flows. For derivative instruments that are designated as a net investment hedge, the changes in the fair value of the instruments are recognized as a component of AOCI, and upon discontinuation of the hedge remain in AOCI until the net investment is sold or liquidated. Each derivative instrument entered into by the Company that qualifies for hedge accounting is expected to be highly effective at reducing the risk associated with the exposure being hedged. For each derivative that is designated as a hedge, the Company documents the related risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, as well as how hedge effectiveness will be assessed over the term of the instrument. The extent to which a hedging instrument has been and is expected to remain highly effective in achieving offsetting changes in fair value or cash flows is assessed and documented by the Company on at least a quarterly basis. If it is determined that a derivative instrument has not been highly effective, and will continue not to be highly effective in hedging the designated exposure, hedge accounting is discontinued and further gains (losses) are recognized in earnings within foreign currency gains (losses). Upon discontinuance of hedge accounting, the cumulative change in fair value of cash flow derivatives previously recorded in AOCI is recognized in earnings when the related hedged item affects earnings, consistent with the original hedging strategy, unless the forecasted transaction is no longer probable of occurring, in which case the accumulated amount is immediately recognized in earnings within foreign currency gains (losses). As a result of the use of derivative instruments, the Company may be exposed to the risk that the counterparties to such contacts will fail to meet their contractual obligations. To mitigate this counterparty credit risk, the Company has a policy of only entering into contracts with carefully selected financial institutions based upon an evaluation of their credit ratings, among other factors. The fair values of the Company’s derivative instruments are recorded on its Consolidated Balance Sheets on a gross basis. For cash flow reporting purposes, the Company classifies proceeds received or amounts paid upon the settlement of a derivative instrument in the same manner as the related item being hedged, primarily within cash from operating activities. Hedging Portfolio The Company enters into forward currency contracts primarily to reduce its risks related to exchange rate fluctuations on foreign currency denominated inventory transactions, as well as various cross-currency intercompany loans and payables. To the extent its derivative contracts designated as cash flow hedges are highly effective in offsetting changes in the value of the hedged items, the related gains (losses) are initially deferred in AOCI and subsequently recognized in the Consolidated Statements of Operations as part of the cost of the inventory purchases being hedged within Cost of sales, when the related inventory is sold to a third party. Current maturity dates range from July 2022 to June 2023. Forward foreign currency exchange contracts designated as fair value hedges and associated with intercompany and other contractual obligations are recognized within foreign currency gains (losses) generally in the period in which the related balances being hedged are revalued. The maturity date of most instruments held as of July 2, 2022 are in August 2022, and such contracts are typically renewed upon maturity if the related balance has not been settled. The Company also enters into cross-currency swaps to reduce its risks related to exchange rate fluctuations on net investments in foreign subsidiaries. The related gains (losses) are deferred in AOCI until the net investment is sold or liquidated, and current maturity dates range from April 2025 to March 2032. Foreign Currency The functional currency of the Company's foreign operations is generally the applicable local currency. Assets and liabilities are translated into U.S. dollars using the current exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted-average exchange rates for the period. The resulting translation adjustments are included in the Consolidated Statements of Comprehensive Income as a component of Other comprehensive income (loss) (“OCI”) and in the Consolidated Statements of Equity within AOCI. The Company recognizes gains and losses on transactions that are denominated in a currency other than the respective entity's functional currency in earnings. Foreign currency transaction gains and losses also include amounts realized on the settlement of certain intercompany loans with foreign subsidiaries. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes". The ASU simplifies the accounting for income taxes by, among other things, eliminating certain existing exceptions related to the general approach in Topic 740 relating to franchise taxes, reducing complexity in the interim-period accounting for year-to-date loss limitations and changes in tax laws, and clarifying the accounting for the step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 as of the beginning of fiscal 2022. The adoption of ASU 2019-12 did not have a material impact on the Company's consolidated financial statements and notes thereto. Recently Issued Accounting Pronouncements Not Yet Adopted The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on our results of operations, financial condition or cash flows based on current information.

Revenue

12 Months Ended

Jul. 02, 2022

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 e-commerce sites. 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. Digital 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 digital 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.

Certain of the Company's retail operations use sales incentive programs, such as customer loyalty programs and the issuance of coupons. Loyalty programs provide the customer a material right to acquire additional products and give rise to the Company having a separate performance obligation. Additionally, certain products sold by the Company include an assurance warranty that is not considered a separate performance obligation. These programs are immaterial individually and in the aggregate.

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 fiscal year ended July 2, 2022.

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)
Fiscal 2022
Coach	$	3,102.8	$	892.2	$	691.3	$	235.0	$	4,921.3
Kate Spade	1,156.7		41.7		139.0		108.1		1,445.5
Stuart Weitzman	189.9		92.7		0.4		34.7		317.7
Total	$	4,449.4	$	1,026.6	$	830.7	$	377.8	$	6,684.5

Fiscal 2021
Coach	$	2,466.3	$	930.6	$	666.3	$	189.9	$	4,253.1
Kate Spade	936.7		55.2		134.7		83.4		1,210.0
Stuart Weitzman	139.4		108.3		4.0		31.5		283.2
Total	$	3,542.4	$	1,094.1	$	805.0	$	304.8	$	5,746.3

Fiscal 2020
Coach	$	2,015.5	$	600.8	$	691.0	$	218.4	$	3,525.7
Kate Spade	889.4		48.3		141.6		70.2		1,149.5
Stuart Weitzman	146.2		81.2		18.3		40.5		286.2
Total	$	3,051.1	$	730.3	$	850.9	$	329.1	$	4,961.4

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

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

(3) Other sales primarily represents sales in Europe, the Middle East and royalties earned from the Company's licensing partners.

Deferred RevenueDeferred 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 July 2, 2022 and July 3, 2021 was $41.5 million and $32.4 million, respectively, which were primarily recorded within Accrued liabilities on the Company's Consolidated Balance Sheets and are generally expected to be recognized as revenue within a year. For the fiscal year ended July 2, 2022, net sales of $16.8 million were recognized from amounts recorded as deferred revenue as of July 3, 2021. For the fiscal year ended July 3, 2021, net sales of $12.5 million were recognized from amounts recorded as deferred revenue as of June 27, 2020.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Restructuring Activities

12 Months Ended

Jul. 02, 2022

Restructuring and Related Activities [Abstract]

Restructuring Activities

RESTRUCTURING ACTIVITIES

Acceleration Program

Starting in fiscal 2020, the Company embarked on a strategic growth plan after undergoing a review of its business under its multi-year growth agenda. This multi-faceted, multi-year strategic growth plan (the "Acceleration Program") reflects: (i) actions to streamline the Company's organization; (ii) select store closures as the Company optimizes its fleet (including store closure costs incurred as the Company exits certain regions in which it currently operates); and (iii) professional fees and share-based compensation costs incurred as a result of the development and execution of the Company's comprehensive strategic initiatives aimed at increasing profitability. Since inception in fiscal 2020, the Company incurred total pre-tax charges of $219.4 million. The Company does not expect to incur further expenses related to the Acceleration Program in fiscal 2023.

Under the Acceleration Program, the Company incurred charges of $42.8 million during the fiscal year ended July 2, 2022, all of which was recorded within SG&A expenses. Of the $42.8 million recorded within SG&A expenses, $26.6 million was recorded within Corporate, $6.7 million was recorded within the Coach segment, $5.9 million was recorded within the Kate Spade segment and $3.6 million was recorded within the Stuart Weitzman segment.

During the fiscal year ended July 3, 2021, the Company incurred charges of $89.6 million, all of which was recorded within SG&A expenses. Of the $89.6 million recorded within SG&A, $65.8 million was recorded within Corporate, $21.9 million was recorded within the Coach segment, $4.4 million was recorded within the Kate Spade segment and a reduction of expense of $2.5 million was recorded within the Stuart Weitzman segment.

During the fiscal year ended June 27, 2020, the Company incurred charges of $87.0 million, of which $8.4 million was recorded within Cost of sales and $78.6 million was recorded within SG&A expenses. Of the $8.4 million recorded within Cost of sales, $8.4 million was recorded within the Stuart Weitzman segment. Of the $78.6 million recorded within SG&A expenses, $28.9 million was recorded within Corporate, $18.5 million was recorded within the Coach segment, $17.6 million was recorded within the Stuart Weitzman segment and $13.6 million was recorded within the Kate Spade segment.

A summary of charges and related liabilities under the Acceleration Program is as follows:


	Organization-Related(1)		Store Closure(2)		Other(3)		Total
	(millions)
Fiscal 2020 charges	$	44.7	$	32.3	$	10.0	$	87.0
Cash payments	(15.8)		(11.0)		(7.1)		(33.9)
Non-cash charges	(4.0)		(20.8)		—		(24.8)
Liability balance as of June 27, 2020	$	24.9	$	0.5	$	2.9	$	28.3
Fiscal 2021 charges	$	16.6	$	5.9	$	67.1	$	89.6
Cash payments	(38.2)		(11.9)		(36.6)		(86.7)
Non-cash charges	—		5.8		(10.9)		(5.1)
Liability balance as of July 3, 2021	$	3.3	$	0.3	$	22.5	$	26.1
Fiscal 2022 charges	$	0.5	$	3.9	$	38.4	$	42.8
Cash payments	(2.7)		(6.4)		(38.2)		(47.3)
Non-cash charges	—		2.4		(17.2)		(14.8)
Liability balance as of July 2, 2022	$	1.1	$	0.2	$	5.5	$	6.8

(1) Organization-related charges, recorded within SG&A expenses, primarily relates to severance and other related costs.

(2) Store closure charges represent lease termination penalties, removal or modification of lease assets and liabilities, establishing inventory reserves, accelerated depreciation and severance.

(3) Other charges, recorded within SG&A, primarily relates to share-based compensation and professional fees.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Jul. 02, 2022

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The components of Accumulated other comprehensive income (loss), 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(2)		Total
	(millions)
Balances at June 27, 2020	$	1.1	$	—	$	(93.3)	$	(92.2)
Other comprehensive income (loss) before reclassifications	(6.6)		—		22.0		15.4
Less: amounts reclassified from accumulated other comprehensive income (loss)	(4.8)		—		—		(4.8)
Net current-period other comprehensive income (loss)	(1.8)		—		22.0		20.2
Balances at July 3, 2021	$	(0.7)	$	—	$	(71.3)	$	(72.0)
Other comprehensive income (loss) before reclassifications	(4.2)		(0.5)		(96.8)		(101.5)
Less: amounts reclassified from accumulated other comprehensive income (loss)	(2.6)		—		—		(2.6)
Net current-period other comprehensive income (loss)	(1.6)		(0.5)		(96.8)		(98.9)
Balances at July 2, 2022	$	(2.3)	$	(0.5)	$	(168.1)	$	(170.9)

(1) The ending balances of AOCI related to cash flow hedges are net of tax of $0.9 million and $0.3 million as of July 2, 2022 and July 3, 2021, respectively. The amounts reclassified from AOCI are net of tax of $0.8 million and $0.1 million as of July 2, 2022 and July 3, 2021, respectively.

(2) As of July 2, 2022, OCI before reclassifications includes a net loss of $7.6 million related to changes in the fair values of instruments designated as hedges of the Company's net investment in certain foreign operations. The ending balances of AOCI related to net investment hedges are net of tax of $(11.4) million as of July 2, 2022 and as the Company began entering into net investment hedges in Fiscal 2022, there was no balance as of July 3, 2021.

Share-Based Compensation

12 Months Ended

Jul. 02, 2022

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

SHARE-BASED COMPENSATION

The Company maintains several share-based compensation plans which are more fully described below. The following table shows the total compensation cost charged against income for these plans and the related tax benefits recognized in the Consolidated Statements of Operations:


	July 2, 2022		July 3, 2021		June 27, 2020
	(millions)
Share-based compensation expense(1)	$	89.4	$	74.9	$	66.9
Income tax benefit related to share-based compensation expense	15.2		12.9		13.8

(1) During the fiscal year ended July 2, 2022, the Company incurred $17.2 million of share-based compensation expense related to its Acceleration Program. During the fiscal year ended July 3, 2021, the Company incurred $10.8 million of share-based compensation expense related to Acceleration Program. During the fiscal year ended June 27, 2020, the Company incurred $9.8 million of share-based compensation expense related to its organization-related and integration activities and $4.0 million of share-based compensation expense related to its Acceleration Program. Refer to Note 5, "Restructuring Activities," for further information.

Stock-Based Plans

The Company maintains the Amended and Restated Tapestry, Inc. 2018 Stock Incentive Plan to award stock options and shares to certain members of management and the outside members of its Board of Directors (“Board”). The Company

maintains the 2010 Stock Incentive Plan for awards granted prior to the establishment of the 2018 Stock Incentive Plan. These plans were approved by the Company's stockholders. The exercise price of each stock option equals 100% of the market price of the Company's stock on the date of grant and generally has a maximum term of 10 years. Stock options and service based share awards that are granted as part of the annual compensation process generally vest ratably over four years. Stock option and share awards are subject to forfeiture until completion of the vesting period, which ranges from one to four years. The Company issues new shares upon the exercise of stock options or vesting of share awards.

Stock Options

A summary of stock option activity during the fiscal year ended July 2, 2022 is as follows:


	Number of Options Outstanding	Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
	(millions)				(millions)
Outstanding at July 3, 2021	13.3	$	35.99
Granted	0.7	42.27
Exercised	(2.2)	33.70
Forfeited or expired	(1.8)	48.94
Outstanding at July 2, 2022	10.0	34.52		5.4	$	49.9
Vested and expected to vest at July 2, 2022	10.0	34.61		5.3	49.0
Exercisable at July 2, 2022	6.5	39.32		4.0	15.7

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:


	July 2, 2022		July 3, 2021		June 27, 2020
Expected term (years)	5.0		5.1		5.1
Expected volatility	46.9	%	48.8	%	37.6	%
Risk-free interest rate	0.8	%	0.3	%	1.5	%
Dividend yield	2.4	%	—	%	6.3	%

The expected term of options represents the period of time that the options granted are expected to be outstanding and is based on historical experience. Expected volatility is based on historical volatility of the Company’s stock as well as the implied volatility from publicly traded options on the Company's stock. The risk free interest rate is based on the zero-coupon U.S. Treasury issue as of the date of the grant. Dividend yield is based on the expected annual dividend per share and the Company’s stock price as of the grant date.

The weighted-average grant-date fair value of options granted during fiscal 2022, fiscal 2021 and fiscal 2020 was $13.94, $7.54 and $3.83, respectively. The total intrinsic value of options exercised during fiscal 2022, fiscal 2021 and fiscal 2020 was $17.5 million, $17.0 million and $0.0 million, respectively. The total cash received from option exercises was $71.3 million, $58.1 million and $0.1 million in fiscal 2022, fiscal 2021 and fiscal 2020, respectively, and the cash tax benefit realized for the tax deductions from these option exercises was $3.7 million, $3.7 million and $0.0 million, respectively.

At July 2, 2022, $16.7 million of total unrecognized compensation cost related to non-vested stock option awards is expected to be recognized over a weighted-average period of 1.3 years.

Service-based Restricted Stock Unit Awards (“RSUs”)

A summary of service-based RSU activity during the year ended July 2, 2022 is as follows:


	Number of Non-vested RSUs	Weighted- Average Grant- Date Fair Value per RSU
	(millions)
Non-vested at July 3, 2021	7.3	$	21.11
Granted	1.9	41.70

Vested	(2.2)	25.00
Forfeited	(0.6)	24.62
Non-vested at July 2, 2022	6.4	25.15

At July 2, 2022, $94.1 million of total unrecognized compensation cost related to non-vested share awards is expected to be recognized over a weighted-average period of 1.3 years.

The weighted-average grant-date fair value of share awards granted during fiscal 2022, fiscal 2021 and fiscal 2020 was $41.70, $16.40 and $21.31, respectively. The total fair value of shares vested during fiscal 2022, fiscal 2021 and fiscal 2020 was $92.5 million, $26.3 million and $33.5 million, respectively.

Performance-based Restricted Stock Unit Awards (“PRSU”)

The Company grants PRSUs to key executives, the vesting of which is subject to the executive’s continuing employment and the Company's achievement of certain performance goals. A summary of PRSU activity during the fiscal year ended July 2, 2022 is as follows:


	Number of Non-vested PRSUs	Weighted- Average Grant- Date Fair Value per PRSU
	(millions)
Non-vested at July 3, 2021	1.0	$	20.82
Granted	0.3	41.86
Change due to performance condition achievement	(0.1)	48.38
Vested	—	—
Forfeited	—	—
Non-vested at July 2, 2022	1.2	23.52

At July 2, 2022, $17.6 million of total unrecognized compensation cost related to non-vested share awards is expected to be recognized over a weighted-average period of 1.1 years.

The weighted-average grant-date fair value per share of PRSU awards granted during fiscal 2022, fiscal 2021 and fiscal 2020 was $41.86, $16.83 and $21.43, respectively. The total fair value of awards that vested during fiscal 2022, fiscal 2021 and fiscal 2020 was $0.0 million, $3.7 million and $8.3 million, respectively.

PRSUs are subject to a two-year and three-year cliff vesting contingent on the employee's continuing employment and the Company's achievement of the performance goals established at the beginning of the performance period. The fair value of the PRSU's is based on the price of the Company's common stock on the date of grant.

In fiscal 2022, fiscal 2021 and fiscal 2020, the cash tax benefit realized for the tax deductions from all RSUs (service and performance-based) was $17.4 million, $6.2 million and $8.8 million, respectively.

Employee Stock Purchase Plan

Under the 2001 Employee Stock Purchase Plan, eligible employees are permitted to purchase a limited number of Company common shares at 85% of market value. Under this plan, the Company sold 0.1 million, 0.2 million and 0.2 million shares to employees in fiscal 2022, fiscal 2021 and fiscal 2020, respectively. Compensation expense is calculated for the fair value of employees’ purchase rights using the Black-Scholes model and the following weighted-average assumptions:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021		June 27, 2020
Expected term (years)	0.5		0.5		0.5
Expected volatility	38.2	%	81.6	%	50.2	%
Risk-free interest rate	0.1	%	0.1	%	1.9	%
Dividend yield	1.5	%	—	%	4.9	%

The weighted-average fair value of the purchase rights granted during fiscal 2022, fiscal 2021 and fiscal 2020 was $10.71, $7.39 and $7.75, respectively. The Company issues new shares for employee stock purchases.

Investments

12 Months Ended

Jul. 02, 2022

Investments, Debt and Equity Securities [Abstract]

Investments

INVESTMENTS

The following table summarizes the Company’s primarily U.S. dollar-denominated investments, recorded within the Consolidated Balance Sheets as of July 2, 2022 and July 3, 2021:


	July 2, 2022						July 3, 2021
	Short-term		Long-term(3)		Total		Short-term		Long-term(3)		Total
	(millions)
Available-for-sale investments:
Commercial paper(1)	$	59.6	$	—	$	59.6	$	—	$	—	$	—
Government securities – U.S.(2)	39.4		—		39.4		—		—		—
Corporate debt securities – U.S.(2)	55.2		—		55.2		—		—		—


Available-for-sale investments, total	$	154.2	$	—	$	154.2	$	—	$	—	$	—





Other:
Time deposits(1)	0.6		—		0.6		0.7		—		0.7
Other	8.6		0.1		8.7		7.4		0.1		7.5
Total Investments	$	163.4	$	0.1	$	163.5	$	8.1	$	0.1	$	8.2

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

(2)These securities as of July 2, 2022 have maturity dates during fiscal 2023 and are recorded at fair value.

(3)Long-term investments are presented within Other assets on the Consolidated Balance Sheets.

There were no material gross unrealized gains or losses on available-for-sale investments as of the periods ended July 2, 2022 and July 3, 2021.

Leases

12 Months Ended

Jul. 02, 2022

Leases [Abstract]

Leases

LEASES

The Company leases retail space, office space, warehouse facilities, fulfillment 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 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. The Company is required to use 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 Company's credit rating, credit spread and adjustments for the impact of collateral, lease tenors, economic environment and currency.

