Document and Entity Information	12 Months Ended
Document and Entity Information	Jul. 01, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	TAPESTRY, INC.
Trading Symbol	TPR
Entity Central Index Key	0001116132
Entity Filer Category	Large Accelerated Filer
Document Type	8-K
Document Period End Date	Jul. 01, 2017
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Current Assets:
Cash and cash equivalents	$ 2,672.9	$ 859.0
Short-term investments	410.7	460.4
Trade accounts receivable, less allowances of $1.9 and $2.2, respectively	268.0	245.2
Inventories	469.7	459.2
Income tax receivable	41.5	13.6
Prepaid expenses	58.6	58.0
Other current assets	31.9	77.5
Total current assets	3,953.3	2,172.9
Property and equipment, net	691.4	919.5
Long-term investments	75.1	558.6
Goodwill	480.5	502.4
Intangible assets	340.8	346.8
Deferred income taxes	170.5	248.8
Other assets	120.0	143.7
Total assets	5,831.6	4,892.7
Current Liabilities:
Accounts payable	194.6	186.7
Accrued liabilities	559.2	625.0
Current debt	0.0	15.0
Total current liabilities	753.8	826.7
Long-term debt	1,579.5	861.2
Other liabilities	496.4	521.9
Total liabilities	2,829.7	2,209.8
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 – 281.9 million and 278.5 million shares, respectively	2.8	2.8
Additional paid-in-capital	2,978.3	2,857.1
Retained earnings (accumulated deficit)	107.7	(104.1)
Accumulated other comprehensive loss	(86.9)	(72.9)
Total stockholders’ equity	3,001.9	2,682.9
Total liabilities and stockholders’ equity	$ 5,831.6	$ 4,892.7

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Statement of Financial Position [Abstract]
Trade accounts receivable, allowances	$ 1.9	$ 2.2
Preferred stock, authorized (shares)	25,000,000	25,000,000
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, issued (shares)	0	0
Common stock, authorized (shares)	1,000,000,000.0	1,000,000,000.0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, issued (shares)	281,900,000	278,500,000
Common stock, outstanding (shares)	281,900,000	278,500,000

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Income Statement [Abstract]
Net sales	$ 4,488.3	$ 4,491.8	$ 4,191.6
Cost of sales	1,407.2	1,440.5	1,283.0
Gross profit	3,081.1	3,051.3	2,908.6
Selling, general and administrative expenses	2,293.7	2,397.8	2,290.6
Operating income	787.4	653.5	618.0
Interest expense, net	28.4	26.9	6.4
Income before provision for income taxes	759.0	626.6	611.6
Provision for income taxes	168.0	166.1	209.2
Net income	$ 591.0	$ 460.5	$ 402.4
Net income per share:
Basic (USD per share)	$ 2.11	$ 1.66	$ 1.46
Diluted (USD per share)	$ 2.09	$ 1.65	$ 1.45
Shares used in computing net income per share:
Basic (shares)	280.6	277.6	275.7
Diluted (shares)	282.8	279.3	277.2
Cash dividends declared per common share (USD per share)	$ 1.350	$ 1.35	$ 1.350

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Statement of Comprehensive Income [Abstract]
Net Income	$ 591.0	$ 460.5	$ 402.4
Other comprehensive (loss) income, net of tax:
Unrealized gains (losses) on cash flow hedging derivatives, net	11.8	(13.2)	3.8
Unrealized (losses) on available-for-sale debt investments, net	(0.7)	(0.2)	(1.3)
Change in pension liability, net	1.1	(0.6)	1.0
Foreign currency translation adjustments	(26.2)	18.8	(72.5)
Other comprehensive (loss) income, net of tax	(14.0)	4.8	(69.0)
Comprehensive income	$ 577.0	$ 465.3	$ 333.4

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in-Capital	(Accumulated Deficit)/ Retained Earnings	Accumulated Other Comprehensive (Loss)/Income
Beginning balance (in shares) at Jun. 28, 2014		274.4
Beginning balance at Jun. 28, 2014	$ 2,420.6	$ 2.7	$ 2,646.1	$ (219.5)	$ (8.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	402.4			402.4
Other comprehensive income (loss)	(69.0)				(69.0)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes (in shares)		2.2
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	19.6	$ 0.1	19.5
Share-based compensation	94.4		94.4
Excess tax effect from share-based compensation	(5.6)		(5.6)
Dividends declared	(372.5)			(372.5)
Ending balance (in shares) at Jun. 27, 2015		276.6
Ending balance at Jun. 27, 2015	2,489.9	$ 2.8	2,754.4	(189.6)	(77.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	460.5			460.5
Other comprehensive income (loss)	4.8				4.8
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes (in shares)		1.9
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	16.4	$ 0.0	16.4
Share-based compensation	95.3		95.3
Excess tax effect from share-based compensation	(9.0)		(9.0)
Dividends declared	(375.0)			(375.0)
Ending balance (in shares) at Jul. 02, 2016		278.5
Ending balance at Jul. 02, 2016	2,682.9	$ 2.8	2,857.1	(104.1)	(72.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	591.0			591.0
Other comprehensive income (loss)	(14.0)				(14.0)
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes (in shares)		3.4
Shares issued, pursuant to stock-based compensation arrangements, net of shares withheld for taxes	48.9	$ 0.0	48.9
Share-based compensation	76.1		76.1
Excess tax effect from share-based compensation	(3.8)		(3.8)
Dividends declared	(379.2)			(379.2)
Ending balance (in shares) at Jul. 01, 2017		281.9
Ending balance at Jul. 01, 2017	$ 3,001.9	$ 2.8	$ 2,978.3	$ 107.7	$ (86.9)

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Statement of Stockholders' Equity [Abstract]
Dividends declared (USD per share)	$ 1.350	$ 1.35	$ 1.350

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES
Net income	$ 591.0	$ 460.5	$ 402.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	212.8	210.6	191.8
Provision for bad debt	1.7	3.7	1.7
Share-based compensation	73.6	86.8	88.9
Excess tax effect from share-based compensation	3.8	9.0	5.6
Restructuring activities	8.5	17.7	59.7
Deferred income taxes	78.0	(52.3)	21.5
Other noncash charges, net	(19.1)	(14.7)	(3.2)
Changes in operating assets and liabilities:
Trade accounts receivable	(29.4)	(28.3)	0.3
Inventories	(20.0)	40.7	29.2
Other liabilities	(53.4)	49.5	(5.9)
Accounts payable	8.4	(48.4)	64.4
Accrued liabilities	(50.1)	30.1	63.2
Other assets	48.0	(6.3)	17.8
Net cash provided by operating activities	853.8	758.6	937.4
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES
Hudson Yards sale of investments, net of expenses	680.6	0.0	0.0
Sale of former headquarters, net of expenses	126.0	0.0	0.0
Acquisition of interest in equity method investment	0.0	(140.3)	(139.1)
Acquisitions, net of cash acquired	0.0	(25.6)	(519.6)
Purchases of property and equipment	(283.1)	(396.4)	(199.3)
Purchases of investments	(523.5)	(664.7)	(49.6)
Proceeds from maturities and sales of investments	591.2	425.9	305.2
Acquisition of lease rights, net of proceeds	1.8
Acquisition of lease rights, net of proceeds		(8.9)	(10.5)
Net cash provided by (used in) investing activities	593.0	(810.0)	(612.9)
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES
Dividend payments	(378.0)	(374.5)	(371.8)
Proceeds from issuance of debt, net of discount	997.2	0.0	896.7
Debt issuance costs	(9.8)	0.0	(6.6)
Repayment of debt	(285.0)	(15.0)	(0.5)
Proceeds from share-based awards	70.4	29.1	36.5
Borrowings under revolving credit facility	0.0	0.0	340.0
Repayment of revolving credit facility	0.0	0.0	(480.0)
Taxes paid to net settle share-based awards	(21.5)	(15.5)	(15.6)
Excess tax effect from share-based compensation	(3.8)	(9.0)	(5.6)
Acquisition-related payment of contingent consideration	0.0	0.0	(3.8)
Net cash provided by (used in) financing activities	369.5	(384.9)	389.3
Effect of exchange rate changes on cash and cash equivalents	(2.4)	3.5	(13.9)
Increase (decrease) in cash and cash equivalents	1,813.9	(432.8)	699.9
Cash and cash equivalents at beginning of year	859.0	1,291.8	591.9
Cash and cash equivalents at end of year	2,672.9	859.0	1,291.8
Supplemental information:
Cash paid for income taxes, net	159.1	158.9	180.3
Cash paid for interest	35.4	33.7	1.4
Noncash investing activity – property and equipment obligations	$ 39.7	$ 48.0	$ 59.5

Nature of Operations	12 Months Ended
Nature of Operations	Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NATURE OF OPERATIONS Tapestry, Inc. (the "Company") is a leading New York-based house of modern luxury accessories and lifestyle brands. Tapestry owns the Coach and Stuart Weitzman brands. The Company’s primary product offerings, manufactured by third-party suppliers, include women’s and men’s bags, small leather goods, footwear, ready-to-wear including outerwear, watches, weekend and travel accessories, scarves, eyewear, fragrance, jewelry and other lifestyle products. The Company realigned its reportable segments with the new structure of its business, following the acquisition of Kate Spade & Company ("Kate Spade") on July 11, 2017. As a result of this realignment, the Company has three reportable segments, beginning in fiscal 2018: Coach, Kate Spade and Stuart Weitzman. Coach and Stuart Weitzman are presented herein for the recasted segments. The Company's former North America and International segments have been consolidated within the new Coach segment. Refer to Note 15, "Segment Information," for the retrospectively recasted segment performance. The Coach segment includes worldwide sales of Coach brand products to customers through Coach operated stores, including the Internet, concession shop-in-shops and sales to wholesale customers and independent third party distributors. The Stuart Weitzman segment includes worldwide sales of Stuart Weitzman brand products primarily to wholesale customers, numerous independent third party distributors and through Stuart Weitzman operated stores, including the Internet.

Significant Accounting Policies

12 Months Ended

Jul. 01, 2017

Accounting Policies [Abstract]

Significant Accounting Policies

SIGNIFICANT ACCOUNTING POLICIES

Fiscal Year

The Company’s fiscal year ends on the Saturday closest to June 30. Unless otherwise stated, references to years in the financial statements relate to fiscal years. The fiscal year ended July 1, 2017 (“fiscal 2017”) was a 52-week period, the fiscal year ended July 2, 2016 (“fiscal 2016”) was a 53-week period and the fiscal year ended June 27, 2015 (“fiscal 2015”) was a 52-week period. The fiscal year ending June 30, 2018 (“fiscal 2018”) will be a 52-week period.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. 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 inventory; customer returns, end-of-season markdowns, and operational chargebacks; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; accounting for income taxes and related uncertain tax positions; the valuation of stock-based compensation awards and related expected forfeiture rates; reserves for restructuring; and accounting for business combinations, amongst others.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and all 100% owned subsidiaries. All intercompany transactions and balances are eliminated in consolidation.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash balances and highly liquid investments with a maturity of three months or less at the date of purchase.

Investments

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 primarily 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. Long-term investments as of July 2, 2016 also include the equity investment related to the Hudson Yards joint venture. Dividend and interest income are recognized when earned.

Investments in companies in which the Company has significant influence, but less than a controlling financial interest, are accounted for using the equity method. Significant influence is generally presumed to exist when the Company owns between 20% and 50% of the investee, however, other factors are considered, such as board representation and the rights to participate in the day-to-day operations of the business. During fiscal 2016, the Company had an equity method investment in Hudson Yards related to an equity interest in an entity formed for the purpose of developing a new office tower in Manhattan.

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 currently invests primarily in corporate debt securities, money market instruments, U.S. government and agency debt securities, municipal government 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 and wholesale distribution channels, including e-commerce sites. Substantially all of the Company's inventories are comprised of finished goods, and are reported at the lower of cost or market. Inventory costs include material, conversion costs, freight and duties and are primarily determined by the first-in, first-out method. 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 computer software is depreciated over lives of three to seven years. Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease terms. Maintenance and repair costs are charged to earnings as incurred while expenditures for major renewals and improvements are capitalized.

Valuation of Long-Lived Assets

Long-lived assets, such as property and equipment, 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 $14.2 million of impairment charges in fiscal 2017 and no material impairment charges in fiscal 2016.

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.

Business Combinations

In connection with an acquisition, the Company records all assets acquired and liabilities assumed of the acquired business at their acquisition date fair value, including the recognition of contingent consideration at fair value on the acquisition date. These fair value determinations require judgment and may involve the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives, and market multiples, among other items. Furthermore, the Company may utilize or consider independent third-party valuation firms when necessary. Refer to Note 7, "Acquisitions," for detailed disclosures related to our acquisitions.

Goodwill and Other Intangible Assets

Upon acquisition, the Company estimates and records the fair value of purchased intangible assets, which primarily consists of trademarks and trade names, customer relationships, lease rights and order backlog. The excess of the purchase consideration over the fair value of net assets acquired, both tangible and intangible, is recorded as goodwill. 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 relief from royalty method, respectively, with consideration of market comparisons and recent transactions. This approach uses significant estimates and assumptions, including projected future cash flows, discount rates and growth rates.

Goodwill and certain other intangible assets deemed to have indefinite useful lives, including trademarks and trade names, are not amortized, but are assessed for impairment at least annually. 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 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, royalty 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, including trademarks and trade names, during the fourth quarter of each fiscal year. The Company determined that there was no impairment in fiscal 2017, fiscal 2016 or fiscal 2015.

Operating Leases

The Company’s leases for office space, retail locations and distribution facilities are accounted for as operating leases. Certain of the Company's leases contain renewal options, rent escalation clauses, and/or landlord incentives. Renewal terms generally reflect market rates at the time of renewal. Rent expense for non-cancelable operating leases with scheduled rent increases and/or landlord incentives is recognized on a straight-line basis over the lease term, including any applicable rent holidays, beginning with the lease commencement date, or the date the Company takes control of the leased space, whichever is sooner. The excess of straight-line rent expense over scheduled payment amounts and landlord incentives is recorded as a deferred rent liability. As of the end of fiscal 2017 and fiscal 2016, deferred rent obligations of $242.4 million and $172.9 million, respectively, were classified primarily within other non-current liabilities in the Company's consolidated balance sheets. Certain rentals are also contingent upon factors such as sales. Contingent rentals are recognized when the achievement of the target (i.e., sale levels), which triggers the related rent payment, is considered probable and estimable.

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 2017 and fiscal 2016, the Company had asset retirement obligations of $22.9 million and $23.9 million, respectively, primarily classified within other non-current liabilities in the Company's consolidated balance sheets.

Revenue Recognition

Revenue is recognized by the Company when there is persuasive evidence of an arrangement, delivery has occurred (and risks and rewards of ownership have been transferred to the buyer), price has been fixed or is determinable, and collectability is reasonably assured.

Retail store and concession-based shop-in-shop revenues are recognized at the point of sale, which occurs when merchandise is sold in an over-the-counter consumer transaction. Internet revenue from sales of products ordered through the Company’s e-commerce sites is recognized upon delivery and receipt of the shipment by its customers and includes shipping and handling charges paid by customers. Retail and internet revenues are reduced by an estimate for returns at the time of sale.

Wholesale revenue is recognized at the time title passes and risk of loss is transferred to customers. Wholesale revenue is recorded net of estimates of markdown allowances, returns and discounts. Estimates for markdown reserves are based on historical trends, actual and forecasted seasonal results, an evaluation of current economic and market conditions, retailer performance, and, in certain cases, contractual terms. Returns and allowances require pre-approval from management and discounts are based on trade terms. The Company reviews and refines these estimates on a quarterly basis. The Company’s historical estimates of these costs have not differed materially from actual results.

Gift cards issued by the Company are recorded as a liability until they are redeemed, at which point revenue is recognized. The Company recognizes income for unredeemed gift cards when the likelihood of a gift card being redeemed by a customer is remote, which is generally approximately three years after the gift card is issued, and the Company determines that it does not have a legal obligation to remit the value of the unredeemed gift card to the relevant jurisdiction as unclaimed or abandoned property. Revenue associated with gift card breakage is not material to the Company’s net operating results.

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 consists of inventory costs and other related costs such as reserves for inventory realizability and shrinkage, destruction costs, damages and replacements.

Selling, General and Administrative ("SG&A") Expenses

SG&A expenses are comprised of four categories: (1) selling; (2) advertising, marketing and design; (3) distribution and customer service; and (4) administrative. Selling expenses include store employee compensation, occupancy costs, supply costs, wholesale and retail account administration compensation globally and the Company's international operating expenses. 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. Administrative expenses 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. Administrative expenses also include global equity compensation expense.

Shipping and Handling

Shipping and handling costs incurred were $45.8 million, $43.6 million and $41.2 million in fiscal 2017, fiscal 2016 and fiscal 2015, 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 direct mail pieces, digital and other media and production costs. In fiscal 2017, fiscal 2016 and fiscal 2015, advertising expenses for the Company totaled $178.3 million, $202.2 million and $160.9 million respectively. 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.

For stock options and share unit awards, 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 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. Deferred taxes are not provided on the undistributed earnings of subsidiaries as such amounts are considered to be permanently invested.

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.

See Note 13, "Income Taxes" herein for further discussion on the Company's income taxes.

Derivative Instruments

The majority of the Company’s purchases and sales involving international parties, excluding international consumer sales, 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 foreign operating subsidiaries’ U.S. dollar-denominated inventory purchases and various cross-currency intercompany loans which are not long term in investment nature. 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 sheet. 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 effective portion of changes in the fair value of these instruments is 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, respectively.

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.

To the extent that a derivative designated as a cash flow hedge is not considered to be effective, any change in its fair value related to such ineffectiveness is immediately recognized in earnings within foreign currency gains (losses). 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 the derivative 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 U.S. dollar and Euro-denominated inventory purchases, as well as various cross-currency intercompany loans. 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 income as follows:


•	Forward currency contracts - These derivatives are recognized 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 2017 to April 2018.

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 payments being hedged are revalued. Current maturity dates are in August 2017, and are renewed monthly when applicable.

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. Gains and losses on the translation of intercompany loans made to foreign subsidiaries that are of a long-term investment nature also are included within this component of equity.

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.

Stock Repurchase and Retirement

The Company accounts for stock repurchases and retirements by allocating the repurchase price to common stock and retained earnings. The repurchase price allocation is based upon the equity contribution associated with historical issuances, beginning with the earliest issuance. Under Maryland law, the Company's state of incorporation, treasury shares are not allowed. As a result, all repurchased shares are retired when acquired. The Company's stock repurchase plan expired at the end of fiscal 2015. Since its initial public offering, the Company has not experienced a net loss in any fiscal year.

Reclassifications

Certain reclassifications on the Consolidated Balance Sheet have been made to the prior period's financial information in order to conform to the current period's presentation.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In January 2017, the Financial Accounting Standards Board ("FASB") issued ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which simplifies the subsequent measurement of goodwill by eliminating the second step from the quantitative goodwill impairment test. Under this guidance, annual or interim goodwill impairment testing will be performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge will then be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, up to the total amount of goodwill allocated to that reporting unit. The requirements of the new standard will be effective for interim and annual goodwill impairment tests performed in fiscal years beginning after December 15, 2019. The Company elected to early adopt this guidance in the fourth quarter of fiscal 2017, with no impact on the Company's consolidated financial statements or notes thereto.

Recently Issued Accounting Pronouncements Not Yet Adopted

In March 2016, the FASB issued ASU No. 2016-09, "Improvements to Employee Share-Based Payment Accounting (Topic 718)," which simplifies several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. Most notably, the Company will be required to recognize all excess tax benefits and shortfalls as income tax expense or benefit in the income statement within the reporting period in which they occur. Therefore, the impact on the consolidated financial statements will be dependent upon future events which are unpredictable. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. The Company will adopt this standard in the first quarter of fiscal 2018.

In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)," which is intended to increase transparency and comparability among companies that enter into leasing arrangements. This ASU requires recognition of lease assets and lease liabilities on the balance sheet for nearly all leases (other than short-term leases), as well as a retrospective recognition and measurement of existing impacted leases. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2020. Early adoption is permitted. The new standard is required to be applied with a modified retrospective approach to each prior reporting period with various optional practical expedients. The Company is currently performing a comprehensive evaluation of the impact of adopting this guidance on its consolidated financial statements and notes thereto. The Company expects the guidance will result in a significant increase to long-term assets and long-term liabilities on its consolidated balance sheets and does not expect it to have a material impact on the consolidated statements of income. This guidance is not expected to have a material impact on the Company's liquidity.

In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers," which provides a single, comprehensive revenue recognition model for all contracts with customers, and contains principles to determine the measurement of revenue and timing of when it is recognized. The model will supersede most existing revenue recognition guidance, and also requires enhanced revenue-related disclosures. The FASB has also issued several related ASUs which provide additional implementation guidance and clarify the requirements of the model. The requirements of the new standard will be effective for annual reporting periods beginning after December 15, 2017, and interim periods within those annual periods, which for the Company is the first quarter of fiscal 2019. Early adoption will be permitted for annual reporting periods beginning after December 15, 2016, including interim periods within those annual periods.

The Company is currently in the process of evaluating the impact that adopting ASU 2014-09 will have on its consolidated financial statements and notes thereto. The Company currently has a cross-functional implementation team in place that is performing a comprehensive evaluation of the impact. The Company’s evaluation efforts to date have included a review of current accounting policies and processes, as well as typical terms in contracts with customers, to identify potential differences upon the adoption of the new standard. Based on these efforts, the Company currently anticipates that the performance obligations underlying its core revenue streams (i.e., its retail and wholesale businesses), and the timing of revenue recognition thereof, will remain substantially unchanged. The Company is in the process of evaluating the impact of the new standard on ancillary sources of revenue, such as its licensing business, which represented approximately 1% of total net sales in fiscal 2017. The Company is currently assessing whether the timing of recognizing contractually guaranteed minimum royalty amounts will change. The Company has not yet determined whether the guidance will be adopted using the full retrospective restatement of all prior periods presented, or using the modified retrospective basis with a cumulative adjustment to opening retained earnings in the year of initial adoption.

Restructuring Activities

12 Months Ended

Jul. 01, 2017

Restructuring and Related Activities [Abstract]

Restructuring Activities

RESTRUCTURING ACTIVITIES

Operational Efficiency Plan

During the fourth quarter of fiscal 2016, the Company announced a plan (the “Operational Efficiency Plan”) to enhance organizational efficiency, update core technology platforms, and streamline its supply chain network. The Operational Efficiency Plan was adopted as a result of a strategic review of the Company’s corporate structure which focused on creating an agile and scalable business model. As a result of this Operational Efficiency Plan, the Company expects to incur overall pre-tax charges of approximately $65-80 million within Corporate expenses. Approximately $55-65 million of these charges will be cash.

Approximately $45-55 million of these charges will be related to organizational efficiencies, which will consist primarily of corporate employee severance and related costs, as well as consulting fees related to process and organizational optimization and accelerated depreciation associated with the retirement of information technology systems. Approximately $15 million of these charges will be related to the initial costs of replacing and updating the Company’s core technology platforms, allowing the Company to support a scalable business model. The remaining $5-10 million of these charges will be related to network optimization, consisting of office location and supply chain consolidations.

During fiscal years 2017 and 2016, the Company incurred Operational Efficiency Plan related charges within SG&A expenses of $24.0 million and $43.9 million, respectively, primarily due to organizational efficiency costs, technology infrastructure costs and to a lesser extent, network optimization costs. Total cumulative charges incurred under the Operational Efficiency Plan to date are $67.9 million. The remaining charges under this plan approximate $10-15 million and will be incurred in fiscal 2018.

A summary of charges and related liabilities under the Company's Operational Efficiency Plan are as follows:



	Organizational Efficiency⁽¹⁾			Technology Infrastructure⁽²⁾			Network Optimization⁽³⁾			Total
	(millions)
Balance as of June 27, 2015	$	—		$	—		$	—		$	—
Fiscal 2016 charges	40.4			—			3.5			43.9
Cash payments	(9.7		)	—			—			(9.7		)
Non-cash charges	(8.5		)	—			(0.3		)	(8.8		)
Balance as of July 2, 2016	$	22.2		$	—		$	3.2		$	25.4
Fiscal 2017 charges	15.6			8.0			0.4			24.0
Cash payments	(23.3		)	(7.7		)	(3.0		)	(34.0		)
Non-cash charges	(7.9		)	—			(0.6		)	(8.5		)
Balance at July 1, 2017	$	6.6		$	0.3		$	—		$	6.9


⁽¹⁾	Organizational efficiency charges, recorded within SG&A expenses, primarily related to severance and related costs of corporate employees, accelerated depreciation associated with the retirement of information technology systems as well as consulting fees related to process and organizational optimization.