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 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 of 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 Consolidated Balance Sheet as of July 2, 2022 and July 3, 2021:


	July 2, 2022		July 3, 2021		Location Recorded on Balance Sheet
	(millions)
Assets:
Operating leases	$	1,281.6	$	1,496.6	Operating lease right-of-use assets
Finance leases	1.9		2.6		Property and equipment, net
Total lease assets	$	1,283.5	$	1,499.2
Liabilities:
Operating leases:
Current lease liabilities	$	288.7	$	319.4	Current lease liabilities
Long-term lease liabilities	1,282.3		1,525.9		Long-term lease liabilities
Total operating lease liabilities	$	1,571.0	$	1,845.3
Finance leases:
Current lease liabilities	$	1.1	$	1.0	Accrued liabilities
Long-term lease liabilities	2.4		3.4		Other liabilities
Total finance lease liabilities	$	3.5	$	4.4

Total lease liabilities	$	1,574.5	$	1,849.7

The following table summarizes the composition of net lease costs, primarily recorded within SG&A expenses on the Company's Consolidated Statement of Operations for the fiscal year ended July 2, 2022 and July 3, 2021:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021
	(millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.9	$	0.8
Interest on lease liabilities(1)	0.5		0.6
Total finance lease cost	1.4		1.4
Operating lease cost	331.9		348.7
Short-term lease cost	23.5		23.0
Variable lease cost(2)	203.0		115.7
Operating lease right-of-use impairment(3)	0.9		48.3
Less: sublease income	(19.7)		(20.2)
Total net lease cost	$	541.0	$	516.9

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

(2) Rent concessions negotiated related to Covid-19 are recorded in variable lease cost.

(3) Operating lease right-of-use impairment includes charges under the Acceleration Program for the year ended July 3, 2021.

The following table summarizes certain cash flow information related to the Company's leases for the fiscal year ended July 2, 2022 and July 3, 2021:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	418.3	$	487.6
Operating cash flows from finance leases	0.5		0.6
Financing cash flows from finance leases	0.9		0.8
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	111.7		62.3
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 Consolidated Balance Sheet as of July 2, 2022:


	July 2, 2022
	Operating Leases		Finance Leases		Total
	(millions)
Fiscal 2023	$	358.8	$	1.4	$	360.2
Fiscal 2024	298.5		1.4		299.9
Fiscal 2025	236.7		1.3		238.0
Fiscal 2026	192.4		—		192.4
Fiscal 2027	159.4		—		159.4
Fiscal 2028 and thereafter	637.6		—		637.6
Total lease payments	1,883.4		4.1		1,887.5
Less: imputed interest	(312.4)		(0.6)		(313.0)
Total lease liabilities	$	1,571.0	$	3.5	$	1,574.5

The future minimum fixed sublease receipts under non-cancelable operating lease agreements as of July 2, 2022 are as follows:


	July 2, 2022
	(millions)
Fiscal 2023	$	16.3
Fiscal 2024	16.7
Fiscal 2025	16.6
Fiscal 2026	14.8
Fiscal 2027	14.8
Fiscal 2028 and thereafter	142.3
Total sublease income	$	221.5

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 Consolidated Balance Sheet as of July 2, 2022 and July 3, 2021:


	July 2, 2022		July 3, 2021
Weighted average remaining lease term (years):
Operating leases	8.0		8.3
Finance leases	2.9		3.9
Weighted average discount rate:
Operating leases	3.9	%	3.8	%
Finance leases	11.3	%	11.3	%

Additionally, the Company had approximately $181.4 million of future payment obligations related to executed lease agreements for which the related lease had not yet commenced as of July 2, 2022. This obligation primarily relates to a lease agreement for a fulfillment center to be located in Las Vegas, Nevada.

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 Consolidated Balance Sheet as of July 2, 2022 and July 3, 2021:


	July 2, 2022		July 3, 2021		Location Recorded on Balance Sheet
	(millions)
Assets:
Operating leases	$	1,281.6	$	1,496.6	Operating lease right-of-use assets
Finance leases	1.9		2.6		Property and equipment, net
Total lease assets	$	1,283.5	$	1,499.2
Liabilities:
Operating leases:
Current lease liabilities	$	288.7	$	319.4	Current lease liabilities
Long-term lease liabilities	1,282.3		1,525.9		Long-term lease liabilities
Total operating lease liabilities	$	1,571.0	$	1,845.3
Finance leases:
Current lease liabilities	$	1.1	$	1.0	Accrued liabilities
Long-term lease liabilities	2.4		3.4		Other liabilities
Total finance lease liabilities	$	3.5	$	4.4

Total lease liabilities	$	1,574.5	$	1,849.7


	Fiscal Year Ended
	July 2, 2022		July 3, 2021
	(millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.9	$	0.8
Interest on lease liabilities(1)	0.5		0.6
Total finance lease cost	1.4		1.4
Operating lease cost	331.9		348.7
Short-term lease cost	23.5		23.0
Variable lease cost(2)	203.0		115.7
Operating lease right-of-use impairment(3)	0.9		48.3
Less: sublease income	(19.7)		(20.2)
Total net lease cost	$	541.0	$	516.9

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

(2) Rent concessions negotiated related to Covid-19 are recorded in variable lease cost.

(3) Operating lease right-of-use impairment includes charges under the Acceleration Program for the year ended July 3, 2021.

The following table summarizes certain cash flow information related to the Company's leases for the fiscal year ended July 2, 2022 and July 3, 2021:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	418.3	$	487.6
Operating cash flows from finance leases	0.5		0.6
Financing cash flows from finance leases	0.9		0.8
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	111.7		62.3
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 Consolidated Balance Sheet as of July 2, 2022:


	July 2, 2022
	Operating Leases		Finance Leases		Total
	(millions)
Fiscal 2023	$	358.8	$	1.4	$	360.2
Fiscal 2024	298.5		1.4		299.9
Fiscal 2025	236.7		1.3		238.0
Fiscal 2026	192.4		—		192.4
Fiscal 2027	159.4		—		159.4
Fiscal 2028 and thereafter	637.6		—		637.6
Total lease payments	1,883.4		4.1		1,887.5
Less: imputed interest	(312.4)		(0.6)		(313.0)
Total lease liabilities	$	1,571.0	$	3.5	$	1,574.5

The future minimum fixed sublease receipts under non-cancelable operating lease agreements as of July 2, 2022 are as follows:


	July 2, 2022
	(millions)
Fiscal 2023	$	16.3
Fiscal 2024	16.7
Fiscal 2025	16.6
Fiscal 2026	14.8
Fiscal 2027	14.8
Fiscal 2028 and thereafter	142.3
Total sublease income	$	221.5


	July 2, 2022		July 3, 2021
Weighted average remaining lease term (years):
Operating leases	8.0		8.3
Finance leases	2.9		3.9
Weighted average discount rate:
Operating leases	3.9	%	3.8	%
Finance leases	11.3	%	11.3	%

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 Consolidated Balance Sheet as of July 2, 2022 and July 3, 2021:


	July 2, 2022		July 3, 2021		Location Recorded on Balance Sheet
	(millions)
Assets:
Operating leases	$	1,281.6	$	1,496.6	Operating lease right-of-use assets
Finance leases	1.9		2.6		Property and equipment, net
Total lease assets	$	1,283.5	$	1,499.2
Liabilities:
Operating leases:
Current lease liabilities	$	288.7	$	319.4	Current lease liabilities
Long-term lease liabilities	1,282.3		1,525.9		Long-term lease liabilities
Total operating lease liabilities	$	1,571.0	$	1,845.3
Finance leases:
Current lease liabilities	$	1.1	$	1.0	Accrued liabilities
Long-term lease liabilities	2.4		3.4		Other liabilities
Total finance lease liabilities	$	3.5	$	4.4

Total lease liabilities	$	1,574.5	$	1,849.7


	Fiscal Year Ended
	July 2, 2022		July 3, 2021
	(millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.9	$	0.8
Interest on lease liabilities(1)	0.5		0.6
Total finance lease cost	1.4		1.4
Operating lease cost	331.9		348.7
Short-term lease cost	23.5		23.0
Variable lease cost(2)	203.0		115.7
Operating lease right-of-use impairment(3)	0.9		48.3
Less: sublease income	(19.7)		(20.2)
Total net lease cost	$	541.0	$	516.9

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

(2) Rent concessions negotiated related to Covid-19 are recorded in variable lease cost.

(3) Operating lease right-of-use impairment includes charges under the Acceleration Program for the year ended July 3, 2021.

The following table summarizes certain cash flow information related to the Company's leases for the fiscal year ended July 2, 2022 and July 3, 2021:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	418.3	$	487.6
Operating cash flows from finance leases	0.5		0.6
Financing cash flows from finance leases	0.9		0.8
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	111.7		62.3
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 Consolidated Balance Sheet as of July 2, 2022:


	July 2, 2022
	Operating Leases		Finance Leases		Total
	(millions)
Fiscal 2023	$	358.8	$	1.4	$	360.2
Fiscal 2024	298.5		1.4		299.9
Fiscal 2025	236.7		1.3		238.0
Fiscal 2026	192.4		—		192.4
Fiscal 2027	159.4		—		159.4
Fiscal 2028 and thereafter	637.6		—		637.6
Total lease payments	1,883.4		4.1		1,887.5
Less: imputed interest	(312.4)		(0.6)		(313.0)
Total lease liabilities	$	1,571.0	$	3.5	$	1,574.5

The future minimum fixed sublease receipts under non-cancelable operating lease agreements as of July 2, 2022 are as follows:


	July 2, 2022
	(millions)
Fiscal 2023	$	16.3
Fiscal 2024	16.7
Fiscal 2025	16.6
Fiscal 2026	14.8
Fiscal 2027	14.8
Fiscal 2028 and thereafter	142.3
Total sublease income	$	221.5


	July 2, 2022		July 3, 2021
Weighted average remaining lease term (years):
Operating leases	8.0		8.3
Finance leases	2.9		3.9
Weighted average discount rate:
Operating leases	3.9	%	3.8	%
Finance leases	11.3	%	11.3	%

Derivative Instruments and Hedging Activities

12 Months Ended

Jul. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

The following tables provide information related to the Company's derivative instruments recorded on the Company's Consolidated Balance Sheets as of July 2, 2022 and July 3, 2021:


	Notional Value				Derivative Assets					Derivative Liabilities
Designated Derivative Hedging Instruments						Fair Value					Fair Value
	July 2, 2022		July 3, 2021		Balance Sheet Classification	July 2, 2022		July 3, 2021		Balance Sheet Classification	July 2, 2022		July 3, 2021
	(millions)
FC - Inventory purchases(1)	$	41.5	$	61.4	Other Current Assets	$	—	$	—	Accrued Liabilities	$	2.7	$	1.2
FC - Intercompany liabilities and loans(2)	274.1		248.2		Other Current Assets	0.4		0.3		Accrued Liabilities	0.5		—
CCS - Net investment hedges(3)	1,200.0		—		Other Assets	47.8		—		Other Liabilities	44.0		—
Total Hedges	$	1,515.6	$	309.6		$	48.2	$	0.3		$	47.2	$	1.2

(1)Represents forward foreign currency exchange contracts ("FC") designated as derivative instruments in cash flow hedging relationships.

(2)Represents forward foreign currency exchange contracts ("FC") designated as derivative instruments in fair value hedging relationships.

(3)Represents cross currency swap contracts ("CCS") designated as derivative instruments in net investment hedging relationships.

The following tables provides the pretax impact of gains and losses from the Company's designated derivative instruments on its Consolidated Financial Statements for the fiscal years ended July 2, 2022, July 3, 2021 and June 27, 2020:


	Amount of Gain (Loss) Recognized in OCI on Derivatives
	Fiscal Year Ended
	July 2, 2022		July 3, 2021		June 27, 2020
	(millions)
Cash flow hedges:
Inventory purchases(1)	$	(5.6)	$	(7.2)	$	(7.9)
Cash flow hedges, total	$	(5.6)	$	(7.2)	$	(7.9)
Fair value hedges:
Intercompany liabilities & loans(2)	—		—		—
Fair value hedges, total	$	—	$	—	$	—
Other:
Net investment hedges	3.8		—		—
Other, total	$	3.8	$	—	$	—
Total hedges	$	(1.8)	$	(7.2)	$	(7.9)


	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
	Statement of Operations Classification	Fiscal Year Ended
		July 2, 2022		July 3, 2021		June 27, 2020
		(millions)
Cash flow hedges:
Inventory purchases(1)	Cost of Sales	$	(3.4)	$	(4.9)	$	(12.4)
Total hedges		$	(3.4)	$	(4.9)	$	(12.4)

For forward foreign currency exchange contracts that are designated as fair value hedges, both the gain (loss) on the derivative as well as the offsetting gain (loss) on the hedged item attributable to the hedged risk are recorded within Other expense (income) on the Company's Consolidated Statement of Operations.

The Company expects that $3.6 million of net derivative gains included in Accumulated other comprehensive income at July 2, 2022 will be reclassified into earnings within the next 12 months. This amount will vary due to fluctuations in foreign currency exchange rates.

The Company assesses the cross-currency swaps used as a net investment hedges under the spot method. This results in the cross-currency basis spread being excluded from the assessment of hedge effectiveness, and recorded as incurred as a reduction in interest expense in the Company’s consolidated statements of operations. Accordingly, the Company recorded net interest income of $2.2 million during Fiscal 2022.

Fair Value Measurements

12 Months Ended

Jul. 02, 2022

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 July 2, 2022 and July 3, 2021:


	Level 1				Level 2
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
	(millions)
Assets:
Cash equivalents(1)	$	99.1	$	662.0	$	10.9	$	0.4
Short-term investments:
Time deposits(2)	—		—		0.6		0.7
Commercial paper(2)	—		—		59.6		—
Government securities - U.S.(2)	39.4		—		—		—
Corporate debt securities - U.S.(2)	—		—		55.2		—

Other	—		—		8.6		7.4
Long-term investments:




Other	—		—		0.1		0.1
Derivative Assets:
Inventory-related instruments(3)	—		—		—		—
Net investment hedges(3)	—		—		47.8		—
Intercompany loans and payables(3)	—		—		0.4		0.3

Liabilities:

Derivative liabilities:
Inventory-related instruments(3)	$	—	$	—	$	2.7	$	1.2
Net investment hedges(3)	—		—		44.0		—
Intercompany loans and payables(3)	—		—		0.5		—

(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, right-of-use 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 fiscal year ended July 2, 2022, the Company recorded $3.1 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 fiscal year ended July 3, 2021, the Company recorded $12.6 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 fiscal year ended July 2, 2022, the Company recorded $0.9 million of impairment charges to reduce the carrying amount of certain operating lease right-of-use assets to their estimated fair values. During the fiscal year ended July 3, 2021, the Company recorded $48.3 million of impairment charges to reduce the carrying amount of certain operating lease right-of-use assets to their estimated fair values.

The fair value of store 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 fiscal year ended June 27, 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 14, "Goodwill and Other Intangible Assets" for further information.

- 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

Debt

12 Months Ended

Jul. 02, 2022

Debt Disclosure [Abstract]

Debt

DEBT

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


	July 2, 2022		July 3, 2021
	(millions)
Current Debt:


Term Loan	$	31.2	$	—
Total Current Debt	$	31.2	$	—

Long-Term Debt:
Term Loan	$	468.8	$	—
3.050% Senior Notes due 2032	500.0		—
4.125% Senior Notes due 2027	396.6		600.0
3.000% Senior Notes due 2022	—		400.0
4.250% Senior Notes due 2025	303.4		600.0
Total Long-Term Debt	1,668.8		1,600.0
Less: Unamortized Discount and Debt Issuance Costs on Senior Notes	(9.6)		(9.3)
Total Long-Term Debt, net	$	1,659.2	$	1,590.7

During fiscal 2022, 2021 and 2020 the Company recognized interest expense related to the outstanding debt of $68.8 million, $73.5 million and $71.5 million, respectively.

$1.25 Billion Revolving Credit Facility and $500.0 Million Term Loan

On May 11, 2022, the Company financed and replaced the $900.0 Million Revolving Credit Facility by entering into a new credit facility that (i) includes an increased revolving credit facility (the “$1.25 Billion Revolving Credit Facility”) from $900.0 million to $1.25 billion, (ii) includes an unsecured $500.0 million Term Loan (the “Term Loan”) and (iii) redefines certain terms within the replaced Revolving Credit Facility (see “$900.0 Million Revolving Credit Facility” below). Both the $1.25 Billion Revolving Credit Facility and Term Loan (collectively, the “Credit Facilities”) will mature on May 11, 2027. The Company and its subsidiaries must comply on a quarterly basis with a maximum 4.0 to 1.0 ratio of (a) consolidated debt minus unrestricted cash and cash equivalents in excess of $300 million to (b) consolidated EBITDAR.

Borrowings under the $1.25 Billion Revolving Credit Facility bear interest at a rate per annum equal to, at the Company’s option, (i) for borrowings in U.S. Dollars, either (a) an alternate base rate or (b) a term secured overnight financing rate, (ii) for borrowings in Euros, the Euro Interbank Offered Rate, (iii) for borrowings in Pounds Sterling, the Sterling Overnight Index Average Reference Rate and (iv) for borrowings in Japanese Yen, the Tokyo Interbank Offer Rate, plus, in each case, an applicable margin. The applicable margin will be adjusted by reference to a grid (the “Pricing Grid”) based on the ratio of (a) consolidated debt to (b) consolidated EBITDAR (the “Gross Leverage Ratio”). Additionally, the Company will pay facility fees, calculated at a rate per annum determined in accordance with the Pricing Grid, on the full amount of the $1.25 Billion Revolving Credit Facility, payable quarterly in arrears, and certain fees with respect to letters of credit that are issued. The $1.25 Billion 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 backup). There were no outstanding borrowings on the $1.25 Billion Revolving Credit Facility as of July 2, 2022.

The Term Loan includes up to a two-month delayed draw period from the closing date. On June 14, 2022 the Company drew down on the Term Loan to satisfy the Company’s remaining obligations under the 3.000% senior unsecured notes due 2022 and for general corporate purposes. The Term Loan amortizes in an amount equal to 5.00% per annum, with payments made quarterly. Borrowings under the Term Loan bear interest at a rate per annum equal to, at the Company’s option, either (i) an alternate base rate or (ii) a term secured overnight financing rate plus, in each case, an applicable margin. The applicable margin will be adjusted by reference to a pricing grid based on the Gross Leverage Ratio. Additionally, the Company will pay a ticking fee on the undrawn amount of the Term Loan.

3.050% Senior Notes due 2032

On December 1, 2021, the Company issued $500.0 million aggregate principal amount of 3.050% senior unsecured notes due March 15, 2032 at 99.705% of par (the "2032 Senior Notes"). Interest is payable semi-annually on March 15 and September 15 beginning March 15, 2022. Prior to December 15, 2031 (the date that is three months prior to the scheduled maturity date), the Company may redeem the 2032 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 2032 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 2032 Senior Notes calculated as if the maturity date of the 2032 Senior Notes was December 15, 2031 (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.

Cash Tender Offer

On December 1, 2021, the proceeds from the 2032 Senior Notes were utilized to complete a cash tender offer of $203.4 million and $296.6 million of the outstanding aggregate principal amount of the Company's 2027 Senior Notes (defined below under "4.125% Senior Notes due 2027") and 2025 Senior Notes (defined below under "4.250% Senior Notes due 2025"), respectively. As a result of these cash tender offers completed prior to their scheduled maturities, the transactions were subject to a premium of $22.4 million and $26.8 million for the 2027 Senior Notes and 2025 Senior Notes, respectively. Additionally, the Company recognized $4.5 million of debt issuance costs, tender fees, and unamortized original discount in connection with the transaction. These premiums and costs, which totaled $53.7 million, were recorded as a pre-tax debt extinguishment charge during the second quarter of fiscal 2022. Refer to the fiscal 2022, "GAAP to Non-GAAP Reconciliation," in Item 7. "Management’s Discussion and Analysis of Financial Condition and Results of Operations" for additional information.

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 month 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. On December 1, 2021, the Company completed a cash tender offer for $203.4 million of the outstanding aggregate principal amount of its 2027 Senior Notes.

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. On June 15, 2022 (the “Redemption Date”), the Company utilized the proceeds from the Term Loan to complete the full redemption of $400.0 million in aggregate principal amount of the 2022 Senior Notes at a redemption price equal to 100.00% of the principal amount of the Notes redeemed, plus accrued and unpaid interest to the Redemption Date of $5.0 million.

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. On December 1, 2021, the Company completed a cash tender offer for $296.6 million of the outstanding aggregate principal amount of its 2025 Senior Notes.

At July 2, 2022, the fair value of the 2032, 2027, and 2025 Senior Notes was approximately $409.0 million, $383.0 million, and $304.1 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 Level 2 measurements within the fair value hierarchy. At July 3, 2021, the fair value of the 2027, 2022 and 2025 Senior Notes was approximately $659.3 million, $407.4 million and $651.9 million, respectively.