⁽²⁾	Technology infrastructure costs, recorded within SG&A expenses, related to the initial costs of replacing and updating the Company's core technology platforms.


⁽³⁾	Network optimization costs, recorded within SG&A expenses, related to lease termination costs.

The balance as of July 1, 2017 and July 2, 2016 are included within Accrued liabilities on the Company's Consolidated Balance Sheets. The above charges were recorded as Corporate expenses within the Company's Consolidated Statements of Income. See Note 15, "Segment Information," for further information.

Transformation Plan

During the fourth quarter of fiscal year ended June 28, 2014 ("fiscal 2014"), the Company announced a multi-year strategic plan to transform the Coach brand and reinvigorate growth. This multi-faceted, multi-year transformation plan (the "Transformation Plan"), which continued through the end of fiscal 2016, included key operational and cost measures, including: (i) the investment in capital improvements in stores and wholesale locations to drive comparable sales improvement; (ii) the optimization and streamlining of the Company's organizational model as well as the closure of underperforming stores in North America, and select International stores; (iii) the realignment of inventory levels and mix to reflect the Company's elevated product strategy and consumer preferences; (iv) the investment in incremental advertising costs to elevate consumer perception of the Coach brand, drive sales growth and promote this new strategy, which started in fiscal 2015; and (v) the significant scale-back of promotional cadence in an increased global promotional environment, particularly within the outlet Internet sales site, which began in fiscal 2014.

Total cumulative charges incurred under the Transformation Plan through July 2, 2016 were $321.5 million. The fourth quarter of fiscal 2016 was the last reporting period in which charges were incurred under this plan.

There were no transformation-related charges incurred in fiscal 2017. In fiscal 2016, the Company recorded charges of $44.1 million ($33.4 million after-tax, or $0.12 per diluted share), which were largely related to Coach brand's North America business and recorded within SG&A expenses.

There are no remaining liabilities under the Company's Transformation Plan at July 1, 2017. The balance of liabilities under the Company's Transformation Plan at July 2, 2016 was $5.5 million, and was included within Accrued liabilities on the Company's Consolidated Balance Sheet.

Accumulated Other Comprehensive Income

12 Months Ended

Jul. 01, 2017

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

ACCUMULATED OTHER COMPREHENSIVE INCOME

The components of accumulated other comprehensive loss, as of the dates indicated, are as follows:



	Unrealized Gains (Losses) on Cash Flow Hedges⁽¹⁾			Unrealized Gains (Losses) on Available-for-Sale Debt Securities			Cumulative Translation Adjustment			Other⁽²⁾			Total
	(millions)
Balances at June 27, 2015	$	4.4		$	0.5		$	(81.7	)	$	(0.9	)	$	(77.7	)
Other comprehensive (loss) income before reclassifications	(10.2		)	(0.4		)	18.8			—			8.2
Less: gains (losses) reclassified from accumulated other comprehensive income	3.0			(0.2		)	—			0.6			3.4
Net current-period other comprehensive (loss) income	(13.2		)	(0.2		)	18.8			(0.6		)	4.8
Balances at July 2, 2016	$	(8.8	)	$	0.3		$	(62.9	)	$	(1.5	)	$	(72.9	)
Other comprehensive income (loss) before reclassifications	7.7			(0.7		)	(26.2		)	—			(19.2		)
Less: losses reclassified from accumulated other comprehensive income	(4.1		)	—			—			(1.1		)	(5.2		)
Net current-period other comprehensive income (loss)	11.8			(0.7		)	(26.2		)	1.1			(14.0		)
Balances at July 1, 2017	$	3.0		$	(0.4	)	$	(89.1	)	$	(0.4	)	$	(86.9	)


⁽¹⁾	The ending balances of AOCI related to cash flow hedges are net of tax of $(1.8) million and $4.5 million as of July 1, 2017 and July 2, 2016, respectively. The amounts reclassified from AOCI are net of tax of $2.2 million and $(1.4) million as of July 1, 2017 and July 2, 2016, respectively.


⁽²⁾	As of July 1, 2017 and July 2, 2016, Other represents the accumulated loss on the Company's minimum pension liability adjustment. The balances at July 1, 2017 and July 2, 2016 are net of tax of $0.2 million and $0.8 million, respectively.

Share-Based Compensation

12 Months Ended

Jul. 01, 2017

Disclosure of Compensation Related Costs, Share-based Payments [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 Income:



	July 1, 2017⁽¹⁾		July 2, 2016⁽¹⁾		June 27, 2015⁽¹⁾
	(millions)
Share-based compensation expense	$	76.1	$	95.3	$	94.4
Income tax benefit related to share-based compensation expense	24.4		28.6		28.5

⁽¹⁾

During the fiscal years ended July 1, 2017 and July 2, 2016, the Company incurred $2.5 million (and $0.8 million of income tax benefit) and $8.5 million (and $2.4 million of income tax benefit) of share-based compensation expense under the Company's Operational Efficiency Plan, respectively, primarily as a result of the accelerated vesting of certain awards. During the fiscal year ended June 27, 2015, the Company incurred $5.5 million (and $2.0 million of income tax benefit) of share-based compensation expense under the Company's Transformation Plan. See Note 3, "Restructuring Activities," for more information.

Stock-Based Plans

The Company maintains the Amended and Restated 2010 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 2000 Stock Incentive Plan and the 2004 Stock Incentive Plan for awards granted prior to the establishment of the 2010 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 three years. Stock option and share awards are subject to forfeiture until completion of the vesting period, which ranges from one to three 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 year ended July 1, 2017 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 2, 2016	15.1		$	40.18
Granted	3.6		39.87
Exercised	(2.1	)	41.69
Forfeited or expired	(1.6	)	41.53
Outstanding at July 1, 2017	15.0		39.75		6.2	$	118.6
Vested and expected to vest at July 1, 2017	14.7		42.39		6.1	113.9
Exercisable at July 1, 2017	8.5		44.55		4.7	116.8

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 1, 2017		July 2, 2016		June 27, 2015
Expected term (years)	4.4		4.2		3.6
Expected volatility	30.5	%	32.2	%	31.9	%
Risk-free interest rate	1.1	%	1.4	%	1.1	%
Dividend yield	3.4	%	4.3	%	3.7	%

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 current expected annual dividend per share and the Company’s stock price.

The weighted-average grant-date fair value of options granted during fiscal 2017, fiscal 2016 and fiscal 2015 was $7.36, $5.65, and $6.41, respectively. The total intrinsic value of options exercised during fiscal 2017, fiscal 2016 and fiscal 2015 was $15.4 million, $6.2 million, and $12.1 million, respectively. The total cash received from option exercises was $68.2 million, $25.7 million, and $32.4 million in fiscal 2017, fiscal 2016 and fiscal 2015, respectively, and the cash tax benefit realized for the tax deductions from these option exercises was $4.9 million, $2.3 million, and $4.7 million, respectively.

At July 1, 2017, $22.3 million of total unrecognized compensation cost related to non-vested stock option awards is expected to be recognized over a weighted-average period of 1.1 years.

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

A summary of service-based RSU activity during the year ended July 1, 2017 is as follows:



	Number of Non-vested RSUs		Weighted- Average Grant- Date Fair Value per RSU
	(millions)
Non-vested at July 2, 2016	3.7		$	49.06
Granted	2.1		39.57
Vested	(1.8	)	39.18
Forfeited	(0.5	)	35.33
Non-vested at July 1, 2017	3.5		50.28

At July 1, 2017, $60.6 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 of share awards granted during fiscal 2017, fiscal 2016 and fiscal 2015 was $39.57, $31.65 and $36.38, respectively. The total fair value of shares vested during fiscal 2017, fiscal 2016 and fiscal 2015 was $68.9 million, $45.8 million and $48.4 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 year ended July 1, 2017 is as follows:



	Number of Non-vested PRSUs		Weighted- Average Grant- Date Fair Value per PRSU
	(millions)
Non-vested at July 2, 2016	1.4		$	38.67
Granted	0.3		39.61
Change due to performance condition achievement⁽¹⁾	(0.1	)	53.58
Vested⁽¹⁾	—		39.72
Forfeited	(0.1	)	40.16
Non-vested at July 1, 2017	1.5		37.78

⁽¹⁾During fiscal 2017, there was less than 0.1 million shares of PRSU activity due to changes in performance conditions and shares vested, individually and in the aggregate.

At July 1, 2017, $9.8 million of total unrecognized compensation cost related to non-vested share awards is expected to be recognized over a weighted-average period of 0.9 years.

The weighted-average grant-date fair value of share awards granted during fiscal 2017, fiscal 2016 and fiscal 2015 was $39.61, $31.67 and $36.43, respectively. The total fair value of awards that vested during fiscal 2017, fiscal 2016 and fiscal 2015 was $0.9 million, $1.4 million and $2.5 million, respectively.

During the fiscal years ended July 1, 2017 and July 2, 2016, the Company granted 0.3 million shares (with a fair value of $10.0 million) and 0.4 million shares (with a fair value of $11.6 million) of common stock to executives, respectively. The shares are subject to a three-year cliff vesting, subject to 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.

Included in the non-vested amount at July 1, 2017 are approximately 0.6 million of PRSU awards that are based on performance criteria which compares the Company’s total stockholder return over the performance period to the total stockholder return of the companies included in the Standard & Poor’s 500 Index on the date of grant (excluding the Company). The remaining 0.9 million PRSU awards included in the non-vested amount are based on certain Company-specific financial and operational metrics.

In fiscal 2017, fiscal 2016 and fiscal 2015, the cash tax benefit realized for the tax deductions from all RSUs (service and performance-based) was $19.0 million, $14.2 million and $15.7 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, 0.1 million, and 0.1 million shares to employees in fiscal 2017, fiscal 2016 and fiscal 2015, 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 1, 2017		July 2, 2016		June 27, 2015
Expected term (years)	0.5		0.5		0.5
Expected volatility	24.7	%	28.6	%	26.4	%
Risk-free interest rate	0.6	%	0.3	%	0.1	%
Dividend yield	3.6	%	4.1	%	3.5	%

The weighted-average fair value of the purchase rights granted during fiscal 2017, fiscal 2016 and fiscal 2015 was $8.08, $7.43, and $8.41, respectively. The Company issues new shares for employee stock purchases.

Investments

12 Months Ended

Jul. 01, 2017

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 1, 2017 and July 2, 2016:



	July 1, 2017						July 2, 2016
	Short-term		Long-Term		Total		Short-term		Long-term		Total
	(millions)
Available-for-sale investments:
Commercial paper⁽¹⁾	$	68.8	$	—	$	68.8	$	54.8	$	—	$	54.8
Government securities – U.S.⁽²⁾	130.4		—		130.4		131.7		—		131.7
Corporate debt securities – U.S.⁽²⁾	116.2		46.9		163.1		161.4		64.2		225.6
Corporate debt securities – non-U.S.⁽²⁾	92.6		28.2		120.8		111.5		33.9		145.4
Available-for-sale investments, total	$	408.0	$	75.1	$	483.1	$	459.4	$	98.1	$	557.5
Other:
Time deposits⁽¹⁾	0.6		—		0.6		0.6		—		0.6
Other⁽³⁾	2.1		—		2.1		0.4		460.5		460.9
Total Investments	$	410.7	$	75.1	$	485.8	$	460.4	$	558.6	$	1,019.0


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


⁽²⁾	The securities as of July 1, 2017 have maturity dates between calendar years 2017 and 2019 and are recorded at fair value.


⁽³⁾	Long-Term Other as of July 2, 2016 relates to the equity method investment in Hudson Yards, related to an equity interest in an entity formed during fiscal 2013 for the purpose of developing a new office tower in Manhattan (the “Hudson Yards joint venture”), with the Company owning less than 43% of the joint venture. Refer to Note 19, "Headquarters Transactions," for further information.

There were no material gross unrealized gains or losses on available-for-sale securities as of the periods ended July 1, 2017 and July 2, 2016.