$900.0 Million 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 (“900.0 Million Revolving Credit Facility”), including sub-facilities for letters of credit, with a maturity date of October 24, 2024. The $900 Million 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 $900.0 Million Revolving Credit Facility as described below.

Borrowings under the $900.0 Million 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.

On May 19, 2020, the Company entered into Amendment No. 1 (the “Amendment”) to the $900.0 Million Revolving Credit Facility under the terms of the Amendment, during the period from the Effective Date until October 2, 2021, the Company must maintain available liquidity of $700 million (with available liquidity defined as the sum of unrestricted cash and cash equivalents and available commitments under credit facilities, including the $900.0 Million Revolving Credit Facility). This requirement, among others that the Company was subject to during the period from the Effective Date until the compliance certificate was delivered for the fiscal quarter ending July 3, 2021 (the “Covenant Relief Period”), has been fulfilled. Going forward, the Company must comply on a quarterly basis with a maximum net leverage ratio of 4.0 to 1.0. The $900 million aggregate commitment amount under the Revolving Credit Facility remained unchanged under the amendment. However, on

May 11, 2022, the $900 Million Revolving Credit Facility was replaced by the $1.25 Billion Revolving Credit Facility described above under, "$1.25 Billion Revolving Credit Facility and $500.0 Million Term Loan".

Debt Maturities

As of July 2, 2022 the debt maturities for the next five fiscal years and thereafter are as follows:


	Principal
	(millions)
2023	$	31.2
2024	25.0
2025	328.4
2026	25.0
2027	393.8
Thereafter	896.6
Total	$	1,700.0

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Jul. 02, 2022
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 $37.8 million and $40.5 million outstanding at July 2, 2022 and July 3, 2021, respectively. The agreements, which expire at various dates through calendar 2028, 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 letters of credit that are issued. Tax Legislation The Tax Legislation requires the Company to pay a one-time tax, or Transition Tax, on previously unremitted earnings of certain non-U.S. subsidiaries. The Company expects to pay approximately $127.1 million related to the remaining obligation on the Transition Tax. Refer to Note 15, "Income Taxes," for more information related to the impact of the Tax Legislation. Other The Company had other contractual cash obligations as of July 2, 2022, including $460.7 million related to inventory purchase obligations, $49.7 million related to capital expenditure and cloud computing implementation commitments, $323.5 million of other purchase obligations, $1.70 billion of debt repayments, $4.1 million of finance lease obligations and $347.5 million of interest payments on the outstanding debt. Refer to Note 9, "Leases," for a summary of the Company's future minimum rental payments under non-cancelable leases. The Company is involved in various legal proceedings as both plaintiff and defendant, including proceedings to protect Tapestry, Inc.'s intellectual property rights, litigation instituted by persons alleged to have been injured by advertising claims or upon premises within the Company's control, contract disputes, insurance claims and litigation with present or former employees. As part of Tapestry’s policing program for its intellectual property rights, from time to time, the Company files lawsuits in the U.S. and abroad alleging acts of trademark counterfeiting, trademark infringement, patent infringement, trade dress infringement, copyright infringement, unfair competition, trademark dilution and/or state or foreign law claims. At any given point in time, Tapestry may have a number of such actions pending. These actions often result in seizure of counterfeit merchandise and/or out of court settlements with defendants. From time to time, defendants will raise, either as affirmative defenses or as counterclaims, the invalidity or unenforceability of certain of Tapestry’s intellectual properties. Although the Company's litigation as described above is incidental to the conduct of Tapestry’s business, such litigation can result in large monetary awards, such as when a civil jury is allowed to determine compensatory and/or punitive damages. The Company believes that the outcome of all pending legal proceedings in the aggregate will not have a material effect on the Company's business or consolidated financial statements.

Goodwill and Other Intangible Assets

12 Months Ended

Jul. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

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.

The Company determined there was no impairment in fiscal 2022 and fiscal 2021 based on the annual assessment and no events occurring that would more likely than not reduce the fair value below its carrying amount.

During the third quarter of fiscal 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 the Company's stores and the Company's wholesale partners globally. As a result of these macroeconomic conditions, the Company concluded that a triggering event had occurred during the third quarter of fiscal year 2020, 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, during the three months ended March 28, 2020, 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 Consolidated Statement of Operations for fiscal 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 during the three months ended March 28, 2020. The Company determined there was no impairment during the fiscal 2020 annual impairment assessment.

Goodwill

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


	Coach		Kate Spade		Stuart Weitzman (1)		Total
	(millions)
Balance at June 27, 2020	$	661.7	$	639.4	$	—	$	1,301.1



Foreign exchange impact	(5.4)		1.6		—		(3.8)

Balance at July 3, 2021	656.3		641.0		—		1,297.3




Foreign exchange impact	(47.2)		(8.6)		—		(55.8)
Balance at July 2, 2022	$	609.1	$	632.4	$	—	$	1,241.5

(1) Amount is net of accumulated goodwill impairment charges of $210.7 million as of July 2, 2022, July 3, 2021 and June 27, 2020.

Intangible Assets

Intangible assets consist of the following:


	Fiscal Year Ended
	July 2, 2022						July 3, 2021
	Gross Carrying Amount		Accum. Amort.		Net		Gross Carrying Amount		Accum. Amort.		Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	100.3	$	(43.5)	$	56.8	$	100.5	$	(36.9)	$	63.6

Total intangible assets subject to amortization	100.3		(43.5)		56.8		100.5		(36.9)		63.6
Intangible assets not subject to amortization:
Trademarks and trade names	1,309.8		—		1,309.8		1,309.8		—		1,309.8
Total intangible assets	$	1,410.1	$	(43.5)	$	1,366.6	$	1,410.3	$	(36.9)	$	1,373.4

As of July 2, 2022, the expected amortization expense for intangible assets is as follows:


	Amortization Expense
	(millions)
Fiscal 2023	$	6.5
Fiscal 2024	6.5
Fiscal 2025	6.5
Fiscal 2026	6.5
Fiscal 2027	6.5
Thereafter	24.3
Total	$	56.8

The expected future amortization expense above reflects remaining useful lives ranging from approximately 7.8 years to 10.0 years for customer relationships.

Income Taxes

12 Months Ended

Jul. 02, 2022

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The provisions for income taxes, computed by applying the U.S. statutory rate to income before taxes, as reconciled to the actual provisions were:


	Fiscal Year Ended
	July 2, 2022				July 3, 2021				June 27, 2020
	Amount		Percentage		Amount		Percentage		Amount		Percentage
	(millions)
Income before provision for income taxes:
United States(1)	$	392.0	37.4	%	$	341.0	38.0	%	$	(496.4)	79.5	%
Foreign	655.0		62.6		556.3		62.0		(127.8)		20.5
Total income before provision for income taxes	$	1,047.0	100.0	%	$	897.3	100.0	%	$	(624.2)	100.0	%

Tax expense at U.S. statutory rate	$	219.9	21.0	%	$	188.4	21.0	%	$	(131.1)	21.0	%
State taxes, net of federal benefit	15.8		1.5		18.0		2.0		3.9		(0.6)
Effects of foreign operations(2)	(3.5)		(0.3)		6.5		0.7		89.8		(14.4)
Effects of tax credits and reorganization(3)	(49.8)		(4.8)		(94.5)		(10.5)		(28.6)		4.6
Effects of Impairment(4)	—		—		—		—		91.7		(14.7)
Change in state valuation allowance	—		—		11.5		1.3		1.6		(0.3)
Impact of net operating loss carryback			—		(65.4)		(7.3)		(8.3)		1.3
Other, net	8.3		0.8		(1.4)		(0.2)		8.9		(1.4)
Taxes at effective worldwide rates	$	190.7	18.2	%	$	63.1	7.0	%	$	27.9	(4.5)	%

(1)The United States jurisdiction includes foreign pre-tax earnings allocated to the Company from its interest in a foreign partnership.

(2)This includes the tax related to the Global Intangible Low-Taxed Income ("GILTI"). The Company has elected to account for the tax associated with GILTI as a period cost, and accordingly, the Company has not recorded deferred taxes associated with GILTI.

(3) Fiscal 2021 is comprised primarily of $60.9 million of U.S. federal foreign tax credits generated in fiscal 2021.

(4) This item represents the effective tax rate impact of the Stuart Weitzman Goodwill and indefinite-lived brand intangible impairment activity recorded in fiscal 2020.

Current and deferred tax provision (benefit) was:


	Fiscal Year Ended
	July 2, 2022				July 3, 2021				June 27, 2020
	Current		Deferred		Current		Deferred		Current		Deferred
	(millions)
Federal	$	104.0	$	13.9	$	(80.0)	$	57.3	$	74.1	$	(88.7)
Foreign	46.6		11.2		63.8		(9.4)		68.8		(30.9)
State	10.7		4.3		26.7		4.7		0.7		3.9
Total current and deferred tax provision (benefit)	$	161.3	$	29.4	$	10.5	$	52.6	$	143.6	$	(115.7)

The components of deferred tax assets and liabilities were:


	July 2, 2022		July 3, 2021
	(millions)
Share-based compensation	$	26.1	$	28.6
Reserves not deductible until paid	51.1		46.4

Employee benefits	36.7		43.6
Net operating loss	74.7		88.6
Other	19.6		19.6



Inventory	28.8		33.0
Lease liability	335.3		418.1
Gross deferred tax assets	572.3		677.9
Valuation allowance	51.6		65.9
Deferred tax assets after valuation allowance	$	520.7	$	612.0

Goodwill	69.1		85.4
Other intangibles	309.6		303.7
Property and equipment	11.3		20.3
Foreign investments	23.5		14.4
Right-of-use	280.4		324.6
Prepaid expenses	0.6		1.9


Gross deferred tax liabilities	694.5		750.3
Net deferred tax (liabilities) assets	$	(173.8)	$	(138.3)

Consolidated Balance Sheets Classification

Deferred income taxes – noncurrent asset	47.9		65.6

Deferred income taxes – noncurrent liability	(221.7)		(203.9)
Net deferred tax (liabilities) assets	$	(173.8)	$	(138.3)

Significant judgment is required in determining the worldwide provision for income taxes, and there are many transactions for which the ultimate tax outcome is uncertain. It is the Company’s policy to establish provisions for taxes that may become payable in future years, including those due to an examination by tax authorities. The Company establishes the provisions based upon management’s assessment of exposure associated with uncertain tax positions. The provisions are analyzed at least quarterly and adjusted as appropriate based on new information or circumstances in accordance with the requirements of ASC 740.

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:


	July 2, 2022		July 3, 2021		June 27, 2020
	(millions)
Balance at beginning of fiscal year	$	111.4	$	88.5	$	85.8
Gross increase due to tax positions related to prior periods	1.6		38.3		11.2
Gross decrease due to tax positions related to prior periods	(11.7)		(9.4)		(1.6)
Gross increase due to tax positions related to current period	7.4		6.8		6.8
Decrease due to lapse of statutes of limitations	(10.9)		(12.0)		(8.6)
Decrease due to settlements with taxing authorities	(1.7)		(0.8)		(5.1)

Balance at end of fiscal year	$	96.1	$	111.4	$	88.5

Of the $96.1 million ending gross unrecognized tax benefit balance as of July 2, 2022, $88.3 million relates to items which, if recognized, would impact the effective tax rate. Of the $111.4 million ending gross unrecognized tax benefit balance as of July 3, 2021, $98.1 million relates to items which, if recognized, would impact the effective tax rate. As of July 2, 2022 and July 3, 2021, gross interest and penalties payable was $8.2 million and $10.1 million, respectively, which are included in Other liabilities. During fiscal 2022, fiscal 2021 and fiscal 2020, the Company recognized gross interest and penalty income of $1.5 million, gross interest and penalty expense of $0.8 million and gross interest and penalty income of $1.2 million, respectively.

The Company files income tax returns in the U.S. federal jurisdiction, as well as various state and foreign jurisdictions. Tax examinations are currently in progress in select foreign and state jurisdictions that are extending the years open under the statutes of limitation. Fiscal years 2018 to present are open to examination in the U.S. federal jurisdiction, fiscal 2016 to present in select state jurisdictions and fiscal 2015 to present in select foreign jurisdictions. The Company is currently under U.S. federal audit for fiscal 2018. The Company anticipates that one or more of these audits may be finalized and certain statutes of limitation may expire in the foreseeable future. However, based on the status of these examinations, and the average time typically incurred in finalizing audits with the relevant tax authorities, the Company cannot reasonably estimate the impact these audits may have in the next 12 months, if any, to previously recorded uncertain tax positions. The Company accrues for certain known and reasonably anticipated income tax obligations after assessing the likely outcome based on the weight of available evidence. Although the Company believes that the estimates and assumptions used are reasonable and legally supportable, the final determination of tax audits could be different than that which is reflected in historical income tax provisions and recorded assets and liabilities. With respect to all jurisdictions, the Company has made adequate provision for all income tax uncertainties.

As of July 2, 2022, the Company had the following tax loss carryforwards available: U.S. state tax loss carryforwards of $706.0 million and tax loss carryforwards of various foreign jurisdictions of $123.9 million. As of July 3, 2021, the Company had the following tax loss carryforwards available: U.S. state tax loss carryforwards of $705.6 million and tax loss carryforwards of various foreign jurisdictions of $211.7 million. The state net operating loss carryforwards generally start to expire in fiscal 2023, respectively. The majority of the foreign net operating loss can be carried forward indefinitely. Deferred tax assets, including the deferred tax assets recognized on these net operating losses, have been reduced by a valuation allowance of $51.6 million as of July 2, 2022 and $65.9 million as of July 3, 2021.

The Company is not permanently reinvested with respect to the earnings of a limited number of foreign entities and has recorded the tax consequences of remitting earnings from these entities. The Company is permanently reinvested with respect to all other earnings. The total estimated amount of unremitted earnings of foreign subsidiaries as of July 2, 2022 and July 3, 2021 was $747.6 million and $1.01 billion, respectively. The Company intends to distribute $525.5 million of earnings that were previously subject to U.S. Federal Tax and has recorded a deferred tax liability of $1.9 million during fiscal 2022 for U.S. state taxes and foreign withholding taxes related to the future distribution. Based on the Company's current analysis, there is further unrecognized deferred tax liability of approximately $2 to $4 million on the remaining unremitted earnings.

Transition Tax

The Company is required to pay a one-time Transition Tax on previously unremitted earnings of certain non-U.S. subsidiaries. The Company has elected to pay the Transition Tax in installments. As shown in the table below, the remaining Transition Tax payable is $127.1 million and is payable between fiscal 2023 and fiscal 2025.


	Transition Tax Payments
	(millions)


Fiscal 2023	$	31.8
Fiscal 2024	42.4
Fiscal 2025	52.9

Total	$	127.1

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Defined Contribution Plan	12 Months Ended
Defined Contribution Plan	Jul. 02, 2022
Retirement Benefits [Abstract]
Defined Contribution Plan	DEFINED CONTRIBUTION PLANThe Company maintains the Tapestry, Inc. 401(k) Savings Plan, which is a defined contribution plan. Employees who meet certain eligibility requirements and are not part of a collective bargaining agreement may participate in this program. The annual expense incurred by the Company for this defined contribution plan was $11.8 million, $10.6 million and $12.3 million in fiscal 2022, fiscal 2021 and fiscal 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Segment Information

12 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company has three reportable segments:

•Coach - Includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-shops, and 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 e-commerce sites, 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 primarily through Stuart Weitzman operated stores, including e-commerce sites, 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 fiscal 2022, fiscal 2021 and fiscal 2020:


	Coach		Kate Spade		Stuart Weitzman		Corporate(1)		Total
	(millions)
Fiscal 2022
Net sales	$	4,921.3	$	1,445.5	$	317.7	$	—	$	6,684.5
Gross profit(2)	3,553.8		912.0		184.6		—		4,650.4
Operating income (loss)	1,473.9		157.4		1.8		(457.3)		1,175.8
Income (loss) before provision for income taxes	1,473.9		157.4		1.8		(586.1)		1,047.0
Depreciation and amortization expense(3)	110.1		48.5		10.3		26.4		195.3
Total assets	2,392.2		2,641.3		269.3		1,962.5		7,265.3
Additions to long-lived assets(4)	52.3		14.2		2.6		92.5		161.6


Fiscal 2021
Net sales	$	4,253.1	$	1,210.0	$	283.2	$	—	$	5,746.3
Gross profit(2)	3,149.0		768.4		164.5		—		4,081.9
Operating income (loss)	1,312.1		108.5		(8.6)		(444.0)		968.0
Income (loss) before provision for income taxes	1,312.1		108.5		(8.6)		(514.7)		897.3
Depreciation and amortization expense(3)	102.2		46.8		13.3		58.2		220.5
Total assets	2,513.5		2,707.3		298.6		2,863.0		8,382.4
Additions to long-lived assets(4)	37.3		13.5		3.4		61.8		116.0


Fiscal 2020
Net sales	$	3,525.7	$	1,149.5	$	286.2	$	—	$	4,961.4
Gross profit(2)	2,411.6		682.9		144.8		—		3,239.3
Operating income (loss)	589.4		(99.3)		(621.4)		(419.5)		(550.8)
Income (loss) before provision for income taxes	589.4		(99.3)		(621.4)		(492.9)		(624.2)
Depreciation and amortization expense(3)	159.1		97.8		518.8		53.5		829.2
Total assets	2,616.6		2,769.2		305.1		2,233.3		7,924.2
Additions to long-lived assets(4)	75.7		62.0		14.3		54.4		206.4

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

(2) For the fiscal year ended July 3, 2021, gross profit reflects a reduction of expense recorded within Cost of sales of $8.1 million within the Coach segment due to the reversal of raw material reserves, which were established in fiscal 2020 as a result of the projected impact of Covid-19. For the fiscal year ended June 27, 2020, 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 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 Consolidated Statement of Cash Flows.

(3) For the fiscal year ended July 3, 2021, depreciation and amortization expense includes $1.8 million of Acceleration Program costs, respectively. For the fiscal year ended June 27, 2020, depreciation and amortization expense included $0.4 million of Integration & Acquisition costs as well as impairment charges of $44.6 million for Coach, $36.0 million for Kate Spade and $499.9 million for Stuart Weitzman. Refer to Note 11, "Fair Value Measurements," and Note 14, "Goodwill and

Other Intangible Assets" 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 include costs for assets that will be capitalized within Property and equipment, net, and costs relating to cloud computing implementation costs. Cloud computing implementation costs are recognized within Prepaid expenses and Other assets on the Consolidated Balance Sheets. Brand additions include costs that are specific for the brand and corporate additions include all other assets which includes 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.

The following table shows net sales for each product category represented:


	Fiscal Year Ended
	July 2, 2022				July 3, 2021				June 27, 2020
	Amount		% of total net sales		Amount		% of total net sales		Amount		% of total net sales
	(millions)
Coach
Women's Handbags	$	2,574.8	38	%	$	2,302.3	40	%	$	1,852.0	37	%
Women's Accessories	942.5		14		776.7		14		645.4		13
Men's	904.8		14		769.3		13		688.0		14
Other Products	499.2		7		404.8		7		340.3		7
Total Coach	$	4,921.3	73	%	$	4,253.1	74	%	$	3,525.7	71	%
Kate Spade
Women's Handbags	$	819.5	12	%	$	681.5	12	%	$	648.9	13	%
Other Products	319.0		5		269.3		5		260.0		5
Women's Accessories	307.0		5		259.2		4		240.6		5
Total Kate Spade	$	1,445.5	22	%	$	1,210.0	21	%	$	1,149.5	23	%
Stuart Weitzman(1)	$	317.7	5	%	$	283.2	5	%	$	286.2	6	%
Total Net sales	$	6,684.5	100	%	$	5,746.3	100	%	$	4,961.4	100	%

(1)The significant majority of sales for the Stuart Weitzman brand is attributable to women's footwear.

Geographic Area Information

Geographic revenue information is based on the location of our customer sale. Geographic long-lived asset information is based on the physical location of the assets at the end of each fiscal year and includes property and equipment, net, right of use assets and other assets.


	United States		Japan		Greater China(2)		Other(3)		Total
	(millions)
Fiscal 2022
Net sales(1)	$	4,174.3	$	578.8	$	1,026.6	$	904.8	$	6,684.5
Long-lived assets	1,578.9		94.0		131.0		231.6		2,035.5
Fiscal 2021
Net sales(1)	$	3,365.9	$	598.9	$	1,094.1	$	687.4	$	5,746.3
Long-lived assets	1,722.2		132.0		125.7		290.8		2,270.7
Fiscal 2020
Net sales(1)	$	2,839.7	$	602.9	$	730.3	$	788.5	$	4,961.4
Long-lived assets	1,933.6		166.0		156.0		379.0		2,634.6

(1)Includes net sales from our global travel retail business in locations within the specified geographic area.

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

(3)Other includes sales in Europe, Canada, Malaysia, Australia and New Zealand, South Korea, Singapore, and royalties earned from the Company's licensing partners.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Earnings Per Share

12 Months Ended

Jul. 02, 2022

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:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021		June 27, 2020
	(millions, except per share data)
Net income (loss)	$	856.3	$	834.2	$	(652.1)

Weighted-average basic shares	264.3		277.9		278.6
Dilutive securities:
Effect of dilutive securities(1)	5.8		5.1		—
Weighted-average diluted shares	270.1		283.0		278.6

Net income (loss) per share:
Basic	$	3.24	$	3.00	$	(2.34)
Diluted	$	3.17	$	2.95	$	(2.34)

(1) There was no dilutive effect for fiscal year 2020 as the impact of these items would be anti-dilutive as a result of the net loss incurred during the period.

At July 2, 2022, options to purchase 5.4 million shares of common stock were outstanding but not included in the computation of diluted earnings per share, as these options’ exercise prices, ranging from $33.46 to $58.54, were greater than the average market price of the common shares.

At July 3, 2021, options to purchase 3.7 million shares of common stock were outstanding but not included in the computation of diluted earnings per share, as these options’ exercise prices, ranging from $44.97 to $78.46, were greater than the average market price of the common shares.

At June 27, 2020, options to purchase 15.0 million shares of common stock were outstanding but not included in the computation of diluted earnings per share, as these options’ exercise prices, ranging from $15.38 to $78.46, were greater than the average market price of the common shares.

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 (loss) 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 July 2, 2022, July 3, 2021 and June 27, 2020, there were approximately 6.9 million, 5.0 million, and 16.2 million, respectively, of 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.

Related Parties	12 Months Ended
Related Parties	Jul. 02, 2022
Related Party Transactions [Abstract]
Related Parties	RELATED PARTIESThe Stuart Weitzman brand owns approximately 50% of a factory located in Spain, which is involved in the production of Stuart Weitzman inventory. Payments to this factory represented $15.6 million and $17.9 million in fiscal 2022 and fiscal 2021, respectively. Amounts payable to this factory were not material at July 2, 2022 or July 3, 2021.

Supplemental Balance Sheet Information

12 Months Ended

Jul. 02, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Balance Sheet Information

SUPPLEMENTAL BALANCE SHEET INFORMATION

The components of certain balance sheet accounts are as follows:


	July 2, 2022		July 3, 2021
	(millions)




Property and equipment
Land and building	$	8.0	$	8.0
Machinery and equipment	50.1		46.9
Software and computer equipment	584.7		601.6
Furniture and fixtures	310.7		320.9
Leasehold improvements	738.2		799.2
Construction in progress	40.4		45.6
Less: accumulated depreciation	(1,187.7)		(1,144.1)
Total property and equipment, net	$	544.4	$	678.1
Accrued liabilities
Payroll and employee benefits	$	212.4	$	216.1
Accrued rent	18.9		20.0
Accrued income taxes	35.8		52.0
Accrued freight	80.4		48.9
Operating expenses	280.7		324.2
Total accrued liabilities	$	628.2	$	661.2
Other liabilities
Deferred lease obligation	$	46.0	$	62.2
Gross unrecognized tax benefit	96.1		111.4
Other	110.4		76.1
Total other liabilities	$	252.5	$	249.7

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Jul. 02, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Schedule II — Valuation and Qualifying Accounts

For the Fiscal Years Ended July 2, 2022, July 3, 2021 and June 27, 2020


	Balance at Beginning of Year		Additions Charged to Costs and Expenses		Write-offs/ Allowances Taken		Balance at End of Year
	(millions)
Fiscal 2022
Allowance for credit losses	$	4.2	$	19.9	$	(20.4)	$	3.7
Allowance for returns	18.7		8.8		(16.3)		11.2
Allowance for markdowns	11.4		13.6		(13.4)		11.6
Valuation allowance	65.9		—		(14.3)		51.6
Total	$	100.2	$	42.3	$	(64.4)	$	78.1
Fiscal 2021
Allowance for credit losses	$	15.9	$	2.8	$	(14.5)	$	4.2
Allowance for returns	19.3		18.6		(19.2)		18.7
Allowance for markdowns	9.7		16.6		(14.9)		11.4
Valuation allowance	39.6		27.7		(1.4)		65.9
Total	$	84.5	$	65.7	$	(50.0)	$	100.2
Fiscal 2020
Allowance for credit losses	$	4.4	$	26.0	$	(14.5)	$	15.9
Allowance for returns	10.6		29.1		(20.4)		19.3
Allowance for markdowns	17.8		39.9		(48.0)		9.7
Valuation allowance	32.9		9.3		(2.6)		39.6
Total	$	65.7	$	104.3	$	(85.5)	$	84.5

Basis of Presentation and Organization (Policies)	12 Months Ended
Basis of Presentation and Organization (Policies)	Jul. 02, 2022
Accounting Policies [Abstract]
Fiscal Year	Fiscal Year The Company’s fiscal year ends on the Saturday closest to June 30. Unless otherwise stated, references to years in the financial statements relate to fiscal years. The fiscal year ended July 2, 2022 (“fiscal 2022”) was a 52-week period. The fiscal year ended July 3, 2021 (“fiscal 2021”) was a 53-week period and the fiscal year ended June 27, 2020 (“fiscal 2020”) was a 52-week period. The fiscal year ending July 1, 2023 (“fiscal 2023”) will be a 52-week period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the 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 consolidated financial statements include reserves for the realizability of inventory; asset retirement obligations; customer returns, end-of-season markdowns and operational chargebacks; useful lives and impairments of long-lived tangible and intangible assets; accounting for income taxes 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.
Principles of Consolidation	Principles of Consolidation The 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.
Share Repurchases	Share RepurchasesThe Company accounts for stock repurchases by allocating the repurchase price to common stock and retained earnings. Under Maryland law, the Company's state of incorporation, there are no treasury shares. All repurchased shares are authorized but unissued shares and these shares may be issued in the future for general corporate and other purposes. The Company may terminate or limit the stock repurchase program at any time. 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 purchase agreements under Rule 10b5-1.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash balances and highly liquid investments with a maturity of three months or less at the date of purchase.
Investments	Investments Short-term investments consist primarily of high-credit quality U.S. and non-U.S. issued corporate debt securities, and U.S. Treasuries and government agency securities with original maturities greater than three months and with maturities within one year of balance sheet date, classified as available-for-sale. Long-term investments typically consist of high-credit quality U.S. and non-U.S. issued corporate debt securities, U.S. Treasuries and government agency securities, classified as available-for-sale, and recorded at fair value, with unrealized gains and losses recorded in other comprehensive income. Dividend and interest income are recognized when earned. Additionally, GAAP requires the consolidation of all entities for which a Company has a controlling voting interest and all variable interest entities (“VIEs”) for which a Company is deemed to be the primary beneficiary. An entity is generally a VIE if it meets any of the following criteria: (i) the entity has insufficient equity to finance its activities without additional subordinated financial support from other parties, (ii) the equity investors cannot make significant decisions about the entity’s operations or (iii) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity or receive the expected returns of the entity and substantially all of the entity’s activities involve or are conducted on behalf of the investor with disproportionately few voting rights.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially expose the Company to concentration of credit risk consist primarily of Cash and cash equivalents, investments and accounts receivable. The Company places its cash investments with high-credit quality financial institutions and generally invests primarily in corporate debt securities, money market instruments, U.S. government and agency debt securities, commercial paper and bank deposits placed with major banks and financial institutions. Accounts receivable is generally diversified due to the number of entities comprising the Company's customer base and their dispersion across many geographical regions. The Company believes no significant concentration of credit risk exists with respect to these investments and accounts receivable.
Inventories	InventoriesThe Company holds inventory that is sold through retail, including e-commerce, and wholesale distribution channels. Substantially all of the Company's Inventories are comprised of finished goods, and are reported at the lower of cost or net realizable value. Inventory costs include material, conversion costs, freight and duties and are primarily determined on a weighted-average cost basis. The Company reserves for inventory, including slow-moving and aged inventory, based on current product demand, expected future demand and historical experience. A decrease in product demand due to changing customer tastes, buying patterns or increased competition could impact the Company's evaluation of its inventory and additional reserves might be required.
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net is stated at cost less accumulated depreciation including the impact of long-lived asset impairment and disposals. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Buildings are depreciated over 40 years and building improvements are depreciated over ten to 40 years. Machinery and equipment are depreciated over lives of five to seven years, furniture and fixtures are depreciated over lives of three to ten years, and software and computer equipment is generally depreciated over lives of three to seven years. Implementation costs eligible for capitalization related to cloud computing arrangements that are a service contract are recorded within Prepaid expenses and Other non-current assets in the Consolidated Balance Sheets and amortized as Selling, general and administrative ("SG&A") expense in the Consolidated Statement of Operations over the term of the associated hosting arrangement. Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease terms. Maintenance and repair costs are charged to earnings as incurred while expenditures for major renewals and improvements are capitalized.
Valuation of Long-Lived Assets	Valuation of Long-Lived Assets Long-lived assets, such as Property and equipment and Operating lease right-of-use ("ROU") assets are evaluated for impairment whenever events or circumstances indicate that the carrying value of the assets may not be recoverable. In evaluating long-lived assets for recoverability, the Company uses its best estimate of future cash flows expected to result from the use of the related asset group and its eventual disposition. To the extent that estimated future undiscounted net cash flows attributable to the asset are less than its carrying value, an impairment loss is recognized equal to the difference between the carrying value of such asset and its fair value, considering external market participant assumptions. The Company recorded $4.0 million and $60.9 million of impairment charges in fiscal 2022 and fiscal 2021, respectively. In determining future cash flows, the Company takes various factors into account, including the effects of macroeconomic trends such as consumer spending, in-store capital investments, promotional cadence, the level of advertising and changes in merchandising strategy. Since the determination of future cash flows is an estimate of future performance, there may be future impairments in the event that future cash flows do not meet expectations.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Upon acquisition, the Company estimates and records the fair value of purchased intangible assets, which primarily consists of brands, customer relationships, right-of-use assets and order backlog. Goodwill and certain other intangible assets deemed to have indefinite useful lives, including brand intangible assets, are not amortized, but are assessed for impairment at least annually. Finite-lived intangible assets are amortized over their respective estimated useful lives and, along with other long-lived assets as noted above, are evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying values may not be fully recoverable. Estimates of fair value for finite-lived and indefinite-lived intangible assets are primarily determined using discounted cash flows and the multi-period excess earnings method, respectively, with consideration of market comparisons when appropriate. This approach uses significant estimates and assumptions, including projected future cash flows, discount rates and growth rates. The Company generally performs its annual goodwill and indefinite-lived intangible assets impairment analysis using a quantitative approach. The quantitative goodwill impairment test identifies the existence of potential impairment by comparing the fair value of each reporting unit with its carrying value, including goodwill. If the fair value of a reporting unit exceeds its carrying value, the reporting unit's goodwill is considered not to be impaired. If the carrying value of a reporting unit exceeds its fair value, an impairment charge is recognized in an amount equal to that excess. The impairment charge recognized is limited to the amount of goodwill allocated to that reporting unit. Determination of the fair value of a reporting unit and intangible asset is based on management's assessment, considering independent third-party appraisals when necessary. Furthermore, this determination is judgmental in nature and often involves the use of significant estimates and assumptions, which may include projected future cash flows, discount rates, growth rates, and determination of appropriate market comparables and recent transactions. These estimates and assumptions could have a significant impact on whether or not an impairment charge is recognized and the amount of any such charge. The Company performs its annual impairment assessment of goodwill as well as brand intangibles during 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.
Operating Leases	Operating Leases The Company leases retail space, office space, warehouse facilities, fulfillment centers, storage space, machinery, equipment and certain other items under operating leases. 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 right-of-use ("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. Per the guidance, the use of the implicit rate to determine the present value of lease payments is required. 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 Company's credit rating, credit spread and adjustments for the impact of collateral, lease tenors, economic environment and currency. 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 Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. Asset retirement obligations represent legal obligations associated with the retirement of a tangible long-lived asset. The Company’s asset retirement obligations are primarily associated with leasehold improvements in which the Company is contractually obligated to remove at the end of a lease to comply with the lease agreement. When such an obligation exists, the Company recognizes an asset retirement obligation at the inception of a lease at its estimated fair value. The asset retirement obligation is recorded in current liabilities or non-current liabilities (based on the expected timing of payment of the related costs) and is subsequently adjusted for any changes in estimates. The associated estimated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset and depreciated over its useful life.
Revenue Recognition	Revenue Recognition Revenue is recognized when the Company satisfies its performance obligations by transferring control of promised products or services to its customers, which may be at a point of 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. Retail store and concession shop-in-shop revenues are recognized at the point-of-sale, when the customer obtains physical possession of the products. Digital 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 digital 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. 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. Wholesale revenue is recorded net of estimates for returns, discounts, end-of-season markdowns, cooperative advertising allowances and other consideration provided to the customer. 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. Gift cards issued by the Company are recorded as a liability until they are redeemed, 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 accounts for sales taxes and other related taxes on a net basis, excluding such taxes from revenue.
Cost of Sales	Cost of Sales Cost of sales consists of inventory costs and other related costs such as reserves for inventory realizability and shrinkage, damages and replacements.
Selling, General and Administrative (SG&A) Expenses	Selling, General and Administrative ("SG&A") Expenses Selling expenses include store employee compensation, occupancy costs, depreciation, supply costs, wholesale and retail account administration compensation globally. These expenses are affected by the number of stores open during any fiscal period and store performance, as compensation and rent expenses can vary with sales. Advertising, marketing and design expenses include employee compensation, media space and production, advertising agency fees, new product design costs, public relations and market research expenses. Distribution and customer service expenses include warehousing, order fulfillment, shipping and handling, customer service, employee compensation and bag repair costs. SG&A expenses also include compensation costs for corporate functions including: executive, finance, human resources, legal and information systems departments, as well as corporate headquarters occupancy costs, consulting fees and software expenses.
Shipping and Handling	Shipping and HandlingShipping and handling costs incurred were $230.8 million, $178.6 million and $128.1 million in fiscal 2022, fiscal 2021 and fiscal 2020, respectively, and are included in SG&A expenses. The Company includes inbound product-related transportation costs from manufacturers within Cost of sales. The balance of the Company's transportation-related costs related to its distribution network is included in SG&A expenses rather than in Cost of sales.
Advertising	AdvertisingAdvertising costs include expenses related to direct marketing activities, such as digital and other media and production costs.
Share-Based Compensation	Share-Based Compensation The Company recognizes the cost of equity awards to employees and the non-employee Directors based on the grant-date fair value of those awards. The grant-date fair values of share unit awards are based on the fair value of the Company's common stock on the date of grant. The grant-date fair value of stock option awards is determined using the Black-Scholes option pricing model and involves several assumptions, including the expected term of the option, expected volatility and dividend yield. The expected term of options represents the period of time that the options granted are expected to be outstanding and is based on historical experience. Expected volatility is based on historical volatility of the Company’s stock as well as the implied volatility from publicly traded options on the Company's stock. Dividend yield is based on the current expected annual dividend per share and the Company’s stock price. Changes in the assumptions used to determine the Black-Scholes value could result in significant changes in the Black-Scholes value. The Company recognizes share-based compensation net of estimated forfeitures and revises the estimates in subsequent periods if actual forfeitures differ from the estimates. The Company estimates the forfeiture rate based on historical experience as well as expected future behavior. The Company grants performance-based share awards to key executives, the vesting of which is subject to the executive’s continuing employment and the Company's or individual's achievement of certain performance goals. On a quarterly basis, the Company assesses actual performance versus the predetermined performance goals, and adjusts the share-based compensation expense to reflect the relative performance achievement. Actual distributed shares are calculated upon conclusion of the service and performance periods, and include dividend equivalent shares. If the performance-based award incorporates a market condition, the grant-date fair value of such award is determined using a pricing model, such as a Monte Carlo Simulation.
Income Taxes	Income Taxes The Company’s effective tax rate is based on pre-tax income, statutory tax rates, tax laws and regulations, and tax planning strategies available in the various jurisdictions in which the Company operates. The Company classifies interest and penalties on uncertain tax positions in the Provision for income taxes. The Company records net deferred tax assets to the extent it believes that it is more likely than not that these assets will be realized. In making such determination, the Company considers all available evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent and expected future results of operation. The Company reduces deferred tax assets by a valuation allowance if, based upon the weight of available evidence, it is more likely than not that some amount of deferred tax assets is not expected to be realized. The Company is not permanently reinvested with respect to earnings of a limited number of foreign entities and has recorded the tax consequences of remitting earnings from these entities. The Company is permanently reinvested with respect to all other earnings. The Company recognizes the impact of tax positions in the financial statements if those positions will more likely than not be sustained on audit, based on the technical merits of the position. Although the Company believes that the estimates and assumptions used are reasonable and legally supportable, the final determination of tax audits could be different than that which is reflected in historical tax provisions and recorded assets and liabilities. Tax authorities periodically audit the Company’s income tax returns and the tax authorities may take a contrary position that could result in a significant impact on the Company's results of operations. Significant management judgment is required in determining the effective tax rate, in evaluating tax positions and in determining the net realizable value of deferred tax assets.
Derivative Instruments	Derivative Instruments The majority of the Company’s purchases of finished goods are denominated in U.S. dollars, which limits the Company’s exposure to the transactional effects of foreign currency exchange rate fluctuations. However, the Company is exposed to foreign currency exchange risk related to its sale of U.S. dollar inventory to foreign operating subsidiaries in local currency, as well as risk related to various cross-currency intercompany loans and payables, and translation risk. The Company is also exposed to foreign currency risk related to changes in the U.S. dollar value of its net investment in foreign subsidiaries. The Company uses derivative financial instruments to manage these risks. These derivative transactions are in accordance with the Company’s risk management policies. The Company does not enter into derivative transactions for speculative or trading purposes. The Company records all derivative contracts at fair value on the Consolidated Balance Sheets. The fair values of foreign currency derivatives are based on the forward curves of the specific indices upon which settlement is based and include an adjustment for the Company’s credit risk. Judgment is required of management in developing estimates of fair value. The use of different market assumptions or methodologies could affect the estimated fair value. For derivative instruments that qualify for hedge accounting, the changes in the fair value of these instruments are either (i) offset against the changes in fair value of the hedged assets or liabilities through earnings or (ii) recognized as a component of Accumulated other comprehensive income (loss) ("AOCI") until the hedged item is recognized in earnings, depending on whether the derivative is being used to hedge changes in fair value or cash flows. For derivative instruments that are designated as a net investment hedge, the changes in the fair value of the instruments are recognized as a component of AOCI, and upon discontinuation of the hedge remain in AOCI until the net investment is sold or liquidated. Each derivative instrument entered into by the Company that qualifies for hedge accounting is expected to be highly effective at reducing the risk associated with the exposure being hedged. For each derivative that is designated as a hedge, the Company documents the related risk management objective and strategy, including identification of the hedging instrument, the hedged item and the risk exposure, as well as how hedge effectiveness will be assessed over the term of the instrument. The extent to which a hedging instrument has been and is expected to remain highly effective in achieving offsetting changes in fair value or cash flows is assessed and documented by the Company on at least a quarterly basis. If it is determined that a derivative instrument has not been highly effective, and will continue not to be highly effective in hedging the designated exposure, hedge accounting is discontinued and further gains (losses) are recognized in earnings within foreign currency gains (losses). Upon discontinuance of hedge accounting, the cumulative change in fair value of cash flow derivatives previously recorded in AOCI is recognized in earnings when the related hedged item affects earnings, consistent with the original hedging strategy, unless the forecasted transaction is no longer probable of occurring, in which case the accumulated amount is immediately recognized in earnings within foreign currency gains (losses). As a result of the use of derivative instruments, the Company may be exposed to the risk that the counterparties to such contacts will fail to meet their contractual obligations. To mitigate this counterparty credit risk, the Company has a policy of only entering into contracts with carefully selected financial institutions based upon an evaluation of their credit ratings, among other factors. The fair values of the Company’s derivative instruments are recorded on its Consolidated Balance Sheets on a gross basis. For cash flow reporting purposes, the Company classifies proceeds received or amounts paid upon the settlement of a derivative instrument in the same manner as the related item being hedged, primarily within cash from operating activities. Hedging Portfolio The Company enters into forward currency contracts primarily to reduce its risks related to exchange rate fluctuations on foreign currency denominated inventory transactions, as well as various cross-currency intercompany loans and payables. To the extent its derivative contracts designated as cash flow hedges are highly effective in offsetting changes in the value of the hedged items, the related gains (losses) are initially deferred in AOCI and subsequently recognized in the Consolidated Statements of Operations as part of the cost of the inventory purchases being hedged within Cost of sales, when the related inventory is sold to a third party. Current maturity dates range from July 2022 to June 2023. Forward foreign currency exchange contracts designated as fair value hedges and associated with intercompany and other contractual obligations are recognized within foreign currency gains (losses) generally in the period in which the related balances being hedged are revalued. The maturity date of most instruments held as of July 2, 2022 are in August 2022, and such contracts are typically renewed upon maturity if the related balance has not been settled. The Company also enters into cross-currency swaps to reduce its risks related to exchange rate fluctuations on net investments in foreign subsidiaries. The related gains (losses) are deferred in AOCI until the net investment is sold or liquidated, and current maturity dates range from April 2025 to March 2032.
Foreign Currency	Foreign Currency The functional currency of the Company's foreign operations is generally the applicable local currency. Assets and liabilities are translated into U.S. dollars using the current exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted-average exchange rates for the period. The resulting translation adjustments are included in the Consolidated Statements of Comprehensive Income as a component of Other comprehensive income (loss) (“OCI”) and in the Consolidated Statements of Equity within AOCI. The Company recognizes gains and losses on transactions that are denominated in a currency other than the respective entity's functional currency in earnings. Foreign currency transaction gains and losses also include amounts realized on the settlement of certain intercompany loans with foreign subsidiaries.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes". The ASU simplifies the accounting for income taxes by, among other things, eliminating certain existing exceptions related to the general approach in Topic 740 relating to franchise taxes, reducing complexity in the interim-period accounting for year-to-date loss limitations and changes in tax laws, and clarifying the accounting for the step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 as of the beginning of fiscal 2022. The adoption of ASU 2019-12 did not have a material impact on the Company's consolidated financial statements and notes thereto. Recently Issued Accounting Pronouncements Not Yet Adopted The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on our results of operations, financial condition or cash flows based on current information.