Acquisitions

12 Months Ended

Jul. 01, 2017

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

Kate Spade & Company Acquisition

On July 11, 2017, the Company completed its acquisition of Kate Spade & Company for $18.50 per share in cash for a total of $2.4 billion. As a result, Kate Spade has become a wholly owned subsidiary. Due to the limited time since the date of the acquisition, it is impracticable for the Company to make certain business combination disclosures at this time as the Company is still gathering information necessary to provide those disclosures. The Company plans to provide this information in its quarterly report on Form 10-Q for the quarter ending September 30, 2017. In conjunction with this acquisition, the Company incurred $16.9 million in pre-tax expenses in fiscal 2017. See Note 20, "Subsequent Events" herein for further discussion on the Kate Spade acquisition.

Fiscal 2016 Acquisition

On May 1, 2016, the Company acquired all of the outstanding equity interests of Franco Niro Holdings Inc./Les Placements Franco Niro Inc., the Stuart Weitzman Canadian retail distributor ("Stuart Weitzman Canada"), consisting of 14 retail stores and one e-commerce website. The results of the Stuart Weitzman Canada operations have been included in the consolidated financial statements since the date of acquisition within the Stuart Weitzman segment. The aggregate cash paid in connection with the acquisition of Stuart Weitzman Canada was $25.6 million, net of a 10% purchase price hold-back amount to be paid 18 months following the closing date if all conditions are satisfied.

The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date:



Assets Acquired and Liabilities Assumed	Fair Value
	(millions)
Inventories and other current assets⁽¹⁾	$	5.3
Property and equipment, net	3.2
Goodwill⁽²⁾	24.6
Total assets acquired	33.1
Accounts Payable and accrued liabilities	4.8
Other liabilities⁽³⁾	2.7
Total liabilities assumed	7.5
Total cash paid	$	25.6

⁽¹⁾ The balance primarily consists of inventories of $5.0 million, including a step-up adjustment of approximately $0.9 million, which was amortized over 6 months.

⁽²⁾ The entire balance of acquired goodwill is not tax deductible.

⁽³⁾ Included within Other liabilities is a $2.6 million liability attributable to the 10% purchase price hold-back amount.

There were no material pre-tax acquisition costs directly associated with the acquisition of Stuart Weitzman Canada.

Leases

12 Months Ended

Jul. 01, 2017

Leases [Abstract]

Leases

LEASES

The Company leases retail, distribution and office facilities. The lease agreements, which expire at various dates through 2036, are subject, in most cases, to renewal options and provide for the payment of taxes, insurance and maintenance. Certain leases contain escalation clauses resulting from the pass-through of increases in operating costs, property taxes and the effect on costs from changes in consumer price indices. Certain store-related rent expense is also contingent upon sales.

Rent expense for the Company's operating leases consisted of the following:



	Fiscal Year Ended
	July 1, 2017		July 2, 2016		June 27, 2015
	(millions)
Minimum rent⁽¹⁾	$	295.1	$	229.9	$	213.8
Contingent rent	129.4		134.8		142.8
Total rent expense	$	424.5	$	364.7	$	356.6


⁽¹⁾	$0.2 million and $5.9 million of lease termination charges due to restructuring-related closures were included in fiscal 2017 and fiscal 2016, respectively.

Future minimum rental payments under non-cancelable operating leases, as of July 1, 2017, are as follows:



Fiscal Year	Amount
	(millions)
2018	$	295.4
2019	270.1
2020	242.3
2021	205.9
2022	194.1
Subsequent to 2022	1,250.9
Total minimum future rental payments	$	2,458.7

During the first quarter of fiscal 2017, the Company announced the lease of its new global headquarters. Refer to Note 19, "Headquarters Transactions," for further information.

Fair Value Measurements

12 Months Ended

Jul. 01, 2017

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 following table shows the fair value measurements of the Company’s financial assets and liabilities at July 1, 2017 and July 2, 2016:



	Level 1				Level 2				Level 3
	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
	(millions)
Assets:
Cash equivalents⁽¹⁾	$	760.0	$	197.9	$	226.0	$	0.4	$	—	$	—
Short-term investments:
Time deposits⁽²⁾	—		—		0.6		0.6		—		—
Commercial paper⁽²⁾	—		—		68.8		54.8		—		—
Government securities - U.S.⁽²⁾	130.4		119.9		—		11.8		—		—
Corporate debt securities - U.S.⁽²⁾	—		—		116.2		161.4		—		—
Corporate debt securities - non U.S.⁽²⁾	—		—		92.6		111.5		—		—
Other	—		—		2.1		0.4		—		—
Long-term investments:
Corporate debt securities - U.S.⁽³⁾	—		—		46.9		64.2		—		—
Corporate debt securities - non U.S.⁽³⁾	—		—		28.2		33.9		—		—
Derivative Assets:
Inventory-related instruments⁽⁴⁾	—		—		3.5		0.2		—		—
Intercompany loan hedges⁽⁴⁾	—		—		—		0.4		—		—
Liabilities:
Contingent earnout obligation⁽⁵⁾	$	—	$	—	$	—	$	—	$	—	$	28.4
Derivative liabilities:
Inventory-related instruments⁽⁴⁾	—		—		1.0		11.0		—		—
Intercompany loan hedges⁽⁴⁾	—		—		0.7		0.1		—		—


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


⁽²⁾	Short-term available-for-sale 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⁾	Fair value is primarily determined using vendor or broker priced securities in active markets. These securities have maturity dates between calendar years 2018 and 2019.


⁽⁴⁾	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.

⁽⁵⁾

As part of the purchase agreement for the Stuart Weitzman acquisition, the Company would be required to pay a potential earnout of $44.1 million if the Stuart Weitzman brand achieves certain revenue targets. As the Company does not expect to achieve these revenue targets, the Company recorded a reversal of an accrual of $35.2 million in SG&A, during the fourth quarter of fiscal 2017, as the payout is not expected.

Refer to Note 10, "Debt," for the fair value of the Company's outstanding debt instruments.

The following table presents a reconciliation of the liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended July 1, 2017 and July 2, 2016. Level 3 liabilities consisted of the contingent earnout obligation related to the Stuart Weitzman acquisition.



	July 1,			July 2,
	2017			2016
	(millions)
Beginning of year	$	28.4		$	19.4
Increase to contingent earnout obligation	6.8			9.0
Reversal of contingent earnout obligation	(35.2		)	—
End of year	$	—		$	28.4

Non-Financial Assets and Liabilities

The Company’s non-financial instruments, which primarily consist of goodwill, intangible assets and property and equipment, are not required to be measured at fair value on a recurring basis and are reported at carrying value. However, on a periodic basis whenever events or changes in circumstances indicate that their carrying value may not be fully recoverable (and at least annually for goodwill and indefinite-lived intangible assets), non-financial instruments are assessed for impairment and, if applicable, written-down to and recorded at fair value, considering market participant assumptions. Refer to Note 7, "Acquisitions," for further discussion of the approaches used in valuing acquired assets and assumed liabilities.

The Company recorded $14.2 million of impairment charges in fiscal 2017 to reduce the carrying amount of certain store assets (primarily leasehold improvements at selected retail store locations) to their fair values of $3.1 million as of July 1, 2017. No material impairment charges were recorded in fiscal 2016 and fiscal 2015. The fair values of these assets were determined based on Level 3 measurements. Inputs to these fair value measurements included estimates of the amount and the timing of the stores' net future discounted cash flows based on historical experience, current trends, and market conditions.

- 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. 01, 2017

Debt Disclosure [Abstract]

Debt

DEBT

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



	July 1, 2017			July 2, 2016
	(millions)
Current Debt:
Term Loan⁽¹⁾	$	—		$	15.0
Total Current Debt	$	—		$	15.0

Long-Term Debt:
Term Loan⁽¹⁾	$	—		$	270.0
4.250% Senior Notes due 2025	600.0			600.0
3.000% Senior Notes due 2022	400.0			—
4.125% Senior Notes due 2027	600.0			—
Total Long-Term Debt	1,600.0			870.0
Less: Unamortized Discount and Debt Issuance Costs on Senior Notes	(20.5		)	(8.8		)
Total Long-Term Debt, net	$	1,579.5		$	861.2


⁽¹⁾	See Note 20, "Subsequent Events" herein for further discussion.

During fiscal 2017, 2016 and 2015 the Company recognized interest expense related to the outstanding debt of $26.8 million, $32.9 million and $11.9 million, respectively.

Bridge Facility

On May 7, 2017 Company entered into a bridge facility commitment letter (the "Bridge Facility") pursuant to which Merrill Lynch, Pierce, Fenner & Smith Incorporated and Bank of America, N.A. (together, "BofA Merrill Lynch") committed to provide up to $2.1 billion under a 364-day senior unsecured bridge term loan credit facility to finance the Kate Spade acquisition in the event that the Company had not issued senior unsecured notes and obtained term loans prior to the consummation of the acquisition. As consideration for the Bridge Facility, the Company paid a structuring fee of 0.225% and commitment fee of 0.225% on the aggregate commitment, for which the Company recorded approximately $9.5 million to interest expense in fiscal 2017. In connection with the issuance of the 2022 Senior Notes and 2027 Senior Notes, as described below, the Bridge Facility was reduced by $1.0 billion, in accordance with the commitment letter. As of July 1, 2017 there were no outstanding borrowings on the Bridge Facility, as the Company secured the senior notes and credit facilities as described below. In connection with the closing of the Kate Spade acquisition on July 11, 2017, the remainder of the Bridge Facility terminated in accordance with its terms. Refer to Note 20, "Subsequent Events," for further information.

Credit Facilities/Term Loans

On May 30, 2017, 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 (i) committed to lend to the Company, subject to the satisfaction or waiver of the conditions set forth in the agreement, an $800.0 million term loan facility maturing six months after the term loans thereunder are borrowed (the “Six-Month Term Loan Facility”), and a $300.0 million term loan facility maturing three years after the term loans thereunder are borrowed (collectively with the Six-Month Term Loan Facility, the “Term Loan Facilities”) and (ii) made available to the Company a $900.0 million revolving credit facility, including sub-facilities for letters of credit, with a maturity date of May 30, 2022 (the “Revolving Credit Facility”, collectively with the Term Loan Facilities, "the Facility"). The Revolving Credit Facility replaced the Company’s previously existing revolving credit facility under the Amendment and Restatement Agreement, dated as of March 18, 2015, by and between the Company, certain lenders and JPMorgan Chase Bank, N.A., as administrative agent. The Revolving Credit Facility may be used to finance the working capital needs, capital expenditures, permitted investments, share purchases, dividends and other general corporate purposes of the Company and its subsidiaries (which may include commercial paper back-up). Letters of credit and swing line loans may be issued under the Revolving Credit Facility as described below. There were no outstanding borrowings on either the Term Loan Facilities or the Revolving Credit Facility as of July 1, 2017.

Borrowings under the Revolving Credit Facility bear interest at a rate per annum equal to, at the Borrowers’ option, either (a) an alternate base rate (which is a rate equal to the greatest of (i) the Prime Rate in effect on such day, (ii) the Federal Funds Effective Rate in effect on such day plus ½ of 1% or (iii) the Adjusted LIBO Rate for a one month Interest Period on such day plus 1%) or (b) a rate based on the rates applicable for deposits in the interbank market for U.S. Dollars or the applicable currency in which the loans are made plus, in each case, an applicable margin. The applicable margin will be determined by reference to a grid, as defined in the Credit Agreement, based on the ratio of (a) consolidated debt plus 600% of consolidated lease expense to (b) consolidated EBITDAR. Additionally, the Company pays a commitment fee at a rate determined by the reference to the aforementioned pricing grid.

Subsequent to the end of the fiscal year, the Company borrowed $1.1 billion on the Term Loan Facilities to pay a portion of the purchase price of the Company's announced acquisition of Kate Spade. Refer to Note 20, "Subsequent Events," for further information.

2025 Senior Notes

In March 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.

2022 Senior Notes

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

2027 Senior Notes

On June 20, 2017, the Company issued $600.0 million aggregate principal amount of 4.125% senior unsecured notes due April 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.

At July 1, 2017, the fair value of the 2025, 2022 and 2027 Senior Notes was approximately $624 million, $395 million, and $596 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 2, 2016, the fair value of the 2025 Senior Notes was approximately $622 million.