Revenue (Tables)

12 Months Ended

Jul. 02, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

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)
Fiscal 2022
Coach	$	3,102.8	$	892.2	$	691.3	$	235.0	$	4,921.3
Kate Spade	1,156.7		41.7		139.0		108.1		1,445.5
Stuart Weitzman	189.9		92.7		0.4		34.7		317.7
Total	$	4,449.4	$	1,026.6	$	830.7	$	377.8	$	6,684.5

Fiscal 2021
Coach	$	2,466.3	$	930.6	$	666.3	$	189.9	$	4,253.1
Kate Spade	936.7		55.2		134.7		83.4		1,210.0
Stuart Weitzman	139.4		108.3		4.0		31.5		283.2
Total	$	3,542.4	$	1,094.1	$	805.0	$	304.8	$	5,746.3

Fiscal 2020
Coach	$	2,015.5	$	600.8	$	691.0	$	218.4	$	3,525.7
Kate Spade	889.4		48.3		141.6		70.2		1,149.5
Stuart Weitzman	146.2		81.2		18.3		40.5		286.2
Total	$	3,051.1	$	730.3	$	850.9	$	329.1	$	4,961.4

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

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

(3) Other sales primarily represents sales in Europe, the Middle East and royalties earned from the Company's licensing partners.

Restructuring Activities (Tables)

12 Months Ended

Jul. 02, 2022

Restructuring and Related Activities [Abstract]

Summary of Restructuring Plan Charges

A summary of charges and related liabilities under the Acceleration Program is as follows:


	Organization-Related(1)		Store Closure(2)		Other(3)		Total
	(millions)
Fiscal 2020 charges	$	44.7	$	32.3	$	10.0	$	87.0
Cash payments	(15.8)		(11.0)		(7.1)		(33.9)
Non-cash charges	(4.0)		(20.8)		—		(24.8)
Liability balance as of June 27, 2020	$	24.9	$	0.5	$	2.9	$	28.3
Fiscal 2021 charges	$	16.6	$	5.9	$	67.1	$	89.6
Cash payments	(38.2)		(11.9)		(36.6)		(86.7)
Non-cash charges	—		5.8		(10.9)		(5.1)
Liability balance as of July 3, 2021	$	3.3	$	0.3	$	22.5	$	26.1
Fiscal 2022 charges	$	0.5	$	3.9	$	38.4	$	42.8
Cash payments	(2.7)		(6.4)		(38.2)		(47.3)
Non-cash charges	—		2.4		(17.2)		(14.8)
Liability balance as of July 2, 2022	$	1.1	$	0.2	$	5.5	$	6.8

(1) Organization-related charges, recorded within SG&A expenses, primarily relates to severance and other related costs.

(2) Store closure charges represent lease termination penalties, removal or modification of lease assets and liabilities, establishing inventory reserves, accelerated depreciation and severance.

(3) Other charges, recorded within SG&A, primarily relates to share-based compensation and professional fees.

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Jul. 02, 2022

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss

The components of Accumulated other comprehensive income (loss), 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(2)		Total
	(millions)
Balances at June 27, 2020	$	1.1	$	—	$	(93.3)	$	(92.2)
Other comprehensive income (loss) before reclassifications	(6.6)		—		22.0		15.4
Less: amounts reclassified from accumulated other comprehensive income (loss)	(4.8)		—		—		(4.8)
Net current-period other comprehensive income (loss)	(1.8)		—		22.0		20.2
Balances at July 3, 2021	$	(0.7)	$	—	$	(71.3)	$	(72.0)
Other comprehensive income (loss) before reclassifications	(4.2)		(0.5)		(96.8)		(101.5)
Less: amounts reclassified from accumulated other comprehensive income (loss)	(2.6)		—		—		(2.6)
Net current-period other comprehensive income (loss)	(1.6)		(0.5)		(96.8)		(98.9)
Balances at July 2, 2022	$	(2.3)	$	(0.5)	$	(168.1)	$	(170.9)

Share-Based Compensation (Tables)

12 Months Ended

Jul. 02, 2022

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

Total Compensation Cost Charged Against Income and Related Tax Benefits

The following table shows the total compensation cost charged against income for these plans and the related tax benefits recognized in the Consolidated Statements of Operations:


	July 2, 2022		July 3, 2021		June 27, 2020
	(millions)
Share-based compensation expense(1)	$	89.4	$	74.9	$	66.9
Income tax benefit related to share-based compensation expense	15.2		12.9		13.8

Summary of Stock Option Activity

A summary of stock option activity during the fiscal year ended July 2, 2022 is as follows:


	Number of Options Outstanding	Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
	(millions)				(millions)
Outstanding at July 3, 2021	13.3	$	35.99
Granted	0.7	42.27
Exercised	(2.2)	33.70
Forfeited or expired	(1.8)	48.94
Outstanding at July 2, 2022	10.0	34.52		5.4	$	49.9
Vested and expected to vest at July 2, 2022	10.0	34.61		5.3	49.0
Exercisable at July 2, 2022	6.5	39.32		4.0	15.7

Stock Option Grant Weighted Average Assumptions

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:


	July 2, 2022		July 3, 2021		June 27, 2020
Expected term (years)	5.0		5.1		5.1
Expected volatility	46.9	%	48.8	%	37.6	%
Risk-free interest rate	0.8	%	0.3	%	1.5	%
Dividend yield	2.4	%	—	%	6.3	%

Employee Purchase Rights Weighted Average Assumptions

Compensation expense is calculated for the fair value of employees’ purchase rights using the Black-Scholes model and the following weighted-average assumptions:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021		June 27, 2020
Expected term (years)	0.5		0.5		0.5
Expected volatility	38.2	%	81.6	%	50.2	%
Risk-free interest rate	0.1	%	0.1	%	1.9	%
Dividend yield	1.5	%	—	%	4.9	%

Service-based Restricted Stock Unit Awards (RSU)

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

Nonvested Share Activity

A summary of service-based RSU activity during the year ended July 2, 2022 is as follows:


	Number of Non-vested RSUs	Weighted- Average Grant- Date Fair Value per RSU
	(millions)
Non-vested at July 3, 2021	7.3	$	21.11
Granted	1.9	41.70

Vested	(2.2)	25.00
Forfeited	(0.6)	24.62
Non-vested at July 2, 2022	6.4	25.15

Performance-based Restricted Stock Unit Awards (PRSU)

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

Nonvested Share Activity

A summary of PRSU activity during the fiscal year ended July 2, 2022 is as follows:


	Number of Non-vested PRSUs	Weighted- Average Grant- Date Fair Value per PRSU
	(millions)
Non-vested at July 3, 2021	1.0	$	20.82
Granted	0.3	41.86
Change due to performance condition achievement	(0.1)	48.38
Vested	—	—
Forfeited	—	—
Non-vested at July 2, 2022	1.2	23.52

Investments (Tables)

12 Months Ended

Jul. 02, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

The following table summarizes the Company’s primarily U.S. dollar-denominated investments, recorded within the Consolidated Balance Sheets as of July 2, 2022 and July 3, 2021:


	July 2, 2022						July 3, 2021
	Short-term		Long-term(3)		Total		Short-term		Long-term(3)		Total
	(millions)
Available-for-sale investments:
Commercial paper(1)	$	59.6	$	—	$	59.6	$	—	$	—	$	—
Government securities – U.S.(2)	39.4		—		39.4		—		—		—
Corporate debt securities – U.S.(2)	55.2		—		55.2		—		—		—


Available-for-sale investments, total	$	154.2	$	—	$	154.2	$	—	$	—	$	—





Other:
Time deposits(1)	0.6		—		0.6		0.7		—		0.7
Other	8.6		0.1		8.7		7.4		0.1		7.5
Total Investments	$	163.4	$	0.1	$	163.5	$	8.1	$	0.1	$	8.2

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

(2)These securities as of July 2, 2022 have maturity dates during fiscal 2023 and are recorded at fair value.

(3)Long-term investments are presented within Other assets on the Consolidated Balance Sheets.

Leases (Tables)

12 Months Ended

Jul. 02, 2022

Leases [Abstract]

Assets And Liabilities, Lessee

The following table summarizes the ROU assets and lease liabilities recorded on the Company's Consolidated Balance Sheet as of July 2, 2022 and July 3, 2021:


	July 2, 2022		July 3, 2021		Location Recorded on Balance Sheet
	(millions)
Assets:
Operating leases	$	1,281.6	$	1,496.6	Operating lease right-of-use assets
Finance leases	1.9		2.6		Property and equipment, net
Total lease assets	$	1,283.5	$	1,499.2
Liabilities:
Operating leases:
Current lease liabilities	$	288.7	$	319.4	Current lease liabilities
Long-term lease liabilities	1,282.3		1,525.9		Long-term lease liabilities
Total operating lease liabilities	$	1,571.0	$	1,845.3
Finance leases:
Current lease liabilities	$	1.1	$	1.0	Accrued liabilities
Long-term lease liabilities	2.4		3.4		Other liabilities
Total finance lease liabilities	$	3.5	$	4.4

Total lease liabilities	$	1,574.5	$	1,849.7

Lease, Cost


	Fiscal Year Ended
	July 2, 2022		July 3, 2021
	(millions)
Finance lease cost:
Amortization of right-of-use assets	$	0.9	$	0.8
Interest on lease liabilities(1)	0.5		0.6
Total finance lease cost	1.4		1.4
Operating lease cost	331.9		348.7
Short-term lease cost	23.5		23.0
Variable lease cost(2)	203.0		115.7
Operating lease right-of-use impairment(3)	0.9		48.3
Less: sublease income	(19.7)		(20.2)
Total net lease cost	$	541.0	$	516.9

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

(2) Rent concessions negotiated related to Covid-19 are recorded in variable lease cost.

(3) Operating lease right-of-use impairment includes charges under the Acceleration Program for the year ended July 3, 2021.

The following table summarizes certain cash flow information related to the Company's leases for the fiscal year ended July 2, 2022 and July 3, 2021:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021
	(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	418.3	$	487.6
Operating cash flows from finance leases	0.5		0.6
Financing cash flows from finance leases	0.9		0.8
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	111.7		62.3
Right-of-use assets obtained in exchange for finance lease liabilities	—		—


	July 2, 2022		July 3, 2021
Weighted average remaining lease term (years):
Operating leases	8.0		8.3
Finance leases	2.9		3.9
Weighted average discount rate:
Operating leases	3.9	%	3.8	%
Finance leases	11.3	%	11.3	%

Lessee, Operating Lease, Liability, Maturity

The following table provides a maturity analysis of the Company's lease liabilities recorded on the Consolidated Balance Sheet as of July 2, 2022:


	July 2, 2022
	Operating Leases		Finance Leases		Total
	(millions)
Fiscal 2023	$	358.8	$	1.4	$	360.2
Fiscal 2024	298.5		1.4		299.9
Fiscal 2025	236.7		1.3		238.0
Fiscal 2026	192.4		—		192.4
Fiscal 2027	159.4		—		159.4
Fiscal 2028 and thereafter	637.6		—		637.6
Total lease payments	1,883.4		4.1		1,887.5
Less: imputed interest	(312.4)		(0.6)		(313.0)
Total lease liabilities	$	1,571.0	$	3.5	$	1,574.5

Finance Lease, Liability, Maturity

The following table provides a maturity analysis of the Company's lease liabilities recorded on the Consolidated Balance Sheet as of July 2, 2022:


	July 2, 2022
	Operating Leases		Finance Leases		Total
	(millions)
Fiscal 2023	$	358.8	$	1.4	$	360.2
Fiscal 2024	298.5		1.4		299.9
Fiscal 2025	236.7		1.3		238.0
Fiscal 2026	192.4		—		192.4
Fiscal 2027	159.4		—		159.4
Fiscal 2028 and thereafter	637.6		—		637.6
Total lease payments	1,883.4		4.1		1,887.5
Less: imputed interest	(312.4)		(0.6)		(313.0)
Total lease liabilities	$	1,571.0	$	3.5	$	1,574.5

Lessor, Operating Lease, Payments to be Received, Maturity

The future minimum fixed sublease receipts under non-cancelable operating lease agreements as of July 2, 2022 are as follows:


	July 2, 2022
	(millions)
Fiscal 2023	$	16.3
Fiscal 2024	16.7
Fiscal 2025	16.6
Fiscal 2026	14.8
Fiscal 2027	14.8
Fiscal 2028 and thereafter	142.3
Total sublease income	$	221.5

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Jul. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following tables provide information related to the Company's derivative instruments recorded on the Company's Consolidated Balance Sheets as of July 2, 2022 and July 3, 2021:


	Notional Value				Derivative Assets					Derivative Liabilities
Designated Derivative Hedging Instruments						Fair Value					Fair Value
	July 2, 2022		July 3, 2021		Balance Sheet Classification	July 2, 2022		July 3, 2021		Balance Sheet Classification	July 2, 2022		July 3, 2021
	(millions)
FC - Inventory purchases(1)	$	41.5	$	61.4	Other Current Assets	$	—	$	—	Accrued Liabilities	$	2.7	$	1.2
FC - Intercompany liabilities and loans(2)	274.1		248.2		Other Current Assets	0.4		0.3		Accrued Liabilities	0.5		—
CCS - Net investment hedges(3)	1,200.0		—		Other Assets	47.8		—		Other Liabilities	44.0		—
Total Hedges	$	1,515.6	$	309.6		$	48.2	$	0.3		$	47.2	$	1.2

(1)Represents forward foreign currency exchange contracts ("FC") designated as derivative instruments in cash flow hedging relationships.

(2)Represents forward foreign currency exchange contracts ("FC") designated as derivative instruments in fair value hedging relationships.

(3)Represents cross currency swap contracts ("CCS") designated as derivative instruments in net investment hedging relationships.

Hedging Activity Affected Accumulated Other Comprehensive Loss or Income Net of Tax


	Amount of Gain (Loss) Recognized in OCI on Derivatives
	Fiscal Year Ended
	July 2, 2022		July 3, 2021		June 27, 2020
	(millions)
Cash flow hedges:
Inventory purchases(1)	$	(5.6)	$	(7.2)	$	(7.9)
Cash flow hedges, total	$	(5.6)	$	(7.2)	$	(7.9)
Fair value hedges:
Intercompany liabilities & loans(2)	—		—		—
Fair value hedges, total	$	—	$	—	$	—
Other:
Net investment hedges	3.8		—		—
Other, total	$	3.8	$	—	$	—
Total hedges	$	(1.8)	$	(7.2)	$	(7.9)


	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
	Statement of Operations Classification	Fiscal Year Ended
		July 2, 2022		July 3, 2021		June 27, 2020
		(millions)
Cash flow hedges:
Inventory purchases(1)	Cost of Sales	$	(3.4)	$	(4.9)	$	(12.4)
Total hedges		$	(3.4)	$	(4.9)	$	(12.4)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Jul. 02, 2022

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 July 2, 2022 and July 3, 2021:


	Level 1				Level 2
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
	(millions)
Assets:
Cash equivalents(1)	$	99.1	$	662.0	$	10.9	$	0.4
Short-term investments:
Time deposits(2)	—		—		0.6		0.7
Commercial paper(2)	—		—		59.6		—
Government securities - U.S.(2)	39.4		—		—		—
Corporate debt securities - U.S.(2)	—		—		55.2		—

Other	—		—		8.6		7.4
Long-term investments:




Other	—		—		0.1		0.1
Derivative Assets:
Inventory-related instruments(3)	—		—		—		—
Net investment hedges(3)	—		—		47.8		—
Intercompany loans and payables(3)	—		—		0.4		0.3

Liabilities:

Derivative liabilities:
Inventory-related instruments(3)	$	—	$	—	$	2.7	$	1.2
Net investment hedges(3)	—		—		44.0		—
Intercompany loans and payables(3)	—		—		0.5		—

(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.

Debt (Tables)

12 Months Ended

Jul. 02, 2022

Debt Disclosure [Abstract]

Schedule of Debt

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


	July 2, 2022		July 3, 2021
	(millions)
Current Debt:


Term Loan	$	31.2	$	—
Total Current Debt	$	31.2	$	—

Long-Term Debt:
Term Loan	$	468.8	$	—
3.050% Senior Notes due 2032	500.0		—
4.125% Senior Notes due 2027	396.6		600.0
3.000% Senior Notes due 2022	—		400.0
4.250% Senior Notes due 2025	303.4		600.0
Total Long-Term Debt	1,668.8		1,600.0
Less: Unamortized Discount and Debt Issuance Costs on Senior Notes	(9.6)		(9.3)
Total Long-Term Debt, net	$	1,659.2	$	1,590.7

Schedule of Debt Maturities

As of July 2, 2022 the debt maturities for the next five fiscal years and thereafter are as follows:


	Principal
	(millions)
2023	$	31.2
2024	25.0
2025	328.4
2026	25.0
2027	393.8
Thereafter	896.6
Total	$	1,700.0

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Jul. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Change in Carrying Value of Goodwill

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


	Coach		Kate Spade		Stuart Weitzman (1)		Total
	(millions)
Balance at June 27, 2020	$	661.7	$	639.4	$	—	$	1,301.1



Foreign exchange impact	(5.4)		1.6		—		(3.8)

Balance at July 3, 2021	656.3		641.0		—		1,297.3




Foreign exchange impact	(47.2)		(8.6)		—		(55.8)
Balance at July 2, 2022	$	609.1	$	632.4	$	—	$	1,241.5

(1) Amount is net of accumulated goodwill impairment charges of $210.7 million as of July 2, 2022, July 3, 2021 and June 27, 2020.

Schedule of Indefinite-Lived Intangible Assets

Intangible assets consist of the following:


	Fiscal Year Ended
	July 2, 2022						July 3, 2021
	Gross Carrying Amount		Accum. Amort.		Net		Gross Carrying Amount		Accum. Amort.		Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	100.3	$	(43.5)	$	56.8	$	100.5	$	(36.9)	$	63.6

Total intangible assets subject to amortization	100.3		(43.5)		56.8		100.5		(36.9)		63.6
Intangible assets not subject to amortization:
Trademarks and trade names	1,309.8		—		1,309.8		1,309.8		—		1,309.8
Total intangible assets	$	1,410.1	$	(43.5)	$	1,366.6	$	1,410.3	$	(36.9)	$	1,373.4

Schedule of Finite-Lived Intangible Assets

Intangible assets consist of the following:


	Fiscal Year Ended
	July 2, 2022						July 3, 2021
	Gross Carrying Amount		Accum. Amort.		Net		Gross Carrying Amount		Accum. Amort.		Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	100.3	$	(43.5)	$	56.8	$	100.5	$	(36.9)	$	63.6

Total intangible assets subject to amortization	100.3		(43.5)		56.8		100.5		(36.9)		63.6
Intangible assets not subject to amortization:
Trademarks and trade names	1,309.8		—		1,309.8		1,309.8		—		1,309.8
Total intangible assets	$	1,410.1	$	(43.5)	$	1,366.6	$	1,410.3	$	(36.9)	$	1,373.4

Expected Amortization Expense for Intangible Assets

As of July 2, 2022, the expected amortization expense for intangible assets is as follows:


	Amortization Expense
	(millions)
Fiscal 2023	$	6.5
Fiscal 2024	6.5
Fiscal 2025	6.5
Fiscal 2026	6.5
Fiscal 2027	6.5
Thereafter	24.3
Total	$	56.8

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Income Taxes (Tables)

12 Months Ended

Jul. 02, 2022

Income Tax Disclosure [Abstract]

Components of Income Tax Provision (Benefit)

The provisions for income taxes, computed by applying the U.S. statutory rate to income before taxes, as reconciled to the actual provisions were:


	Fiscal Year Ended
	July 2, 2022				July 3, 2021				June 27, 2020
	Amount		Percentage		Amount		Percentage		Amount		Percentage
	(millions)
Income before provision for income taxes:
United States(1)	$	392.0	37.4	%	$	341.0	38.0	%	$	(496.4)	79.5	%
Foreign	655.0		62.6		556.3		62.0		(127.8)		20.5
Total income before provision for income taxes	$	1,047.0	100.0	%	$	897.3	100.0	%	$	(624.2)	100.0	%

Tax expense at U.S. statutory rate	$	219.9	21.0	%	$	188.4	21.0	%	$	(131.1)	21.0	%
State taxes, net of federal benefit	15.8		1.5		18.0		2.0		3.9		(0.6)
Effects of foreign operations(2)	(3.5)		(0.3)		6.5		0.7		89.8		(14.4)
Effects of tax credits and reorganization(3)	(49.8)		(4.8)		(94.5)		(10.5)		(28.6)		4.6
Effects of Impairment(4)	—		—		—		—		91.7		(14.7)
Change in state valuation allowance	—		—		11.5		1.3		1.6		(0.3)
Impact of net operating loss carryback			—		(65.4)		(7.3)		(8.3)		1.3
Other, net	8.3		0.8		(1.4)		(0.2)		8.9		(1.4)
Taxes at effective worldwide rates	$	190.7	18.2	%	$	63.1	7.0	%	$	27.9	(4.5)	%

(1)The United States jurisdiction includes foreign pre-tax earnings allocated to the Company from its interest in a foreign partnership.

(3) Fiscal 2021 is comprised primarily of $60.9 million of U.S. federal foreign tax credits generated in fiscal 2021.

(4) This item represents the effective tax rate impact of the Stuart Weitzman Goodwill and indefinite-lived brand intangible impairment activity recorded in fiscal 2020.

Current and deferred tax provision (benefit) was:


	Fiscal Year Ended
	July 2, 2022				July 3, 2021				June 27, 2020
	Current		Deferred		Current		Deferred		Current		Deferred
	(millions)
Federal	$	104.0	$	13.9	$	(80.0)	$	57.3	$	74.1	$	(88.7)
Foreign	46.6		11.2		63.8		(9.4)		68.8		(30.9)
State	10.7		4.3		26.7		4.7		0.7		3.9
Total current and deferred tax provision (benefit)	$	161.3	$	29.4	$	10.5	$	52.6	$	143.6	$	(115.7)

As shown in the table below, the remaining Transition Tax payable is $127.1 million and is payable between fiscal 2023 and fiscal 2025.


	Transition Tax Payments
	(millions)


Fiscal 2023	$	31.8
Fiscal 2024	42.4
Fiscal 2025	52.9

Total	$	127.1

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities were:


	July 2, 2022		July 3, 2021
	(millions)
Share-based compensation	$	26.1	$	28.6
Reserves not deductible until paid	51.1		46.4

Employee benefits	36.7		43.6
Net operating loss	74.7		88.6
Other	19.6		19.6



Inventory	28.8		33.0
Lease liability	335.3		418.1
Gross deferred tax assets	572.3		677.9
Valuation allowance	51.6		65.9
Deferred tax assets after valuation allowance	$	520.7	$	612.0

Goodwill	69.1		85.4
Other intangibles	309.6		303.7
Property and equipment	11.3		20.3
Foreign investments	23.5		14.4
Right-of-use	280.4		324.6
Prepaid expenses	0.6		1.9


Gross deferred tax liabilities	694.5		750.3
Net deferred tax (liabilities) assets	$	(173.8)	$	(138.3)

Consolidated Balance Sheets Classification

Deferred income taxes – noncurrent asset	47.9		65.6

Deferred income taxes – noncurrent liability	(221.7)		(203.9)
Net deferred tax (liabilities) assets	$	(173.8)	$	(138.3)

Unrecognized Tax Benefits Reconciliation

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:


	July 2, 2022		July 3, 2021		June 27, 2020
	(millions)
Balance at beginning of fiscal year	$	111.4	$	88.5	$	85.8
Gross increase due to tax positions related to prior periods	1.6		38.3		11.2
Gross decrease due to tax positions related to prior periods	(11.7)		(9.4)		(1.6)
Gross increase due to tax positions related to current period	7.4		6.8		6.8
Decrease due to lapse of statutes of limitations	(10.9)		(12.0)		(8.6)
Decrease due to settlements with taxing authorities	(1.7)		(0.8)		(5.1)

Balance at end of fiscal year	$	96.1	$	111.4	$	88.5

Segment Information (Tables)

12 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Summary of Segment Performance

The following table summarizes segment performance for fiscal 2022, fiscal 2021 and fiscal 2020:


	Coach		Kate Spade		Stuart Weitzman		Corporate(1)		Total
	(millions)
Fiscal 2022
Net sales	$	4,921.3	$	1,445.5	$	317.7	$	—	$	6,684.5
Gross profit(2)	3,553.8		912.0		184.6		—		4,650.4
Operating income (loss)	1,473.9		157.4		1.8		(457.3)		1,175.8
Income (loss) before provision for income taxes	1,473.9		157.4		1.8		(586.1)		1,047.0
Depreciation and amortization expense(3)	110.1		48.5		10.3		26.4		195.3
Total assets	2,392.2		2,641.3		269.3		1,962.5		7,265.3
Additions to long-lived assets(4)	52.3		14.2		2.6		92.5		161.6


Fiscal 2021
Net sales	$	4,253.1	$	1,210.0	$	283.2	$	—	$	5,746.3
Gross profit(2)	3,149.0		768.4		164.5		—		4,081.9
Operating income (loss)	1,312.1		108.5		(8.6)		(444.0)		968.0
Income (loss) before provision for income taxes	1,312.1		108.5		(8.6)		(514.7)		897.3
Depreciation and amortization expense(3)	102.2		46.8		13.3		58.2		220.5
Total assets	2,513.5		2,707.3		298.6		2,863.0		8,382.4
Additions to long-lived assets(4)	37.3		13.5		3.4		61.8		116.0


Fiscal 2020
Net sales	$	3,525.7	$	1,149.5	$	286.2	$	—	$	4,961.4
Gross profit(2)	2,411.6		682.9		144.8		—		3,239.3
Operating income (loss)	589.4		(99.3)		(621.4)		(419.5)		(550.8)
Income (loss) before provision for income taxes	589.4		(99.3)		(621.4)		(492.9)		(624.2)
Depreciation and amortization expense(3)	159.1		97.8		518.8		53.5		829.2
Total assets	2,616.6		2,769.2		305.1		2,233.3		7,924.2
Additions to long-lived assets(4)	75.7		62.0		14.3		54.4		206.4

Other Intangible Assets" 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 include costs for assets that will be capitalized within Property and equipment, net, and costs relating to cloud computing implementation costs. Cloud computing implementation costs are recognized within Prepaid expenses and Other assets on the Consolidated Balance Sheets. Brand additions include costs that are specific for the brand and corporate additions include all other assets which includes 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.

Net Sales by Product Category

The following table shows net sales for each product category represented:


	Fiscal Year Ended
	July 2, 2022				July 3, 2021				June 27, 2020
	Amount		% of total net sales		Amount		% of total net sales		Amount		% of total net sales
	(millions)
Coach
Women's Handbags	$	2,574.8	38	%	$	2,302.3	40	%	$	1,852.0	37	%
Women's Accessories	942.5		14		776.7		14		645.4		13
Men's	904.8		14		769.3		13		688.0		14
Other Products	499.2		7		404.8		7		340.3		7
Total Coach	$	4,921.3	73	%	$	4,253.1	74	%	$	3,525.7	71	%
Kate Spade
Women's Handbags	$	819.5	12	%	$	681.5	12	%	$	648.9	13	%
Other Products	319.0		5		269.3		5		260.0		5
Women's Accessories	307.0		5		259.2		4		240.6		5
Total Kate Spade	$	1,445.5	22	%	$	1,210.0	21	%	$	1,149.5	23	%
Stuart Weitzman(1)	$	317.7	5	%	$	283.2	5	%	$	286.2	6	%
Total Net sales	$	6,684.5	100	%	$	5,746.3	100	%	$	4,961.4	100	%

(1)The significant majority of sales for the Stuart Weitzman brand is attributable to women's footwear.

Geographical Area Information


	United States		Japan		Greater China(2)		Other(3)		Total
	(millions)
Fiscal 2022
Net sales(1)	$	4,174.3	$	578.8	$	1,026.6	$	904.8	$	6,684.5
Long-lived assets	1,578.9		94.0		131.0		231.6		2,035.5
Fiscal 2021
Net sales(1)	$	3,365.9	$	598.9	$	1,094.1	$	687.4	$	5,746.3
Long-lived assets	1,722.2		132.0		125.7		290.8		2,270.7
Fiscal 2020
Net sales(1)	$	2,839.7	$	602.9	$	730.3	$	788.5	$	4,961.4
Long-lived assets	1,933.6		166.0		156.0		379.0		2,634.6

(1)Includes net sales from our global travel retail business in locations within the specified geographic area.

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

(3)Other includes sales in Europe, Canada, Malaysia, Australia and New Zealand, South Korea, Singapore, and royalties earned from the Company's licensing partners.

Earnings Per Share (Tables)

12 Months Ended

Jul. 02, 2022

Earnings Per Share [Abstract]

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:


	Fiscal Year Ended
	July 2, 2022		July 3, 2021		June 27, 2020
	(millions, except per share data)
Net income (loss)	$	856.3	$	834.2	$	(652.1)

Weighted-average basic shares	264.3		277.9		278.6
Dilutive securities:
Effect of dilutive securities(1)	5.8		5.1		—
Weighted-average diluted shares	270.1		283.0		278.6

Net income (loss) per share:
Basic	$	3.24	$	3.00	$	(2.34)
Diluted	$	3.17	$	2.95	$	(2.34)

(1) There was no dilutive effect for fiscal year 2020 as the impact of these items would be anti-dilutive as a result of the net loss incurred during the period.

Supplemental Balance Sheet Information (Tables)

12 Months Ended

Jul. 02, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components of Certain Balance Sheet Accounts

The components of certain balance sheet accounts are as follows:


	July 2, 2022		July 3, 2021
	(millions)




Property and equipment
Land and building	$	8.0	$	8.0
Machinery and equipment	50.1		46.9
Software and computer equipment	584.7		601.6
Furniture and fixtures	310.7		320.9
Leasehold improvements	738.2		799.2
Construction in progress	40.4		45.6
Less: accumulated depreciation	(1,187.7)		(1,144.1)
Total property and equipment, net	$	544.4	$	678.1
Accrued liabilities
Payroll and employee benefits	$	212.4	$	216.1
Accrued rent	18.9		20.0
Accrued income taxes	35.8		52.0
Accrued freight	80.4		48.9
Operating expenses	280.7		324.2
Total accrued liabilities	$	628.2	$	661.2
Other liabilities
Deferred lease obligation	$	46.0	$	62.2
Gross unrecognized tax benefit	96.1		111.4
Other	110.4		76.1
Total other liabilities	$	252.5	$	249.7

Significant Accounting Policies (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 28, 2020	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Significant Accounting Policies [Line Items]
Impairment charges		$ 4,000,000	$ 60,900,000
Goodwill impairment		0	0	$ 0
Asset retirement obligation		48,800,000	45,100,000
Advertising expenses		551,600,000	395,200,000	238,000,000
Shipping and Handling
Significant Accounting Policies [Line Items]
Costs		$ 230,800,000	$ 178,600,000	128,100,000
Stuart Weitzman
Significant Accounting Policies [Line Items]
Goodwill impairment	$ 210,700,000			210,700,000
Trademarks and trade names \| Stuart Weitzman
Significant Accounting Policies [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 267,000,000			$ 267,000,000
Building
Significant Accounting Policies [Line Items]
Property and equipment, useful life		40 years
Building Improvements \| Minimum
Significant Accounting Policies [Line Items]
Property and equipment, useful life		10 years
Building Improvements \| Maximum
Significant Accounting Policies [Line Items]
Property and equipment, useful life		40 years
Machinery and Equipment \| Minimum
Significant Accounting Policies [Line Items]
Property and equipment, useful life		5 years
Machinery and Equipment \| Maximum
Significant Accounting Policies [Line Items]
Property and equipment, useful life		7 years
Furniture and Fixtures \| Minimum
Significant Accounting Policies [Line Items]
Property and equipment, useful life		3 years
Furniture and Fixtures \| Maximum
Significant Accounting Policies [Line Items]
Property and equipment, useful life		10 years
Computer Software \| Minimum
Significant Accounting Policies [Line Items]
Property and equipment, useful life		3 years
Computer Software \| Maximum
Significant Accounting Policies [Line Items]
Property and equipment, useful life		7 years

Revenue (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Narrative) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Disaggregation of Revenue [Line Items]
Deferred revenue, current	$ 41.5	$ 32.4
Deferred revenue, revenue recognized	$ 16.8	$ 12.5
Net Sales \| Licensing Business \| Revenue from Rights Concentration Risk
Disaggregation of Revenue [Line Items]
Percent of total sales	1.00%
Minimum
Disaggregation of Revenue [Line Items]
Revenue, payment terms	30 days
Maximum
Disaggregation of Revenue [Line Items]
Revenue, payment terms	90 days

Revenue (Disaggregated Sales) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 6,684.5	$ 5,746.3	$ 4,961.4
North America
Disaggregation of Revenue [Line Items]
Net sales	4,449.4	3,542.4	3,051.1
Greater China
Disaggregation of Revenue [Line Items]
Net sales	1,026.6	1,094.1	730.3
Other Asia
Disaggregation of Revenue [Line Items]
Net sales	830.7	805.0	850.9
Other
Disaggregation of Revenue [Line Items]
Net sales	377.8	304.8	329.1
Coach
Disaggregation of Revenue [Line Items]
Net sales	4,921.3	4,253.1	3,525.7
Coach \| North America
Disaggregation of Revenue [Line Items]
Net sales	3,102.8	2,466.3	2,015.5
Coach \| Greater China
Disaggregation of Revenue [Line Items]
Net sales	892.2	930.6	600.8
Coach \| Other Asia
Disaggregation of Revenue [Line Items]
Net sales	691.3	666.3	691.0
Coach \| Other
Disaggregation of Revenue [Line Items]
Net sales	235.0	189.9	218.4
Kate Spade
Disaggregation of Revenue [Line Items]
Net sales	1,445.5	1,210.0	1,149.5
Kate Spade \| North America
Disaggregation of Revenue [Line Items]
Net sales	1,156.7	936.7	889.4
Kate Spade \| Greater China
Disaggregation of Revenue [Line Items]
Net sales	41.7	55.2	48.3
Kate Spade \| Other Asia
Disaggregation of Revenue [Line Items]
Net sales	139.0	134.7	141.6
Kate Spade \| Other
Disaggregation of Revenue [Line Items]
Net sales	108.1	83.4	70.2
Stuart Weitzman
Disaggregation of Revenue [Line Items]
Net sales	317.7	283.2	286.2
Stuart Weitzman \| North America
Disaggregation of Revenue [Line Items]
Net sales	189.9	139.4	146.2
Stuart Weitzman \| Greater China
Disaggregation of Revenue [Line Items]
Net sales	92.7	108.3	81.2
Stuart Weitzman \| Other Asia
Disaggregation of Revenue [Line Items]
Net sales	0.4	4.0	18.3
Stuart Weitzman \| Other
Disaggregation of Revenue [Line Items]
Net sales	$ 34.7	$ 31.5	$ 40.5

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Restructuring Activities (Narrative) (Details) - Acceleration Program - USD ($) $ in Millions	36 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost	$ 219.4
Restructuring and related cost, charges incurred to date	42.8	$ 89.6	$ 87.0
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, charges incurred to date	42.8	89.6	78.6
Selling, General and Administrative Expenses \| Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, charges incurred to date	26.6	65.8	28.9
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, charges incurred to date			8.4
Coach \| Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, charges incurred to date	6.7	21.9	18.5
Kate Spade \| Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, charges incurred to date	5.9	4.4	13.6
Stuart Weitzman \| Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, charges incurred to date	$ 3.6	$ 2.5	17.6
Stuart Weitzman \| Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, charges incurred to date			$ 8.4

Restructuring Activities (Restructuring Liability Rollforward) (Details) - Acceleration Program - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 42.8	$ 89.6	$ 87.0
Cash payments	(47.3)	(86.7)	(33.9)
Non-cash charges	(14.8)	(5.1)	(24.8)
Liability balance	6.8	26.1	28.3
Organizational-Related
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0.5	16.6	44.7
Cash payments	(2.7)	(38.2)	(15.8)
Non-cash charges	0.0	0.0	(4.0)
Liability balance	1.1	3.3	24.9
Store Closure
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3.9	5.9	32.3
Cash payments	(6.4)	(11.9)	(11.0)
Non-cash charges	2.4	5.8	(20.8)
Liability balance	0.2	0.3	0.5
Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	38.4	67.1	10.0
Cash payments	(38.2)	(36.6)	(7.1)
Non-cash charges	(17.2)	(10.9)	0.0
Liability balance	$ 5.5	$ 22.5	$ 2.9

Accumulated Other Comprehensive Income (Loss) (Components) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	$ 3,259.3	$ 2,276.4	$ 3,513.4
Other comprehensive income (loss) before reclassifications	(101.5)	15.4
Less: amounts reclassified from accumulated other comprehensive income (loss)	(2.6)	(4.8)
Other comprehensive income (loss), net of tax	(98.9)	20.2	(9.0)
Ending balance	2,285.5	3,259.3	2,276.4
Unrealized Gains (Losses) on Cash Flow Hedges Derivatives
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	(0.7)	1.1
Other comprehensive income (loss) before reclassifications	(4.2)	(6.6)
Less: amounts reclassified from accumulated other comprehensive income (loss)	(2.6)	(4.8)
Other comprehensive income (loss), net of tax	(1.6)	(1.8)
Ending balance	(2.3)	(0.7)	1.1
Unrealized Gains (Losses) on Available-for-Sale Investments
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	0.0	0.0
Other comprehensive income (loss) before reclassifications	(0.5)	0.0
Less: amounts reclassified from accumulated other comprehensive income (loss)	0.0	0.0
Other comprehensive income (loss), net of tax	(0.5)	0.0
Ending balance	(0.5)	0.0	0.0
Cumulative Translation Adjustment
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	(71.3)	(93.3)
Other comprehensive income (loss) before reclassifications	(96.8)	22.0
Less: amounts reclassified from accumulated other comprehensive income (loss)	0.0	0.0
Other comprehensive income (loss), net of tax	(96.8)	22.0
Ending balance	(168.1)	(71.3)	(93.3)
Total
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	(72.0)	(92.2)	(83.2)
Ending balance	$ (170.9)	$ (72.0)	$ (92.2)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($)	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net loss on fair values of instruments designated as hedges	$ (3,800,000)	$ 0	$ 0
Geographic Distribution, Foreign
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net loss on fair values of instruments designated as hedges	7,600,000
Unrealized Gains (Losses) on Cash Flow Hedges Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, accumulated tax	900,000	300,000
Amounts reclassified from AOCI, tax	800,000	100,000
Accumulated Gain (Loss) Net Investment Hedge
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, accumulated tax	$ (11,400,000)	$ 0