Debt Maturities

As of July 1, 2017, the Company's aggregate debt is $1.6 billion, of which $400.0 million is due in 2022 and $1.2 billion is due subsequent to 2022.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Jul. 01, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Letters of Credit The Company had standby letters of credit and bank guarantees totaling $9.0 million and $7.5 million outstanding at both July 1, 2017 and July 2, 2016. The letters of credit, which expire at various dates through calendar 2039 primarily collateralize the Company’s obligation to third parties for insurance claims, leases and materials used in product manufacturing. The Company pays certain fees with respect to letters of credit that are issued. Other The Company had other contractual cash obligations as of July 1, 2017, including $167.5 million related to inventory purchase obligations, $78.0 million related to capital expenditure purchase obligations, $6.0 million of other purchase obligations, of $1.6 billion of debt repayments and $514.0 million of interest payments on the 2022 Senior Notes, 2025 Senior Notes and 2027 Senior Notes. Refer to Note 8, "Leases," for a summary of the Company's future minimum rental payments under non-cancelable leases. In the ordinary course of business, the Company is a party to several pending legal proceedings and claims. Although the outcome of such items cannot be determined with certainty, the Company's management believes that the final outcome will not have a material effect on the Company's cash flow, results of operations or financial position. Kate Spade & Company Acquisition On May 7, 2017, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Kate Spade & Company and Chelsea Merger Sub Inc., a Delaware corporation and direct wholly owned subsidiary of Tapestry, Inc. (the "Merger Sub"). Pursuant to the Merger Agreement, on May 26, 2017, Merger Sub commenced an all-cash tender offer to acquire all of Kate Spade's outstanding shares of common stock, par value of $1.00 per share, at a purchase price of $18.50. The Company completed its acquisition on July 11, 2017. The purchase price was approximately $2.4 billion, which was funded by a combination of Senior Notes, Term Loan Facilities and cash on hand. Refer to Note 10, "Debt," for more information on the Term Loan Facilities and Senior Notes. The Company currently estimates that it will incur costs in the range of $150 - $200 million related to Kate Spade integration in fiscal 2018, which include severance, store closure costs and inventory realignment. The Company continues to fully develop its integration plan. Of these costs, the Company expects to incur approximately $60 million of severance and other costs related to agreements with certain Kate Spade executives. The Company also expects to incur costs of approximately $45 million of acquisition-related expenses.

Goodwill and Other Intangible Assets

12 Months Ended

Jul. 01, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

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



	Coach			Stuart Weitzman			Total
	(millions)
Balance at June 27, 2015	$	308.4		$	125.8		$	434.2
Acquisition of Stuart Weitzman Canada	—			24.6			24.6
Foreign exchange impact	38.5			(0.1		)	38.4
Purchase accounting adjustment⁽¹⁾	—			5.2			5.2
Balance at July 2, 2016	346.9			155.5			502.4
Foreign exchange impact	(22.4		)	—			(22.4		)
Purchase accounting adjustment⁽¹⁾	—			0.5			0.5
Balance at July 1, 2017	$	324.5		$	156.0		$	480.5


⁽¹⁾	Refer to Note 7, "Acquisitions," for further information.

Intangible Assets

Intangible assets consist of the following:



	Fiscal Year Ended⁽¹⁾
	July 1, 2017							July 2, 2016
	Gross Carrying Amount		Accum. Amort.			Net		Gross Carrying Amount		Accum. Amort.			Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	54.7	$	(9.7	)	$	45.0	$	54.7	$	(5.8	)	$	48.9
Favorable lease rights, net	26.1		(7.1		)	19.0		24.7		(3.6		)	21.1
Total intangible assets subject to amortization	80.8		(16.8		)	64.0		79.4		(9.4		)	70.0
Intangible assets not subject to amortization:
Trademarks and trade names	276.8		—			276.8		276.8		—			276.8
Total intangible assets	$	357.6	$	(16.8	)	$	340.8	$	356.2	$	(9.4	)	$	346.8


⁽¹⁾	Refer to Note 7, "Acquisitions," for further information.

As of July 1, 2017, the expected amortization expense for intangible assets is as follows:



	Amortization Expense
	(millions)
Fiscal 2018	$	6.8
Fiscal 2019	6.7
Fiscal 2020	6.5
Fiscal 2021	6.1
Fiscal 2022	5.5
Thereafter	32.4
Total	$	64.0

The expected future amortization expense above reflects remaining useful lives of 12.8 years for customer relationships and the remaining lease terms ranging from approximately six months to 8.3 years for favorable lease rights.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Income Taxes

12 Months Ended

Jul. 01, 2017

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 1, 2017					July 2, 2016					June 27, 2015
	Amount			Percentage		Amount			Percentage		Amount			Percentage
	(millions)
Income before provision for income taxes:
United States	$	365.5		48.2	%	$	357.5		57.1	%	$	361.2		59.1	%
Foreign	393.5			51.8		269.1			42.9		250.4			40.9
Total income before provision for income taxes	$	759.0		100.0	%	$	626.6		100.0	%	$	611.6		100.0	%

Tax expense at U.S. statutory rate	$	265.7		35.0	%	$	219.3		35.0	%	$	214.0		35.0	%
State taxes, net of federal benefit	15.1			2.0		11.2			1.8		26.4			4.3
Effects of foreign operations	(86.7		)	(11.4	)	(53.7		)	(8.6	)	(79.7		)	(13.0	)
Effects of foreign tax credits and acquisition reorganization	(12.3		)	(1.6	)	(19.6		)	(3.1	)	9.3			1.5
Other, net	(13.8		)	(1.9	)	8.9			1.4		39.2			6.4
Taxes at effective worldwide rates	$	168.0		22.1	%	$	166.1		26.5	%	$	209.2		34.2	%

Current and deferred tax provision (benefit) was:



	Fiscal Year Ended
	July 1, 2017				July 2, 2016					June 27, 2015
	Current		Deferred		Current		Deferred			Current		Deferred
	(millions)
Federal	$	42.9	$	56.4	$	145.8	$	(52.0	)	$	142.9	$	10.5
Foreign	39.7		7.4		46.8		2.2			9.8		13.8
State	7.4		14.2		25.8		(2.5		)	35.0		(2.8		)
Total current and deferred tax provision (benefit)	$	90.0	$	78.0	$	218.4	$	(52.3	)	$	187.7	$	21.5

The components of deferred tax assets and liabilities were:



	July 1, 2017			July 2, 2016
	(millions)
Share-based compensation	$	64.8		$	68.5
Reserves not deductible until paid	39.2			54.1
Deferred rent	22.7			27.9
Employee benefits	40.9			48.3
Basis difference in foreign investments	1.1			21.5
Net operating loss	199.2			176.7
Other	10.4			4.2
Prepaid expenses	0.6			0.8
Property and equipment	—			34.3
Inventory	21.6			15.5
Gross deferred tax assets	400.5			451.8
Valuation allowance	196.1			173.4
Deferred tax assets after valuation allowance	$	204.4		$	278.4

Goodwill	82.6			88.2
Property and equipment	8.4			—
Other	6.2			(1.3		)
Gross deferred tax liabilities	97.2			86.9
Net deferred tax assets	$	107.2		$	191.5

Consolidated Balance Sheets Classification
Deferred income taxes – noncurrent asset	170.5			248.8
Deferred income taxes – noncurrent liability (included within "Other Liabilities")	(63.3		)	(57.3		)
Net deferred tax asset	$	107.2		$	191.5

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 1, 2017			July 2, 2016			June 27, 2015
	(millions)
Balance at beginning of fiscal year	$	138.6		$	168.1		$	170.7
Gross increase due to tax positions related to prior periods	2.7			25.5			5.4
Gross decrease due to tax positions related to prior periods	(2.7		)	(4.4		)	(1.1		)
Gross increase due to tax positions related to current period	8.1			8.7			16.5
Decrease due to lapse of statutes of limitations	(39.5		)	(59.0		)	(21.1		)
Decrease due to settlements with taxing authorities	(13.1		)	(0.3		)	(2.3		)
Balance at end of fiscal year	$	94.1		$	138.6		$	168.1

Of the $94.1 million ending gross unrecognized tax benefit balance as of July 1, 2017, $83.6 million relates to items which, if recognized, would impact the effective tax rate. Of the $138.6 million ending gross unrecognized tax benefit balance as of July 2, 2016, $111.1 million relates to items which, if recognized, would impact the effective tax rate. As of July 1, 2017 and July 2, 2016, gross interest and penalties payable was $24.1 million and $29.0 million, respectively, which are included in Other liabilities. During fiscal 2017, fiscal 2016 and fiscal 2015, the Company recognized gross interest and penalty income of $2.8 million, gross interest and penalty expense of $11.5 million and gross interest and penalty income of $0.1 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 2014 to present are open to examination in the U.S. federal jurisdiction, fiscal 2009 to present in select state jurisdictions and fiscal 2004 to present in select foreign jurisdictions. 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, we cannot reasonably estimate the impact these audits may have in the next 12 months, if any, to previously recorded uncertain tax positions. We accrue for certain known and reasonably anticipated income tax obligations after assessing the likely outcome based on the weight of available evidence. Although we believe that the estimates and assumptions we have 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, we believe we have made adequate provision for all income tax uncertainties.

For the years ended July 1, 2017 and July 2, 2016, the Company had net operating loss carryforwards in foreign tax jurisdictions of $715.3 million and $593.4 million, the majority of which can be carried forward indefinitely. The deferred tax assets related to the carryforwards have been reflected net of $196.1 million and $173.4 million valuation allowances at July 1, 2017 and July 2, 2016, respectively. The Company's valuation allowance increased by $22.7 million in fiscal 2017 and increased by $3.6 million in fiscal 2016, primarily as a result of actual or anticipated results in foreign jurisdictions.

The total amount of undistributed earnings of foreign subsidiaries as of July 1, 2017 and July 2, 2016, was $2.91 billion and $2.39 billion, respectively. It is the Company’s intention to permanently reinvest undistributed earnings of its foreign subsidiaries and thereby indefinitely postpone their remittance. Accordingly, no provision has been made for foreign withholding taxes or United States income taxes which may become payable if undistributed earnings of foreign subsidiaries are paid as dividends. Determination of the amount of unrecognized deferred income tax liabilities on these earnings is not practicable because such liability, if any, is subject to many variables and is dependent on circumstances existing if and when remittance occurs.

Defined Contribution Plan	12 Months Ended
Defined Contribution Plan	Jul. 01, 2017
Retirement Benefits [Abstract]
Defined Contribution Plan	DEFINED CONTRIBUTION PLAN The 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 $9.1 million, $8.3 million, and $7.2 million in fiscal 2017, fiscal 2016 and fiscal 2015, respectively.

Segment Information

12 Months Ended

Jul. 01, 2017

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company has the following reportable segments:


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


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

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. Corporate expenses primarily include administration and information systems expense. Additionally, costs incurred by the Company as described in Note 3, "Restructuring Activities," and certain acquisition-related costs are included as Corporate expenses.

The following table summarizes segment performance for fiscal 2017, fiscal 2016 and fiscal 2015:



	Coach		Stuart Weitzman		Corporate⁽¹⁾			Total
	(millions)
Fiscal 2017
Net sales	$	4,114.7	$	373.6	$	—		$	4,488.3
Gross profit	2,855.0		226.1		—			3,081.1
Operating income (loss)	1,040.0		15.5		(268.1		)	787.4
Income (loss) before provision for income taxes	1,040.0		15.5		(296.5		)	759.0
Depreciation and amortization expense⁽²⁾	149.9		18.9		50.1			218.9
Total assets	1,937.1		628.4		3,266.1			5,831.6
Additions to long-lived assets⁽³⁾	170.5		20.2		92.4			283.1



	Coach		Stuart Weitzman		Corporate⁽¹⁾			Total
	(millions)
Fiscal 2016
Net sales	$	4,147.1	$	344.7	$	—		$	4,491.8
Gross profit	2,848.9		202.4		—			3,051.3
Operating income (loss)	1,024.4		32.5		(403.4		)	653.5
Income (loss) before provision for income taxes	1,024.4		32.5		(430.3		)	626.6
Depreciation and amortization expense⁽²⁾	132.6		19.6		66.9			219.1
Total assets	1,975.5		631.2		2,286.0			4,892.7
Additions to long-lived assets⁽³⁾	210.2		11.5		174.7			396.4



	Coach		Stuart Weitzman			Corporate⁽¹⁾			Total
	(millions)
Fiscal 2015
Net sales	$	4,148.6	$	43.0		$	—		$	4,191.6
Gross profit	2,888.7		19.9			—			2,908.6
Operating income (loss)	965.6		(4.6		)	(343.0		)	618.0
Income (loss) before provision for income taxes	965.6		(4.6		)	(349.4		)	611.6
Depreciation and amortization expense⁽²⁾	123.0		5.2			112.4			240.6
Total assets	1,809.2		602.6			2,255.1			4,666.9
Additions to long-lived assets⁽³⁾	170.5		1.5			27.3			199.3

⁽¹⁾ Corporate, which is not a reportable segment represents certain costs that are not directly attributable to a brand. These costs primarily represent administration and information systems expense. Furthermore, certain integration and acquisition costs as well as costs under the Company's Operational Efficiency Plan and Transformation Plan as described in Note 3, "Restructuring Activities," are included as Corporate expenses.