Share-Based Compensation (Total Compensation Cost and Related Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 89.4	$ 74.9	$ 66.9
Income tax benefit related to share-based compensation expense	15.2	12.9	13.8
Employee Severance \| Acceleration Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 17.2	$ 10.8	4.0
Employee Severance \| Organization and Integration
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			$ 9.8

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of stock option as percentage of market price of stock to date of grant	100.00%
Expected term	5 years	5 years 1 month 6 days	5 years 1 month 6 days
Stock option vesting period	4 years
Weighted-average grant-date fair value of options granted (USD per share)	$ 13.94	$ 7.54	$ 3.83
Total intrinsic value of options exercised	$ 17.5	$ 17.0	$ 0.0
Total cash received from option exercises	71.3	58.1	0.1
Tax benefit from option exercises	3.7	$ 3.7	$ 0.0
Total unrecognized compensation cost related to non-vested awards	$ 16.7
Total unrecognized compensation cost related to non-vested awards, recognized over a weighted-average period	1 year 3 months 18 days
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	10 years
Stock option vesting period	4 years
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period	1 year
Service-based Restricted Stock Unit Awards (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to non-vested awards	$ 94.1
Total unrecognized compensation cost related to non-vested awards, recognized over a weighted-average period	1 year 3 months 18 days
Weighted-average grant-date fair value of equity instruments other than options granted (USD per share)	$ 41.70	$ 16.40	$ 21.31
Total fair value of shares vested	$ 92.5	$ 26.3	$ 33.5
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from option exercises	17.4	$ 6.2	$ 8.8
Performance-based Restricted Stock Unit Awards (PRSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to non-vested awards	$ 17.6
Total unrecognized compensation cost related to non-vested awards, recognized over a weighted-average period	1 year 1 month 6 days
Weighted-average grant-date fair value of equity instruments other than options granted (USD per share)	$ 41.86	$ 16.83	$ 21.43
Total fair value of shares vested	$ 0.0	$ 3.7	$ 8.3
Performance-based Restricted Stock Unit Awards (PRSU) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period	3 years
Performance-based Restricted Stock Unit Awards (PRSU) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period	2 years
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 months	6 months	6 months
Weighted-average grant-date fair value of equity instruments other than options granted (USD per share)	$ 10.71	$ 7.39	$ 7.75
Employee stock purchase plan, percentage of market value	85.00%
New common shares sold to employees under the employee stock purchase plan (shares)	0.1	0.2	0.2

Share-Based Compensation (Summary of Option Activity) (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jul. 02, 2022 USD ($) $ / shares shares
Number of Options Outstanding
Outstanding, beginning of period (shares) \| shares	13.3
Granted (shares) \| shares	0.7
Exercised (shares) \| shares	(2.2)
Forfeited or expired (shares) \| shares	(1.8)
Outstanding, end of period (shares) \| shares	10.0
Number of options outstanding, vested and expected to vest (shares) \| shares	10.0
Number of options outstanding, exercisable (shares) \| shares	6.5
Weighted- Average Exercise Price per Option
Outstanding, beginning of period (USD per share) \| $ / shares	$ 35.99
Granted (USD per share) \| $ / shares	42.27
Exercised (USD per share) \| $ / shares	33.70
Forfeited or expired (USD per share) \| $ / shares	48.94
Outstanding, end of period (USD per share) \| $ / shares	34.52
Weighted-average exercise price, shares vested or expected to vest (USD per share) \| $ / shares	34.61
Weighted-average exercise price, exercisable (USD per share) \| $ / shares	$ 39.32
Weighted- Average Remaining Contractual Term (in years)
Outstanding	5 years 4 months 24 days
Vested or expected to vest	5 years 3 months 18 days
Exercisable	4 years
Aggregate Intrinsic Value
Outstanding \| $	$ 49.9
Vested or expected to vest \| $	49.0
Exercisable \| $	$ 15.7

Share Based Compensation (Stock Option Grant Weighted Average Assumptions) (Details) - Stock Options	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years	5 years 1 month 6 days	5 years 1 month 6 days
Expected volatility	46.90%	48.80%	37.60%
Risk-free interest rate	0.80%	0.30%	1.50%
Dividend yield	2.40%	0.00%	6.30%

Share-Based Compensation (Summary of Service-Based Restricted Stock Unit Activity) (Details) - Service-based Restricted Stock Unit Awards (RSU) - $ / shares shares in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Number of Non-vested RSUs
Non-vested, beginning of period (shares)	7.3
Granted (shares)	1.9
Vested (shares)	(2.2)
Forfeited (shares)	(0.6)
Non-vested, end of period (shares)	6.4	7.3
Weighted- Average Grant- Date Fair Value per RSU
Non-vested, beginning of period (USD per share)	$ 21.11
Granted (USD per share)	41.70	$ 16.40	$ 21.31
Vested (USD per share)	25.00
Forfeited (USD per share)	24.62
Non-vested, end of period (USD per share)	$ 25.15	$ 21.11

Share-Based Compensation (Summary of Performance-Based Restricted Stock Unit Activity) (Details) - Performance-based Restricted Stock Unit Awards (PRSU) - $ / shares shares in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Number of Non-vested PRSUs
Non-vested, beginning of period (shares)	1.0
Granted (shares)	0.3
Change due to performance condition achievement (shares)	(0.1)
Vested (shares)	0.0
Forfeited (shares)	0.0
Non-vested, end of period (shares)	1.2	1.0
Weighted- Average Grant- Date Fair Value per PRSU
Non-vested, beginning of period (USD per share)	$ 20.82
Granted (USD per share)	41.86	$ 16.83	$ 21.43
Change due to performance condition achievement (USD per share)	48.38
Vested (USD per share)	0
Forfeited (USD per share)	0
Non-vested, end of period (USD per share)	$ 23.52	$ 20.82

Share-Based Compensation (Purchase Rights Weighted Average Assumptions) (Details) - Employee Stock Purchase Plan	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 months	6 months	6 months
Expected volatility	38.20%	81.60%	50.20%
Risk-free interest rate	0.10%	0.10%	1.90%
Dividend yield	1.50%	0.00%	4.90%

Investments (Summary of Investments) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Schedule of Investments [Line Items]
Short-term investments	$ 154.2	$ 0.0
Long-term investments	0.0	0.0
Investments	154.2	0.0
Other short-term investments	8.6	7.4
Other long-term investments	0.1	0.1
Other investments	8.7	7.5
Short-term investments	163.4	8.1
Long-term investments	0.1	0.1
Investments	163.5	8.2
Time deposits
Schedule of Investments [Line Items]
Other short-term investments	0.6	0.7
Commercial paper
Schedule of Investments [Line Items]
Short-term investments	59.6	0.0
Long-term investments	0.0	0.0
Investments	59.6	0.0
Government securities - U.S.
Schedule of Investments [Line Items]
Short-term investments	39.4	0.0
Long-term investments	0.0	0.0
Investments	39.4	0.0
Corporate debt securities - U.S.
Schedule of Investments [Line Items]
Short-term investments	55.2	0.0
Long-term investments	0.0	0.0
Investments	$ 55.2	$ 0.0

Investments (Narrative) (Details) - USD ($)	12 Months Ended
Investments (Narrative) (Details) - USD ($)	Jul. 02, 2022	Jul. 03, 2021
Investments, Debt and Equity Securities [Abstract]
Maturity of time deposits	3 months
Available-for-sale investments, gross unrealized gain (loss)	$ 0	$ 0

Leases (Narrative) (Details) $ in Millions	12 Months Ended
Leases (Narrative) (Details) $ in Millions	Jul. 02, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease not yet commenced, liability	$ 181.4
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	Jul. 02, 2022	Jul. 03, 2021
Assets:
Operating leases	$ 1,281.6	$ 1,496.6
Finance leases	$ 1.9	$ 2.6
Finance leases [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Total lease assets	$ 1,283.5	$ 1,499.2
Operating leases:
Current lease liabilities	288.7	319.4
Long-term operating lease liabilities	1,282.3	1,525.9
Total operating lease liabilities	1,571.0	1,845.3
Finance leases:
Current lease liabilities	$ 1.1	$ 1.0
Current lease liabilities [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Long-term lease liabilities	$ 2.4	$ 3.4
Long-term lease liabilities [Extensible Enumeration]	Other liabilities	Other liabilities
Total finance lease liabilities	$ 3.5	$ 4.4
Total lease liabilities	$ 1,574.5	$ 1,849.7

Leases (Costs) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Costs) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Leases [Abstract]
Amortization of right-of-use assets	$ 0.9	$ 0.8
Interest on lease liabilities	0.5	0.6
Total finance lease cost	1.4	1.4
Operating lease cost	331.9	348.7
Short-term lease cost	23.5	23.0
Variable lease cost	203.0	115.7
Operating lease right-of-use impairment	0.9	48.3
Less: sublease income	(19.7)	(20.2)
Total net lease cost	$ 541.0	$ 516.9

Leases (Cash Flow) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Cash Flow) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 418.3	$ 487.6
Operating cash flows from finance leases	0.5	0.6
Financing cash flows from finance leases	0.9	0.8
Non-cash transactions:
Right-of-use assets obtained in exchange for operating lease liabilities	111.7	62.3
Right-of-use assets obtained in exchange for finance lease liabilities	$ 0.0	$ 0.0

Leases (Maturity) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Operating Leases
Fiscal 2023	$ 358.8
Fiscal 2024	298.5
Fiscal 2025	236.7
Fiscal 2026	192.4
Fiscal 2027	159.4
Fiscal 2028 and thereafter	637.6
Total lease payments	1,883.4
Less: imputed interest	(312.4)
Total operating lease liabilities	1,571.0	$ 1,845.3
Finance Leases
Fiscal 2023	1.4
Fiscal 2024	1.4
Fiscal 2025	1.3
Fiscal 2026	0.0
Fiscal 2027	0.0
Fiscal 2028 and thereafter	0.0
Total lease payments	4.1
Less: imputed interest	(0.6)
Total finance lease liabilities	3.5	4.4
Total
Fiscal 2023	360.2
Fiscal 2024	299.9
Fiscal 2025	238.0
Fiscal 2026	192.4
Fiscal 2027	159.4
Fiscal 2028 and thereafter	637.6
Total lease payments	1,887.5
Less: interest	(313.0)
Total lease liabilities	$ 1,574.5	$ 1,849.7

Leases (Sublease Income) (Details) $ in Millions	Jul. 02, 2022 USD ($)
Leases [Abstract]
Fiscal 2023	$ 16.3
Fiscal 2024	16.7
Fiscal 2025	16.6
Fiscal 2026	14.8
Fiscal 2027	14.8
Fiscal 2028 and thereafter	142.3
Total sublease income	$ 221.5

Leases (Weighted Averages) (Details)	Jul. 02, 2022	Jul. 03, 2021
Weighted average remaining lease term (years):
Operating leases	8 years	8 years 3 months 18 days
Finance leases	2 years 10 months 24 days	3 years 10 months 24 days
Weighted average discount rate:
Operating leases	3.90%	3.80%
Finance leases	11.30%	11.30%

Derivative Instruments and Hedging Activities (Fair Value of Derivatives Designated as Hedging Instruments) (Details) - Designated Derivative Hedging Instruments - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Derivatives, Fair Value [Line Items]
Notional Value	$ 1,515.6	$ 309.6
Derivative Assets	48.2	0.3
Derivative Liabilities	47.2	1.2
Other Current Assets \| Cash Flow Hedging, Inventory Purchases
Derivatives, Fair Value [Line Items]
Derivative Assets	0.0	0.0
Other Current Assets \| Fair Value Hedging, Intercompany Liabilities and Loans
Derivatives, Fair Value [Line Items]
Derivative Assets	0.4	0.3
Other Assets \| Net Investment Hedges
Derivatives, Fair Value [Line Items]
Derivative Assets	47.8	0.0
Accrued Liabilities \| Cash Flow Hedging, Inventory Purchases
Derivatives, Fair Value [Line Items]
Derivative Liabilities	2.7	1.2
Accrued Liabilities \| Fair Value Hedging, Intercompany Liabilities and Loans
Derivatives, Fair Value [Line Items]
Derivative Liabilities	0.5	0.0
Other Liabilities \| Net Investment Hedges
Derivatives, Fair Value [Line Items]
Derivative Liabilities	44.0	0.0
Forward Foreign Currency Exchange Contracts \| Cash Flow Hedging, Inventory Purchases
Derivatives, Fair Value [Line Items]
Notional Value	41.5	61.4
Forward Foreign Currency Exchange Contracts \| Fair Value Hedging, Intercompany Liabilities and Loans
Derivatives, Fair Value [Line Items]
Notional Value	274.1	248.2
Cross Currency Swap \| Net Investment Hedges
Derivatives, Fair Value [Line Items]
Notional Value	$ 1,200.0	$ 0.0

Derivative Instruments and Hedging Activities (Amount of Gain or Loss Reclassified from Accumulated OCI into Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivatives	$ (5.6)	$ (7.2)	$ (7.9)
Amount of Gain (Loss) Recognized in OCI on Derivatives	0.0	0.0	0.0
Amount of Gain (Loss) Recognized in OCI on Derivatives	3.8	0.0	0.0
Amount of Gain (Loss) Recognized in OCI on Derivatives	(1.8)	(7.2)	(7.9)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income	(3.4)	(4.9)	(12.4)
Forward Foreign Currency Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivatives	(5.6)	(7.2)	(7.9)
Amount of Gain (Loss) Recognized in OCI on Derivatives	0.0	0.0	0.0
Forward Foreign Currency Exchange Contracts \| Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income	$ (3.4)	$ (4.9)	$ (12.4)

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gain in AOCI reclassified into earnings within next 12 months	$ 3.6
Interest income	(58.7)	$ (71.4)	$ (60.1)
Cross Currency Swap \| Net investment hedges \| Designated Derivative Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Interest income	$ 2.2

Fair Value Measurements (Fair Value Measurements of Assets and Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity of time deposits	3 months
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 99.1	$ 662.0
Level 1 \| Inventory-related instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.0	0.0
Derivative liability	0.0	0.0
Level 1 \| Net investment hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.0	0.0
Derivative liability	0.0	0.0
Level 1 \| Intercompany loans and payables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	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	39.4	0.0
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 \| 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	10.9	0.4
Level 2 \| Inventory-related instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.0	0.0
Derivative liability	2.7	1.2
Level 2 \| Net investment hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	47.8	0.0
Derivative liability	44.0	0.0
Level 2 \| Intercompany loans and payables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.4	0.3
Derivative liability	0.5	0.0
Level 2 \| Short-term Investments \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.6	0.7
Level 2 \| Short-term Investments \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	59.6	0.0
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	55.2	0.0
Level 2 \| Short-term Investments \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	8.6	7.4
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 (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
Fair Value Measurements (Narrative) (Details) - USD ($)	Mar. 28, 2020	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges		$ 4,000,000	$ 60,900,000
Goodwill impairment		0	0	$ 0
Stuart Weitzman
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment	$ 210,700,000			210,700,000
Trademarks and trade names \| Stuart Weitzman
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 267,000,000			$ 267,000,000
Store Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges		3,100,000	12,600,000
Operating lease right of use assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges		$ 900,000	$ 48,300,000

Debt (Summary of Outstanding Debt) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Dec. 01, 2021	Jul. 03, 2021	Jun. 20, 2017	Mar. 02, 2015
Current Debt:
Current debt	$ 31.2		$ 0.0
Long-Term Debt:
Long-term debt	1,668.8		1,600.0
Less: Unamortized Discount and Debt Issuance Costs on Senior Notes	(9.6)		(9.3)
Total Long-Term Debt, net	1,659.2		1,590.7
Term Loan
Long-Term Debt:
Long-term debt	468.8		0.0
Senior Notes \| 3.050% Senior Notes due 2032
Long-Term Debt:
Long-term debt	$ 500.0		0.0
Interest rate, stated percentage	3.05%	3.05%
Senior Notes \| 4.125% Senior Notes due 2027
Long-Term Debt:
Long-term debt	$ 396.6		600.0
Interest rate, stated percentage	4.125%	4.125%		4.125%
Senior Notes \| 3.000% Senior Notes due 2022
Long-Term Debt:
Long-term debt	$ 0.0		400.0
Interest rate, stated percentage	3.00%			3.00%
Senior Notes \| 4.250% Senior Notes due 2025
Long-Term Debt:
Long-term debt	$ 303.4		600.0
Interest rate, stated percentage	4.25%	4.25%			4.25%
Term Loan
Current Debt:
Current debt	$ 31.2		$ 0.0

Debt (Revolving Credit Facility and Term Loan) (Details)			12 Months Ended
	May 11, 2022 USD ($)	Oct. 24, 2019 USD ($)	Jul. 02, 2022 USD ($)	Jul. 03, 2021 USD ($)	Jun. 27, 2020 USD ($)	May 19, 2020 USD ($)	Jun. 20, 2017
Debt Instrument [Line Items]
Interest expense			$ 68,800,000	$ 73,500,000	$ 71,500,000
$1.25 Billion Revolving Credit Facility and $500.0 Million Term Loan \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,250,000,000
3.000% Senior Notes due 2022 \| Senior Notes
Debt Instrument [Line Items]
Interest rate, stated percentage			3.00%				3.00%
Revolving Credit Facility \| $1.25 Billion Revolving Credit Facility and $500.0 Million Term Loan
Debt Instrument [Line Items]
Net leverage ratio	4.0
Revolving Credit Facility \| $1.25 Billion Revolving Credit Facility and $500.0 Million Term Loan \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,250,000,000		$ 1,250,000,000
Revolving Credit Facility \| $1.25 Billion Revolving Credit Facility and $500.0 Million Term Loan \| Minimum
Debt Instrument [Line Items]
Consolidated debt including operating lease liability less cash	300,000,000
Revolving Credit Facility \| $900.0 Million Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 900,000,000.0
Net leverage ratio						4.0
Required available liquidity threshold						$ 700,000,000
Revolving Credit Facility \| $900.0 Million Revolving Credit Facility \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Revolving Credit Facility \| $900.0 Million Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Term Loan \| $1.25 Billion Revolving Credit Facility and $500.0 Million Term Loan \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000		$ 500,000,000.0
Debt instrument, delayed draw period	2 months
Interest rate, stated percentage	5.00%

Debt (Senior Notes) (Details) - USD ($)					3 Months Ended	12 Months Ended
Debt (Senior Notes) (Details) - USD ($)	Jun. 15, 2022	Dec. 01, 2021	Jun. 20, 2017	Mar. 02, 2015	Jan. 01, 2022	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Debt Instrument [Line Items]
Loss on extinguishment of debt						$ 53,700,000	$ 0	$ 0
Senior Notes \| 3.050% Senior Notes due 2032
Debt Instrument [Line Items]
Interest rate, stated percentage		3.05%				3.05%
Debt instrument, face amount		$ 500,000,000
Debt instrument, issuance amount, percent of par		99.705%
Debt instrument, redemption price, percentage		100.00%
Senior Notes \| 3.050% Senior Notes due 2032 \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value						$ 409,000,000
Senior Notes \| 3.050% Senior Notes due 2032 \| 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]
Interest rate, stated percentage		4.125%	4.125%			4.125%
Debt instrument, face amount			$ 600,000,000
Debt instrument, issuance amount, percent of par			99.858%
Debt instrument, redemption price, percentage			100.00%
Tender offer, outstanding debt		$ 203,400,000
Tender premium		$ 22,400,000
Senior Notes \| 4.125% Senior Notes due 2027 \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value						$ 383,000,000	659,300,000
Senior Notes \| 4.125% Senior Notes due 2027 \| Adjusted Treasury Rate
Debt Instrument [Line Items]
Debt instrument, redemption, basis spread on variable discount rate			0.30%
Senior Notes \| 4.250% Senior Notes due 2025
Debt Instrument [Line Items]
Interest rate, stated percentage		4.25%		4.25%		4.25%
Debt instrument, face amount				$ 600,000,000
Debt instrument, issuance amount, percent of par				99.445%
Debt instrument, redemption price, percentage				100.00%
Tender offer, outstanding debt		$ 296,600,000
Tender premium		26,800,000
Long-term debt, maturities, redemption period before maturity				90 days
Senior Notes \| 4.250% Senior Notes due 2025 \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value						$ 304,100,000	651,900,000
Senior Notes \| 4.250% Senior Notes due 2025 \| Adjusted Treasury Rate
Debt Instrument [Line Items]
Debt instrument, redemption, basis spread on variable discount rate				0.35%
Senior Notes \| 4.125% Senior Notes due 2027 and 4.250% Senior Notes due 2025
Debt Instrument [Line Items]
Debt instrument, debt issuance costs, tender fees, and unamortized original discount		$ 4,500,000
Loss on extinguishment of debt					$ 53,700,000
Senior Notes \| 3.000% Senior Notes due 2022
Debt Instrument [Line Items]
Interest rate, stated percentage			3.00%			3.00%
Debt instrument, face amount	$ 400,000,000		$ 400,000,000
Debt instrument, issuance amount, percent of par			99.505%
Debt instrument, redemption price, percentage of principal amount redeemed	100.00%
Accrued and unpaid interest to the redemption date	$ 5,000,000
Senior Notes \| 3.000% Senior Notes due 2022 \| Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt, fair value							$ 407,400,000