⁽²⁾

Depreciation and amortization expense includes $6.1 million of Operational Efficiency Plan charges for the fiscal year ended July 1, 2017. Depreciation and amortization expense includes $8.5 million of Operational Efficiency Plan and Transformation Plan charges for the fiscal year ended July 2, 2016. Depreciation and amortization expense includes $48.8 million of transformation-related charges for the fiscal year ended June 27, 2015. These charges are recorded as Corporate expenses. Depreciation and amortization expense for the segments includes an allocation of expense related to assets which support multiple segments.


⁽³⁾	Additions to long-lived assets for the reportable segments primarily includes store assets as well as assets that support a specific brand. Corporate additions include all other assets which 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 1, 2017		% of Total		July 2, 2016		% of Total		June 27, 2015		% of Total
	(millions)
Women's Handbags	$	2,308.0	52	%	$	2,392.9	53	%	$	2,389.6	57	%
Men's	808.0		18		725.7		16		680.4		16
Women's Accessories	721.0		16		721.6		16		709.4		17
Women's Other Products	277.7		6		306.9		7		369.2		9
Total Coach	$	4,114.7	92	%	$	4,147.1	92	%	$	4,148.6	99	%
Stuart Weitzman brand⁽¹⁾	373.6		8		344.7		8		43.0		1
Total Sales	$	4,488.3	100	%	$	4,491.8	100	%	$	4,191.6	100	%


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

Geographic Area Information

As of July 1, 2017, the Company operated 247 retail stores and 192 outlet stores in the United States, 40 retail stores and 9 outlet stores in Canada. Outside of North America, the Company operated 184 concession shop-in-shops within department stores, retail stores and outlet stores in Japan, 199 in Greater China (including Hong Kong, Macau and mainland China), and 172 in other international locations. 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 and other assets.



	United States		Japan		Greater China⁽²⁾		Other⁽³⁾		Total
	(millions)
Fiscal 2017
Net sales⁽¹⁾	$	2,432.5	$	572.8	$	643.9	$	839.1	$	4,488.3
Long-lived assets	497.7		58.3		93.2		162.2		811.4
Fiscal 2016
Net sales⁽¹⁾	$	2,477.3	$	559.8	$	652.2	$	802.5	$	4,491.8
Long-lived assets	750.3		74.8		96.6		141.5		1,063.2
Fiscal 2015
Net sales⁽¹⁾	$	2,372.8	$	545.6	$	635.8	$	637.4	$	4,191.6
Long-lived assets	559.5		55.4		91.2		138.4		844.5


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


⁽²⁾	Greater China includes mainland China, Hong Kong and Macau.


⁽³⁾	Other international sales reflect shipments to third-party distributors, primarily in East Asia, and sales from Company-operated stores and concession shop-in-shops in Canada, Europe, Taiwan, South Korea, Malaysia and Singapore.

Earnings Per Share

12 Months Ended

Jul. 01, 2017

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 1, 2017		July 2, 2016		June 27, 2015
	(millions, except per share data)
Net income	$	591.0	$	460.5	$	402.4

Weighted-average basic shares	280.6		277.6		275.7
Effect of dilutive securities	2.2		1.7		1.5
Weighted-average diluted shares	282.8		279.3		277.2

Net income per share:
Basic	$	2.11	$	1.66	$	1.46
Diluted	$	2.09	$	1.65	$	1.45

At July 1, 2017, options to purchase 4.5 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 $45.13 to $78.46, were greater than the average market price of the common shares.

At July 2, 2016, options to purchase 5.1 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 $39.42 to $78.46, were greater than the average market price of the common shares.

At June 27, 2015, options to purchase 5.9 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 $38.75 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 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 1, 2017, July 2, 2016 and June 27, 2015, there were approximately 5.6 million, 5.9 million, and 6.8 million, respectively, of additional shares issuable upon exercise of anti-dilutive options and contingent vesting of performance-based restricted stock unit awards, which were excluded from the diluted share calculations.

Related Parties	12 Months Ended
Related Parties	Jul. 01, 2017
Related Party Transactions [Abstract]
Related Parties	RELATED PARTIES The Stuart Weitzman brand owns approximately 50% of a factory and one of its former employees maintains a partial ownership interest of less than 50% in a factory, both of which are located in Spain, which are involved in the production of Stuart Weitzman inventory. Payments to these two factories represented $27.6 million and $39.2 million in fiscal 2017 and fiscal 2016, respectively. Amounts payable to these factories were not material at July 1, 2017 or July 2, 2016.

Supplemental Balance Sheet Information

12 Months Ended

Jul. 01, 2017

Disclosure Text Block Supplement [Abstract]

Supplemental Balance Sheet Information

SUPPLEMENTAL BALANCE SHEET INFORMATION

The components of certain balance sheet accounts are as follows:



	July 1, 2017			July 2, 2016
	(millions)
Property and equipment
Land and building	$	13.7		$	168.5
Machinery and equipment	34.4			34.5
Furniture and fixtures	640.0			653.2
Leasehold improvements	729.7			898.7
Construction in progress	71.7			26.4
Less: accumulated depreciation	(798.1		)	(861.8		)
Total property and equipment, net	$	691.4		$	919.5
Accrued liabilities
Payroll and employee benefits	$	152.7		$	180.5
Accrued rent	45.5			45.2
Dividends payable	95.1			93.9
Operating expenses	265.9			305.4
Total accrued liabilities	$	559.2		$	625.0
Other liabilities
Deferred lease obligation	$	204.2		$	172.9
Gross unrecognized tax benefit	94.1			138.6
Deferred tax liabilities	63.3			57.3
Other	134.8			153.1
Total other liabilities	$	496.4		$	521.9

Headquarters Transactions	12 Months Ended
Headquarters Transactions	Jul. 01, 2017
Leases [Abstract]
Headquarters Transactions	HEADQUARTERS TRANSACTIONS Sale of Interest and Lease Transaction of Hudson Yards During the first quarter of fiscal 2017, the Company sold its investments in 10 Hudson Yards, in New York City, and announced the lease of its new global headquarters. The Company sold its equity investment in the Hudson Yards joint venture as well as net fixed assets related to the design and build-out of the space. The Company received a purchase price of approximately $707 million (net of approximately $77 million due to the developer of Hudson Yards) before transaction costs of approximately $26 million, resulting in a gain of $28.8 million, which will be amortized through SG&A expenses over the lease term of 20 years, as discussed below. The Company has simultaneously entered into a 20-year lease, accounted for as an operating lease, for the headquarters space in the building, comprised of approximately 694,000 square feet. Under the lease, the Company has the right to expand its premises to portions of the 24^th and 25^th floors of the building and has a right of first offer with respect to available space on the 26^th floor of the building. The total commitment related to this lease was approximately $1.05 billion. Minimum lease payments of $45.1 million are due each year from fiscal 2018 through fiscal 2021, and $825.5 million total due for years subsequent to 2021. In addition to its fixed rent obligations, the Company is obligated to pay its percentage share for customary escalations for operating expenses attributable to the building and the Hudson Yards development, taxes and tax related payments. The Company is not obligated to pay any amount of contingent rent. Sale of Former Headquarters During the second quarter of fiscal 2017, the Company completed the sale of its former headquarters on West 34th Street. Net cash proceeds of $126.0 million were generated and the sale did not result in a material gain or loss.

Subsequent Events	12 Months Ended
Subsequent Events	Jul. 01, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Kate Spade Acquisition On July 11, 2017, the Company completed its acquisition of Kate Spade & Company for $18.50 per share in cash for a total of $2.4 billion. As a result, Kate Spade has become a wholly owned subsidiary of Tapestry, Inc. The combination of Tapestry, Inc. and Kate Spade & Company creates a leading New York-based luxury lifestyle company with a more diverse multi-brand portfolio supported by significant expertise in handbag design, merchandising, supply chain and retail operations as well as solid financial acumen. Refer to Note 11, "Commitments and Contingencies," for more information. Term Loan Borrowings and Bridge Credit Facility On July 10, 2017, the Company borrowed $800.0 million under the six-month term loan credit facility and $300.0 million under the three-year term loan credit facility, for a total of $1.1 billion. In connection with the closing of the Kate Spade acquisition on July 11, 2017, the remaining Bridge Facility terminated in accordance with its terms. Refer to Note, 10, "Debt," for more information.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Jul. 01, 2017

Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Schedule II — Valuation and Qualifying Accounts

For the Fiscal Years Ended July 1, 2017, July 2, 2016 and June 27, 2015



	Balance at Beginning of Year		Additions Charged to Costs and Expenses		Additions Related to Acquisition		Write-offs/ Allowances Taken			Balance at End of Year
	(millions)
Fiscal 2017
Allowance for bad debts	$	2.2	$	1.7	$	—	$	(2.0	)	$	1.9
Allowance for returns	6.0		10.3		—		(11.9		)	4.4
Allowance for markdowns	15.2		36.9		—		(42.7		)	9.4
Valuation allowance	173.4		22.7		—		—			196.1
Total	$	196.8	$	71.6	$	—	$	(56.6	)	$	211.8
Fiscal 2016
Allowance for bad debts	$	3.1	$	3.7	$	—	$	(4.6	)	$	2.2
Allowance for returns	7.5		11.5		—		(13.0		)	6.0
Allowance for markdowns	18.0		54.1		—		(56.9		)	15.2
Valuation allowance	169.8		3.6		—		—			173.4
Total	$	198.4	$	72.9	$	—	$	(74.5	)	$	196.8
Fiscal 2015
Allowance for bad debts	$	1.4	$	1.7	$	0.9	$	(0.9	)	$	3.1
Allowance for returns	2.9		8.9		0.7		(5.0		)	7.5
Allowance for markdowns	11.6		42.5		3.8		(39.9		)	18.0
Valuation allowance	131.8		38.0		—		—			169.8
Total	$	147.7	$	91.1	$	5.4	$	(45.8	)	$	198.4

Quarterly Financial Data

12 Months Ended

Jul. 01, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data

(unaudited)



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(millions, except per share data)
Fiscal 2017⁽¹⁾
Net sales	$	1,037.6	$	1,321.7	$	995.2	$	1,133.8
Gross profit	714.7		906.2		705.7		754.5
Net income	117.4		199.7		122.2		151.7
Net income per common share:
Basic	$	0.42	$	0.71	$	0.44	$	0.54
Diluted	$	0.42	$	0.71	$	0.43	$	0.53
Fiscal 2016⁽¹⁾⁽²⁾
Net sales	$	1,030.3	$	1,273.8	$	1,033.1	$	1,154.6
Gross profit	696.5		859.1		713.0		782.7
Net income	96.4		170.1		112.5		81.5
Net income per common share:
Basic	$	0.35	$	0.61	$	0.40	$	0.29
Diluted	$	0.35	$	0.61	$	0.40	$	0.29
Fiscal 2015⁽¹⁾
Net sales	$	1,038.8	$	1,219.4	$	929.3	$	1,004.1
Gross profit	715.4		840.0		665.5		687.7
Net income	119.1		183.5		88.1		11.7
Net income per common share:
Basic	$	0.43	$	0.67	$	0.32	$	0.04
Diluted	$	0.43	$	0.66	$	0.32	$	0.04


⁽¹⁾	The sum of the quarterly earnings per share may not equal the full-year amount, as the computations of the weighted-average number of common basic and diluted shares outstanding for each quarter and the full year are performed independently.


⁽²⁾	The fiscal year ended July 1, 2017 (“fiscal 2017”) was a 52-week period, the fiscal year ended July 2, 2016 (“fiscal 2016”) was a 53-week period and the fiscal year ended June 27, 2015 (“fiscal 2015”) was a 52-week period. The fourth quarter of fiscal 2016 included the results of the 53rd week, contributing to $84.4 million in net revenues and $0.07 in net income per diluted share.

Significant Accounting Policies (Policies)

12 Months Ended

Jul. 01, 2017

Accounting Policies [Abstract]

Fiscal Year

Use of Estimates

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and all 100% owned subsidiaries. All intercompany transactions and balances are eliminated in consolidation.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash balances and highly liquid investments with a maturity of three months or less at the date of purchase.

Investments

Concentration of Credit Risk

Inventories

Property and Equipment, Net

Valuation of Long-Lived Assets

Business Combinations

Goodwill and Other Intangible Assets

The Company performs its annual impairment assessment of goodwill, including trademarks and trade names, during the fourth quarter of each fiscal year.

Operating Leases

Revenue Recognition

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 consists of inventory costs and other related costs such as reserves for inventory realizability and shrinkage, destruction costs, damages and replacements.

Selling, General and Administrative (SG&A) Expenses

Selling, General and Administrative ("SG&A") Expenses

Shipping and Handling

Advertising

Share-Based Compensation

Income Taxes

Derivative Instruments

Hedging Portfolio


•	Forward currency contracts - These derivatives are recognized 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 2017 to April 2018.

Foreign Currency

Stock Repurchase and Retirement

Reclassifications

Certain reclassifications on the Consolidated Balance Sheet have been made to the prior period's financial information in order to conform to the current period's presentation.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

Restructuring Activities (Tables)

12 Months Ended

Jul. 01, 2017

Operational Efficiency Plan

Restructuring Cost and Reserve [Line Items]

Summary of Restructuring Plan Charges and Related Liabilities

A summary of charges and related liabilities under the Company's Operational Efficiency Plan are as follows:



	Organizational Efficiency⁽¹⁾			Technology Infrastructure⁽²⁾			Network Optimization⁽³⁾			Total
	(millions)
Balance as of June 27, 2015	$	—		$	—		$	—		$	—
Fiscal 2016 charges	40.4			—			3.5			43.9
Cash payments	(9.7		)	—			—			(9.7		)
Non-cash charges	(8.5		)	—			(0.3		)	(8.8		)
Balance as of July 2, 2016	$	22.2		$	—		$	3.2		$	25.4
Fiscal 2017 charges	15.6			8.0			0.4			24.0
Cash payments	(23.3		)	(7.7		)	(3.0		)	(34.0		)
Non-cash charges	(7.9		)	—			(0.6		)	(8.5		)
Balance at July 1, 2017	$	6.6		$	0.3		$	—		$	6.9


⁽¹⁾	Organizational efficiency charges, recorded within SG&A expenses, primarily related to severance and related costs of corporate employees, accelerated depreciation associated with the retirement of information technology systems as well as consulting fees related to process and organizational optimization.


⁽²⁾	Technology infrastructure costs, recorded within SG&A expenses, related to the initial costs of replacing and updating the Company's core technology platforms.


⁽³⁾	Network optimization costs, recorded within SG&A expenses, related to lease termination costs.

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Jul. 01, 2017

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, as of the dates indicated, are as follows:



	Unrealized Gains (Losses) on Cash Flow Hedges⁽¹⁾			Unrealized Gains (Losses) on Available-for-Sale Debt Securities			Cumulative Translation Adjustment			Other⁽²⁾			Total
	(millions)
Balances at June 27, 2015	$	4.4		$	0.5		$	(81.7	)	$	(0.9	)	$	(77.7	)
Other comprehensive (loss) income before reclassifications	(10.2		)	(0.4		)	18.8			—			8.2
Less: gains (losses) reclassified from accumulated other comprehensive income	3.0			(0.2		)	—			0.6			3.4
Net current-period other comprehensive (loss) income	(13.2		)	(0.2		)	18.8			(0.6		)	4.8
Balances at July 2, 2016	$	(8.8	)	$	0.3		$	(62.9	)	$	(1.5	)	$	(72.9	)
Other comprehensive income (loss) before reclassifications	7.7			(0.7		)	(26.2		)	—			(19.2		)
Less: losses reclassified from accumulated other comprehensive income	(4.1		)	—			—			(1.1		)	(5.2		)
Net current-period other comprehensive income (loss)	11.8			(0.7		)	(26.2		)	1.1			(14.0		)
Balances at July 1, 2017	$	3.0		$	(0.4	)	$	(89.1	)	$	(0.4	)	$	(86.9	)


⁽¹⁾	The ending balances of AOCI related to cash flow hedges are net of tax of $(1.8) million and $4.5 million as of July 1, 2017 and July 2, 2016, respectively. The amounts reclassified from AOCI are net of tax of $2.2 million and $(1.4) million as of July 1, 2017 and July 2, 2016, respectively.


⁽²⁾	As of July 1, 2017 and July 2, 2016, Other represents the accumulated loss on the Company's minimum pension liability adjustment. The balances at July 1, 2017 and July 2, 2016 are net of tax of $0.2 million and $0.8 million, respectively.

Share-Based Compensation (Tables)

12 Months Ended

Jul. 01, 2017

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 Income:



	July 1, 2017⁽¹⁾		July 2, 2016⁽¹⁾		June 27, 2015⁽¹⁾
	(millions)
Share-based compensation expense	$	76.1	$	95.3	$	94.4
Income tax benefit related to share-based compensation expense	24.4		28.6		28.5

⁽¹⁾

Summary of Stock Option Activity

A summary of stock option activity during the year ended July 1, 2017 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 2, 2016	15.1		$	40.18
Granted	3.6		39.87
Exercised	(2.1	)	41.69
Forfeited or expired	(1.6	)	41.53
Outstanding at July 1, 2017	15.0		39.75		6.2	$	118.6
Vested and expected to vest at July 1, 2017	14.7		42.39		6.1	113.9
Exercisable at July 1, 2017	8.5		44.55		4.7	116.8

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 1, 2017		July 2, 2016		June 27, 2015
Expected term (years)	4.4		4.2		3.6
Expected volatility	30.5	%	32.2	%	31.9	%
Risk-free interest rate	1.1	%	1.4	%	1.1	%
Dividend yield	3.4	%	4.3	%	3.7	%

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 1, 2017		July 2, 2016		June 27, 2015
Expected term (years)	0.5		0.5		0.5
Expected volatility	24.7	%	28.6	%	26.4	%
Risk-free interest rate	0.6	%	0.3	%	0.1	%
Dividend yield	3.6	%	4.1	%	3.5	%

Service Based Restricted Stock Units

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 1, 2017 is as follows:



	Number of Non-vested RSUs		Weighted- Average Grant- Date Fair Value per RSU
	(millions)
Non-vested at July 2, 2016	3.7		$	49.06
Granted	2.1		39.57
Vested	(1.8	)	39.18
Forfeited	(0.5	)	35.33
Non-vested at July 1, 2017	3.5		50.28

Performance Shares

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

Nonvested Share Activity

A summary of PRSU activity during the year ended July 1, 2017 is as follows:



	Number of Non-vested PRSUs		Weighted- Average Grant- Date Fair Value per PRSU
	(millions)
Non-vested at July 2, 2016	1.4		$	38.67
Granted	0.3		39.61
Change due to performance condition achievement⁽¹⁾	(0.1	)	53.58
Vested⁽¹⁾	—		39.72
Forfeited	(0.1	)	40.16
Non-vested at July 1, 2017	1.5		37.78

⁽¹⁾During fiscal 2017, there was less than 0.1 million shares of PRSU activity due to changes in performance conditions and shares vested, individually and in the aggregate.

Investments (Tables)

12 Months Ended

Jul. 01, 2017

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 1, 2017 and July 2, 2016:



	July 1, 2017						July 2, 2016
	Short-term		Long-Term		Total		Short-term		Long-term		Total
	(millions)
Available-for-sale investments:
Commercial paper⁽¹⁾	$	68.8	$	—	$	68.8	$	54.8	$	—	$	54.8
Government securities – U.S.⁽²⁾	130.4		—		130.4		131.7		—		131.7
Corporate debt securities – U.S.⁽²⁾	116.2		46.9		163.1		161.4		64.2		225.6
Corporate debt securities – non-U.S.⁽²⁾	92.6		28.2		120.8		111.5		33.9		145.4
Available-for-sale investments, total	$	408.0	$	75.1	$	483.1	$	459.4	$	98.1	$	557.5
Other:
Time deposits⁽¹⁾	0.6		—		0.6		0.6		—		0.6
Other⁽³⁾	2.1		—		2.1		0.4		460.5		460.9
Total Investments	$	410.7	$	75.1	$	485.8	$	460.4	$	558.6	$	1,019.0


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


⁽²⁾	The securities as of July 1, 2017 have maturity dates between calendar years 2017 and 2019 and are recorded at fair value.


⁽³⁾	Long-Term Other as of July 2, 2016 relates to the equity method investment in Hudson Yards, related to an equity interest in an entity formed during fiscal 2013 for the purpose of developing a new office tower in Manhattan (the “Hudson Yards joint venture”), with the Company owning less than 43% of the joint venture. Refer to Note 19, "Headquarters Transactions," for further information.

Acquisitions (Tables)

12 Months Ended

Jul. 01, 2017

Business Combinations [Abstract]

Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the assets acquired and liabilities assumed as of the acquisition date:



Assets Acquired and Liabilities Assumed	Fair Value
	(millions)
Inventories and other current assets⁽¹⁾	$	5.3
Property and equipment, net	3.2
Goodwill⁽²⁾	24.6
Total assets acquired	33.1
Accounts Payable and accrued liabilities	4.8
Other liabilities⁽³⁾	2.7
Total liabilities assumed	7.5
Total cash paid	$	25.6

⁽¹⁾ The balance primarily consists of inventories of $5.0 million, including a step-up adjustment of approximately $0.9 million, which was amortized over 6 months.

⁽²⁾ The entire balance of acquired goodwill is not tax deductible.

⁽³⁾ Included within Other liabilities is a $2.6 million liability attributable to the 10% purchase price hold-back amount.

Leases (Tables)

12 Months Ended

Jul. 01, 2017

Leases [Abstract]

Schedule of Operating Lease Rent Expense

Rent expense for the Company's operating leases consisted of the following:



	Fiscal Year Ended
	July 1, 2017		July 2, 2016		June 27, 2015
	(millions)
Minimum rent⁽¹⁾	$	295.1	$	229.9	$	213.8
Contingent rent	129.4		134.8		142.8
Total rent expense	$	424.5	$	364.7	$	356.6


⁽¹⁾	$0.2 million and $5.9 million of lease termination charges due to restructuring-related closures were included in fiscal 2017 and fiscal 2016, respectively.

Future Minimum Rental Payments

Future minimum rental payments under non-cancelable operating leases, as of July 1, 2017, are as follows:



Fiscal Year	Amount
	(millions)
2018	$	295.4
2019	270.1
2020	242.3
2021	205.9
2022	194.1
Subsequent to 2022	1,250.9
Total minimum future rental payments	$	2,458.7

Fair Value Measurements (Tables)

12 Months Ended

Jul. 01, 2017

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 1, 2017 and July 2, 2016:



	Level 1				Level 2				Level 3
	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
	(millions)
Assets:
Cash equivalents⁽¹⁾	$	760.0	$	197.9	$	226.0	$	0.4	$	—	$	—
Short-term investments:
Time deposits⁽²⁾	—		—		0.6		0.6		—		—
Commercial paper⁽²⁾	—		—		68.8		54.8		—		—
Government securities - U.S.⁽²⁾	130.4		119.9		—		11.8		—		—
Corporate debt securities - U.S.⁽²⁾	—		—		116.2		161.4		—		—
Corporate debt securities - non U.S.⁽²⁾	—		—		92.6		111.5		—		—
Other	—		—		2.1		0.4		—		—
Long-term investments:
Corporate debt securities - U.S.⁽³⁾	—		—		46.9		64.2		—		—
Corporate debt securities - non U.S.⁽³⁾	—		—		28.2		33.9		—		—
Derivative Assets:
Inventory-related instruments⁽⁴⁾	—		—		3.5		0.2		—		—
Intercompany loan hedges⁽⁴⁾	—		—		—		0.4		—		—
Liabilities:
Contingent earnout obligation⁽⁵⁾	$	—	$	—	$	—	$	—	$	—	$	28.4
Derivative liabilities:
Inventory-related instruments⁽⁴⁾	—		—		1.0		11.0		—		—
Intercompany loan hedges⁽⁴⁾	—		—		0.7		0.1		—		—


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


⁽²⁾	Short-term available-for-sale 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⁾	Fair value is primarily determined using vendor or broker priced securities in active markets. These securities have maturity dates between calendar years 2018 and 2019.