Debt (Debt Maturities) (Details) $ in Millions	Jul. 02, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 31.2
2024	25.0
2025	328.4
2026	25.0
2027	393.8
Thereafter	896.6
Total Long-Term Debt, net	$ 1,700.0

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Commitments and Contingencies Disclosure [Line Items]
Letters of credit amount outstanding	$ 37.8	$ 40.5
Transition tax for accumulated foreign earnings, payable	127.1
Debt repayment obligations	1,700.0
Finance lease obligations	4.1
Senior Notes
Commitments and Contingencies Disclosure [Line Items]
Interest payment obligation	347.5
Inventories
Commitments and Contingencies Disclosure [Line Items]
Contractual cash obligations	460.7
Capital Expenditures And Cloud Computing Implementation Commitments
Commitments and Contingencies Disclosure [Line Items]
Contractual cash obligations	49.7
Other Commitments
Commitments and Contingencies Disclosure [Line Items]
Contractual cash obligations	$ 323.5

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 28, 2020	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill and intangible assets		$ 0	$ 0	$ 477,700,000
Goodwill impairment		$ 0	$ 0	0
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life		7 years 9 months 18 days
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life		10 years
Stuart Weitzman
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 210,700,000			210,700,000
Trademarks and trade names \| Stuart Weitzman
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 267,000,000			$ 267,000,000

Goodwill and Other Intangible Assets (Change in Carrying Value of Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Goodwill [Roll Forward]
Beginning balance	$ 1,297.3	$ 1,301.1
Foreign exchange impact	(55.8)	(3.8)
Ending balance	1,241.5	1,297.3
Coach
Goodwill [Roll Forward]
Beginning balance	656.3	661.7
Foreign exchange impact	(47.2)	(5.4)
Ending balance	609.1	656.3
Kate Spade
Goodwill [Roll Forward]
Beginning balance	641.0	639.4
Foreign exchange impact	(8.6)	1.6
Ending balance	632.4	641.0
Stuart Weitzman
Goodwill [Roll Forward]
Beginning balance	0.0	0.0
Foreign exchange impact	0.0	0.0
Ending balance	0.0	0.0
Net of accumulated goodwill impairment charges	$ 210.7	$ 210.7	$ 210.7

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Other Intangible Assets (Indefinite and Finite Lived Assets) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Intangible assets subject to amortization:
Gross carrying amount, Customer relationships	$ 100.3	$ 100.5
Accumulated amortization, Customer relationships	(43.5)	(36.9)
Finite-lived intangible assets, net	56.8	63.6
Intangible assets not subject to amortization:
Indefinite-lived intangible assets (excluding goodwill), Trademarks and trade names	1,309.8	1,309.8
Intangible assets, gross (excluding goodwill)	1,410.1	1,410.3
Intangible assets, net (excluding goodwill)	$ 1,366.6	$ 1,373.4

Goodwill and Other Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Expected Amortization Expense for Intangible Assets
Fiscal 2023	$ 6.5
Fiscal 2024	6.5
Fiscal 2025	6.5
Fiscal 2026	6.5
Fiscal 2027	6.5
Thereafter	24.3
Finite-lived intangible assets, net	$ 56.8	$ 63.6

Income Taxes (Provisions for Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Income before provision for income taxes, amount
United States	$ 392.0	$ 341.0	$ (496.4)
Foreign	655.0	556.3	(127.8)
Income (loss) before provision for income taxes	1,047.0	897.3	(624.2)
Tax expense at U.S. statutory rate	219.9	188.4	(131.1)
State taxes, net of federal benefit	15.8	18.0	3.9
Effects of foreign operations	(3.5)	6.5	89.8
Effects of tax credits and reorganization	(49.8)	(94.5)	(28.6)
Effects of Impairment	0.0	0.0	91.7
Change in state valuation allowance	0.0	11.5	1.6
Impact of net operating loss carryback		(65.4)	(8.3)
Other, net	8.3	(1.4)	8.9
Taxes at effective worldwide rates	190.7	$ 63.1	$ 27.9
US federal foreign tax credits	$ 60.9
Income before provision for income taxes, percentage
United States	37.40%	38.00%	79.50%
Foreign	62.60%	62.00%	20.50%
Total income before provision for income taxes	100.00%	100.00%	100.00%
Tax expense at U.S. statutory rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	1.50%	2.00%	(0.60%)
Effects of foreign operations	(0.30%)	0.70%	(14.40%)
Effects of tax credits and reorganization	(4.80%)	(10.50%)	4.60%
Effects of Impairment	0.00%	0.00%	(14.70%)
Change in state valuation allowance	0.00%	1.30%	(0.30%)
Impact of net operating loss carryback	0.00%	(7.30%)	1.30%
Other, net	0.80%	(0.20%)	(1.40%)
Taxes at effective worldwide rates	18.20%	7.00%	(4.50%)

Income Taxes (Current and Deferred Tax Provisions) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Current
Federal	$ 104.0	$ (80.0)	$ 74.1
Foreign	46.6	63.8	68.8
State	10.7	26.7	0.7
Total current and deferred tax provision (benefit)	161.3	10.5	143.6
Deferred
Federal	13.9	57.3	(88.7)
Foreign	11.2	(9.4)	(30.9)
State	4.3	4.7	3.9
Total current and deferred tax provision (benefit)	$ 29.4	$ 52.6	$ (115.7)

Income Taxes (Components of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021
Deferred Tax Assets, Gross [Abstract]
Share-based compensation	$ 26.1	$ 28.6
Reserves not deductible until paid	51.1	46.4
Employee benefits	36.7	43.6
Net operating loss	74.7	88.6
Other	19.6	19.6
Inventory	28.8	33.0
Lease liability	335.3	418.1
Gross deferred tax assets	572.3	677.9
Valuation allowance	51.6	65.9
Deferred tax assets after valuation allowance	520.7	612.0
Deferred Tax Liabilities, Gross [Abstract]
Goodwill	69.1	85.4
Other intangibles	309.6	303.7
Property and equipment	11.3	20.3
Foreign investments	23.5	14.4
Right-of-use	280.4	324.6
Prepaid expenses	0.6	1.9
Gross deferred tax liabilities	694.5	750.3
Net deferred tax (liabilities) assets	(173.8)	(138.3)
Consolidated Balance Sheets Classification
Deferred income taxes – noncurrent asset	47.9	65.6
Deferred income taxes – noncurrent liability	$ (221.7)	$ (203.9)

Income Taxes (Unrecognized Tax Benefits Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of fiscal year	$ 111.4	$ 88.5	$ 85.8
Gross increase due to tax positions related to prior periods	1.6	38.3	11.2
Gross decrease due to tax positions related to prior periods	(11.7)	(9.4)	(1.6)
Gross increase due to tax positions related to current period	7.4	6.8	6.8
Decrease due to lapse of statutes of limitations	(10.9)	(12.0)	(8.6)
Decrease due to settlements with taxing authorities	(1.7)	(0.8)	(5.1)
Balance at end of fiscal year	$ 96.1	$ 111.4	$ 88.5

Income Taxes (Narrative) (Details) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) $ in Millions	Jul. 02, 2022 USD ($) audit	Jul. 03, 2021 USD ($)	Jun. 27, 2020 USD ($)	Jun. 29, 2019 USD ($)
Income Tax Contingency [Line Items]
Gross unrecognized tax benefit	$ 96.1	$ 111.4	$ 88.5	$ 85.8
Unrecognized tax benefit that would impact effective tax rate	88.3	98.1
Gross interest and penalties payable	8.2	10.1
Interest and penalty expense (income)	(1.5)	0.8	$ (1.2)
Net operating loss	74.7	88.6
Valuation allowance	51.6	65.9
Undistributed earnings of foreign subsidiaries	747.6	1,010.0
Deferred income taxes	221.7	203.9
Transition tax for accumulated foreign earnings, payable	$ 127.1
Minimum
Income Tax Contingency [Line Items]
Number of audits anticipated to be finalized \| audit	1
Deferred tax liability not recognized, amount of unrecognized deferred tax liability, undistributed earnings of foreign subsidiaries	$ 2.0
Maximum
Income Tax Contingency [Line Items]
Deferred tax liability not recognized, amount of unrecognized deferred tax liability, undistributed earnings of foreign subsidiaries	4.0
State
Income Tax Contingency [Line Items]
Net operating loss	706.0	705.6
Pending distribution of accumulated earnings of foreign subsidiary	525.5
Deferred income taxes	1.9
Foreign
Income Tax Contingency [Line Items]
Net operating loss	$ 123.9	$ 211.7

Income Taxes (Annual Payments) (Details) $ in Millions	Jul. 02, 2022 USD ($)
Income Tax Disclosure [Abstract]
Fiscal 2023	$ 31.8
Fiscal 2024	42.4
Fiscal 2025	52.9
Total	$ 127.1

Defined Contribution Plan (Details) - USD ($) $ in Millions	12 Months Ended
Defined Contribution Plan (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Retirement Benefits [Abstract]
Defined contribution plan expense	$ 11.8	$ 10.6	$ 12.3

Segment Information (Narrative) (Details)	12 Months Ended
Segment Information (Narrative) (Details)	Jul. 02, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information (Summary of Segment Performance) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Segment Reporting Information [Line Items]
Net sales	$ 6,684.5	$ 5,746.3	$ 4,961.4
Gross profit	4,650.4	4,081.9	3,239.3
Operating income (loss)	1,175.8	968.0	(550.8)
Income (loss) before provision for income taxes	1,047.0	897.3	(624.2)
Depreciation and amortization expense	195.3	220.5	829.2
Total assets	7,265.3	8,382.4	7,924.2
Additions to long-lived assets	161.6	116.0	206.4
Integration and acquisitions costs, depreciation and amortization expense			0.4
Impairment of goodwill and intangible assets	0.0	45.8	813.5
Acceleration Program
Segment Reporting Information [Line Items]
Integration and acquisitions costs, depreciation and amortization expense		1.8
Coach
Segment Reporting Information [Line Items]
Net sales	4,921.3	4,253.1	3,525.7
Gross profit			61.9
Impairment of goodwill and intangible assets			44.6
Coach \| Cost of Sales
Segment Reporting Information [Line Items]
Inventory, raw material, reserves		(8.1)
Kate Spade
Segment Reporting Information [Line Items]
Net sales	1,445.5	1,210.0	1,149.5
Gross profit			32.3
Impairment of goodwill and intangible assets			36.0
Stuart Weitzman
Segment Reporting Information [Line Items]
Net sales	317.7	283.2	286.2
Gross profit			9.8
Impairment of goodwill and intangible assets			499.9
Operating Segments \| Coach
Segment Reporting Information [Line Items]
Net sales	4,921.3	4,253.1	3,525.7
Gross profit	3,553.8	3,149.0	2,411.6
Operating income (loss)	1,473.9	1,312.1	589.4
Income (loss) before provision for income taxes	1,473.9	1,312.1	589.4
Depreciation and amortization expense	110.1	102.2	159.1
Total assets	2,392.2	2,513.5	2,616.6
Additions to long-lived assets	52.3	37.3	75.7
Operating Segments \| Kate Spade
Segment Reporting Information [Line Items]
Net sales	1,445.5	1,210.0	1,149.5
Gross profit	912.0	768.4	682.9
Operating income (loss)	157.4	108.5	(99.3)
Income (loss) before provision for income taxes	157.4	108.5	(99.3)
Depreciation and amortization expense	48.5	46.8	97.8
Total assets	2,641.3	2,707.3	2,769.2
Additions to long-lived assets	14.2	13.5	62.0
Operating Segments \| Stuart Weitzman
Segment Reporting Information [Line Items]
Net sales	317.7	283.2	286.2
Gross profit	184.6	164.5	144.8
Operating income (loss)	1.8	(8.6)	(621.4)
Income (loss) before provision for income taxes	1.8	(8.6)	(621.4)
Depreciation and amortization expense	10.3	13.3	518.8
Total assets	269.3	298.6	305.1
Additions to long-lived assets	2.6	3.4	14.3
Corporate
Segment Reporting Information [Line Items]
Net sales	0.0	0.0	0.0
Gross profit	0.0	0.0	0.0
Operating income (loss)	(457.3)	(444.0)	(419.5)
Income (loss) before provision for income taxes	(586.1)	(514.7)	(492.9)
Depreciation and amortization expense	26.4	58.2	53.5
Total assets	1,962.5	2,863.0	2,233.3
Additions to long-lived assets	$ 92.5	$ 61.8	$ 54.4

Segment Information (Net Sales by Product Category) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Revenue from External Customer [Line Items]
Net sales	$ 6,684.5	$ 5,746.3	$ 4,961.4
Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	100.00%	100.00%	100.00%
Coach
Revenue from External Customer [Line Items]
Net sales	$ 4,921.3	$ 4,253.1	$ 3,525.7
Coach \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	73.00%	74.00%	71.00%
Coach \| Women's Handbags
Revenue from External Customer [Line Items]
Net sales	$ 2,574.8	$ 2,302.3	$ 1,852.0
Coach \| Women's Handbags \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	38.00%	40.00%	37.00%
Coach \| Women's Accessories
Revenue from External Customer [Line Items]
Net sales	$ 942.5	$ 776.7	$ 645.4
Coach \| Women's Accessories \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	14.00%	14.00%	13.00%
Coach \| Men's
Revenue from External Customer [Line Items]
Net sales	$ 904.8	$ 769.3	$ 688.0
Coach \| Men's \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	14.00%	13.00%	14.00%
Coach \| Other Products
Revenue from External Customer [Line Items]
Net sales	$ 499.2	$ 404.8	$ 340.3
Coach \| Other Products \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	7.00%	7.00%	7.00%
Kate Spade
Revenue from External Customer [Line Items]
Net sales	$ 1,445.5	$ 1,210.0	$ 1,149.5
Kate Spade \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	22.00%	21.00%	23.00%
Kate Spade \| Women's Handbags
Revenue from External Customer [Line Items]
Net sales	$ 819.5	$ 681.5	$ 648.9
Kate Spade \| Women's Handbags \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	12.00%	12.00%	13.00%
Kate Spade \| Women's Accessories
Revenue from External Customer [Line Items]
Net sales	$ 307.0	$ 259.2	$ 240.6
Kate Spade \| Women's Accessories \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	5.00%	4.00%	5.00%
Kate Spade \| Other Products
Revenue from External Customer [Line Items]
Net sales	$ 319.0	$ 269.3	$ 260.0
Kate Spade \| Other Products \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	5.00%	5.00%	5.00%
Stuart Weitzman
Revenue from External Customer [Line Items]
Net sales	$ 317.7	$ 283.2	$ 286.2
Stuart Weitzman \| Net Sales \| Product Concentration Risk
Revenue from External Customer [Line Items]
Percent of total sales	5.00%	5.00%	6.00%

Segment Information (Geographic Area Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Segment Reporting Information [Line Items]
Net sales	$ 6,684.5	$ 5,746.3	$ 4,961.4
Long-lived assets	2,035.5	2,270.7	2,634.6
United States
Segment Reporting Information [Line Items]
Net sales	4,174.3	3,365.9	2,839.7
Long-lived assets	1,578.9	1,722.2	1,933.6
Japan
Segment Reporting Information [Line Items]
Net sales	578.8	598.9	602.9
Long-lived assets	94.0	132.0	166.0
Greater China
Segment Reporting Information [Line Items]
Net sales	1,026.6	1,094.1	730.3
Long-lived assets	131.0	125.7	156.0
Other
Segment Reporting Information [Line Items]
Net sales	904.8	687.4	788.5
Long-lived assets	$ 231.6	$ 290.8	$ 379.0

- Definition

+ References

+ Details

Earnings Per Share (Reconciliation of Weighted Average Shares Outstanding and Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 856.3	$ 834.2	$ (652.1)
Weighted-average basic shares (shares)	264,300,000	277,900,000	278,600,000
Effect of dilutive securities (shares)	5,800,000	5,100,000	0
Weighted-average diluted shares (shares)	270,100,000	283,000,000.0	278,600,000
Net income (loss) per share:
Basic (USD per share)	$ 3.24	$ 3.00	$ (2.34)
Diluted (USD per share)	$ 3.17	$ 2.95	$ (2.34)

- 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 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: 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(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: 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(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 17: 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(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: 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(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: 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(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 16: 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(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ 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 (Narrative) (Details) - $ / shares shares in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options' exercise prices, lower limit (USD per share)	$ 33.46	$ 44.97	$ 15.38
Options' exercise prices, upper limit (USD per share)	$ 58.54	$ 78.46	$ 78.46
Options to Purchase Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to purchase shares of common stock excluded from the computation of diluted earnings per share (shares)	5.4	3.7	15.0
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options to purchase shares of common stock excluded from the computation of diluted earnings per share (shares)	6.9	5.0	16.2

Related Parties (Details) - Stuart Weitzman Brand - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Related Party Transaction [Line Items]
Payments to related parties	$ 15.6	$ 17.9
Stuart Weitzman
Related Party Transaction [Line Items]
Ownership percentage	50.00%

Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020	Jun. 29, 2019
Property and equipment
Land and building	$ 8.0	$ 8.0
Machinery and equipment	50.1	46.9
Software and computer equipment	584.7	601.6
Furniture and fixtures	310.7	320.9
Leasehold improvements	738.2	799.2
Construction in progress	40.4	45.6
Less: accumulated depreciation	(1,187.7)	(1,144.1)
Total property and equipment, net	544.4	678.1
Accrued liabilities
Payroll and employee benefits	212.4	216.1
Accrued rent	18.9	20.0
Accrued income taxes	35.8	52.0
Accrued freight	80.4	48.9
Operating expenses	280.7	324.2
Total accrued liabilities	628.2	661.2
Other liabilities
Deferred lease obligation	46.0	62.2
Gross unrecognized tax benefit	96.1	111.4	$ 88.5	$ 85.8
Other	110.4	76.1
Total other liabilities	$ 252.5	$ 249.7

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jun. 27, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 100.2	$ 84.5	$ 65.7
Additions Charged to Costs and Expenses	42.3	65.7	104.3
Write-offs/ Allowances Taken	(64.4)	(50.0)	(85.5)
Balance at End of Year	78.1	100.2	84.5
Allowance for credit losses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	4.2	15.9	4.4
Additions Charged to Costs and Expenses	19.9	2.8	26.0
Write-offs/ Allowances Taken	(20.4)	(14.5)	(14.5)
Balance at End of Year	3.7	4.2	15.9
Allowance for returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	18.7	19.3	10.6
Additions Charged to Costs and Expenses	8.8	18.6	29.1
Write-offs/ Allowances Taken	(16.3)	(19.2)	(20.4)
Balance at End of Year	11.2	18.7	19.3
Allowance for markdowns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	11.4	9.7	17.8
Additions Charged to Costs and Expenses	13.6	16.6	39.9
Write-offs/ Allowances Taken	(13.4)	(14.9)	(48.0)
Balance at End of Year	11.6	11.4	9.7
Valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	65.9	39.6	32.9
Additions Charged to Costs and Expenses	0.0	27.7	9.3
Write-offs/ Allowances Taken	(14.3)	(1.4)	(2.6)
Balance at End of Year	$ 51.6	$ 65.9	$ 39.6