⁽⁴⁾	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.

⁽⁵⁾

Reconciliation of the Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs



	July 1,			July 2,
	2017			2016
	(millions)
Beginning of year	$	28.4		$	19.4
Increase to contingent earnout obligation	6.8			9.0
Reversal of contingent earnout obligation	(35.2		)	—
End of year	$	—		$	28.4

Debt (Tables)

12 Months Ended

Jul. 01, 2017

Debt Disclosure [Abstract]

Schedule of Debt

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



	July 1, 2017			July 2, 2016
	(millions)
Current Debt:
Term Loan⁽¹⁾	$	—		$	15.0
Total Current Debt	$	—		$	15.0

Long-Term Debt:
Term Loan⁽¹⁾	$	—		$	270.0
4.250% Senior Notes due 2025	600.0			600.0
3.000% Senior Notes due 2022	400.0			—
4.125% Senior Notes due 2027	600.0			—
Total Long-Term Debt	1,600.0			870.0
Less: Unamortized Discount and Debt Issuance Costs on Senior Notes	(20.5		)	(8.8		)
Total Long-Term Debt, net	$	1,579.5		$	861.2


⁽¹⁾	See Note 20, "Subsequent Events" herein for further discussion.

Goodwill and Intangible Assets (Tables)

12 Months Ended

Jul. 01, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Change in Carrying Value of Goodwill

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



	Coach			Stuart Weitzman			Total
	(millions)
Balance at June 27, 2015	$	308.4		$	125.8		$	434.2
Acquisition of Stuart Weitzman Canada	—			24.6			24.6
Foreign exchange impact	38.5			(0.1		)	38.4
Purchase accounting adjustment⁽¹⁾	—			5.2			5.2
Balance at July 2, 2016	346.9			155.5			502.4
Foreign exchange impact	(22.4		)	—			(22.4		)
Purchase accounting adjustment⁽¹⁾	—			0.5			0.5
Balance at July 1, 2017	$	324.5		$	156.0		$	480.5


⁽¹⁾	Refer to Note 7, "Acquisitions," for further information.

Schedule of Indefinite-Lived Intangible Assets

Intangible assets consist of the following:



	Fiscal Year Ended⁽¹⁾
	July 1, 2017							July 2, 2016
	Gross Carrying Amount		Accum. Amort.			Net		Gross Carrying Amount		Accum. Amort.			Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	54.7	$	(9.7	)	$	45.0	$	54.7	$	(5.8	)	$	48.9
Favorable lease rights, net	26.1		(7.1		)	19.0		24.7		(3.6		)	21.1
Total intangible assets subject to amortization	80.8		(16.8		)	64.0		79.4		(9.4		)	70.0
Intangible assets not subject to amortization:
Trademarks and trade names	276.8		—			276.8		276.8		—			276.8
Total intangible assets	$	357.6	$	(16.8	)	$	340.8	$	356.2	$	(9.4	)	$	346.8


⁽¹⁾	Refer to Note 7, "Acquisitions," for further information.

Schedule of Finite-Lived Intangible Assets

Intangible assets consist of the following:



	Fiscal Year Ended⁽¹⁾
	July 1, 2017							July 2, 2016
	Gross Carrying Amount		Accum. Amort.			Net		Gross Carrying Amount		Accum. Amort.			Net
	(millions)
Intangible assets subject to amortization:
Customer relationships	$	54.7	$	(9.7	)	$	45.0	$	54.7	$	(5.8	)	$	48.9
Favorable lease rights, net	26.1		(7.1		)	19.0		24.7		(3.6		)	21.1
Total intangible assets subject to amortization	80.8		(16.8		)	64.0		79.4		(9.4		)	70.0
Intangible assets not subject to amortization:
Trademarks and trade names	276.8		—			276.8		276.8		—			276.8
Total intangible assets	$	357.6	$	(16.8	)	$	340.8	$	356.2	$	(9.4	)	$	346.8


⁽¹⁾	Refer to Note 7, "Acquisitions," for further information.

Expected Amortization Expense for Intangible Assets

As of July 1, 2017, the expected amortization expense for intangible assets is as follows:



	Amortization Expense
	(millions)
Fiscal 2018	$	6.8
Fiscal 2019	6.7
Fiscal 2020	6.5
Fiscal 2021	6.1
Fiscal 2022	5.5
Thereafter	32.4
Total	$	64.0

Income Taxes (Tables)

12 Months Ended

Jul. 01, 2017

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 1, 2017					July 2, 2016					June 27, 2015
	Amount			Percentage		Amount			Percentage		Amount			Percentage
	(millions)
Income before provision for income taxes:
United States	$	365.5		48.2	%	$	357.5		57.1	%	$	361.2		59.1	%
Foreign	393.5			51.8		269.1			42.9		250.4			40.9
Total income before provision for income taxes	$	759.0		100.0	%	$	626.6		100.0	%	$	611.6		100.0	%

Tax expense at U.S. statutory rate	$	265.7		35.0	%	$	219.3		35.0	%	$	214.0		35.0	%
State taxes, net of federal benefit	15.1			2.0		11.2			1.8		26.4			4.3
Effects of foreign operations	(86.7		)	(11.4	)	(53.7		)	(8.6	)	(79.7		)	(13.0	)
Effects of foreign tax credits and acquisition reorganization	(12.3		)	(1.6	)	(19.6		)	(3.1	)	9.3			1.5
Other, net	(13.8		)	(1.9	)	8.9			1.4		39.2			6.4
Taxes at effective worldwide rates	$	168.0		22.1	%	$	166.1		26.5	%	$	209.2		34.2	%

Current and deferred tax provision (benefit) was:



	Fiscal Year Ended
	July 1, 2017				July 2, 2016					June 27, 2015
	Current		Deferred		Current		Deferred			Current		Deferred
	(millions)
Federal	$	42.9	$	56.4	$	145.8	$	(52.0	)	$	142.9	$	10.5
Foreign	39.7		7.4		46.8		2.2			9.8		13.8
State	7.4		14.2		25.8		(2.5		)	35.0		(2.8		)
Total current and deferred tax provision (benefit)	$	90.0	$	78.0	$	218.4	$	(52.3	)	$	187.7	$	21.5

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities were:



	July 1, 2017			July 2, 2016
	(millions)
Share-based compensation	$	64.8		$	68.5
Reserves not deductible until paid	39.2			54.1
Deferred rent	22.7			27.9
Employee benefits	40.9			48.3
Basis difference in foreign investments	1.1			21.5
Net operating loss	199.2			176.7
Other	10.4			4.2
Prepaid expenses	0.6			0.8
Property and equipment	—			34.3
Inventory	21.6			15.5
Gross deferred tax assets	400.5			451.8
Valuation allowance	196.1			173.4
Deferred tax assets after valuation allowance	$	204.4		$	278.4

Goodwill	82.6			88.2
Property and equipment	8.4			—
Other	6.2			(1.3		)
Gross deferred tax liabilities	97.2			86.9
Net deferred tax assets	$	107.2		$	191.5

Consolidated Balance Sheets Classification
Deferred income taxes – noncurrent asset	170.5			248.8
Deferred income taxes – noncurrent liability (included within "Other Liabilities")	(63.3		)	(57.3		)
Net deferred tax asset	$	107.2		$	191.5

Unrecognized Tax Benefits Reconciliation

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



	July 1, 2017			July 2, 2016			June 27, 2015
	(millions)
Balance at beginning of fiscal year	$	138.6		$	168.1		$	170.7
Gross increase due to tax positions related to prior periods	2.7			25.5			5.4
Gross decrease due to tax positions related to prior periods	(2.7		)	(4.4		)	(1.1		)
Gross increase due to tax positions related to current period	8.1			8.7			16.5
Decrease due to lapse of statutes of limitations	(39.5		)	(59.0		)	(21.1		)
Decrease due to settlements with taxing authorities	(13.1		)	(0.3		)	(2.3		)
Balance at end of fiscal year	$	94.1		$	138.6		$	168.1

Segment Information (Tables)

12 Months Ended

Jul. 01, 2017

Segment Reporting [Abstract]

Summary of Segment Performance

The following table summarizes segment performance for fiscal 2017, fiscal 2016 and fiscal 2015:



	Coach		Stuart Weitzman		Corporate⁽¹⁾			Total
	(millions)
Fiscal 2017
Net sales	$	4,114.7	$	373.6	$	—		$	4,488.3
Gross profit	2,855.0		226.1		—			3,081.1
Operating income (loss)	1,040.0		15.5		(268.1		)	787.4
Income (loss) before provision for income taxes	1,040.0		15.5		(296.5		)	759.0
Depreciation and amortization expense⁽²⁾	149.9		18.9		50.1			218.9
Total assets	1,937.1		628.4		3,266.1			5,831.6
Additions to long-lived assets⁽³⁾	170.5		20.2		92.4			283.1



	Coach		Stuart Weitzman		Corporate⁽¹⁾			Total
	(millions)
Fiscal 2016
Net sales	$	4,147.1	$	344.7	$	—		$	4,491.8
Gross profit	2,848.9		202.4		—			3,051.3
Operating income (loss)	1,024.4		32.5		(403.4		)	653.5
Income (loss) before provision for income taxes	1,024.4		32.5		(430.3		)	626.6
Depreciation and amortization expense⁽²⁾	132.6		19.6		66.9			219.1
Total assets	1,975.5		631.2		2,286.0			4,892.7
Additions to long-lived assets⁽³⁾	210.2		11.5		174.7			396.4



	Coach		Stuart Weitzman			Corporate⁽¹⁾			Total
	(millions)
Fiscal 2015
Net sales	$	4,148.6	$	43.0		$	—		$	4,191.6
Gross profit	2,888.7		19.9			—			2,908.6
Operating income (loss)	965.6		(4.6		)	(343.0		)	618.0
Income (loss) before provision for income taxes	965.6		(4.6		)	(349.4		)	611.6
Depreciation and amortization expense⁽²⁾	123.0		5.2			112.4			240.6
Total assets	1,809.2		602.6			2,255.1			4,666.9
Additions to long-lived assets⁽³⁾	170.5		1.5			27.3			199.3

⁽²⁾

Net Sales by Product Category

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



	Fiscal Year Ended
	July 1, 2017		% of Total		July 2, 2016		% of Total		June 27, 2015		% of Total
	(millions)
Women's Handbags	$	2,308.0	52	%	$	2,392.9	53	%	$	2,389.6	57	%
Men's	808.0		18		725.7		16		680.4		16
Women's Accessories	721.0		16		721.6		16		709.4		17
Women's Other Products	277.7		6		306.9		7		369.2		9
Total Coach	$	4,114.7	92	%	$	4,147.1	92	%	$	4,148.6	99	%
Stuart Weitzman brand⁽¹⁾	373.6		8		344.7		8		43.0		1
Total Sales	$	4,488.3	100	%	$	4,491.8	100	%	$	4,191.6	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 2017
Net sales⁽¹⁾	$	2,432.5	$	572.8	$	643.9	$	839.1	$	4,488.3
Long-lived assets	497.7		58.3		93.2		162.2		811.4
Fiscal 2016
Net sales⁽¹⁾	$	2,477.3	$	559.8	$	652.2	$	802.5	$	4,491.8
Long-lived assets	750.3		74.8		96.6		141.5		1,063.2
Fiscal 2015
Net sales⁽¹⁾	$	2,372.8	$	545.6	$	635.8	$	637.4	$	4,191.6
Long-lived assets	559.5		55.4		91.2		138.4		844.5


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


⁽²⁾	Greater China includes mainland China, Hong Kong and Macau.


⁽³⁾	Other international sales reflect shipments to third-party distributors, primarily in East Asia, and sales from Company-operated stores and concession shop-in-shops in Canada, Europe, Taiwan, South Korea, Malaysia and Singapore.

Earnings Per Share (Tables)

12 Months Ended

Jul. 01, 2017

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 1, 2017		July 2, 2016		June 27, 2015
	(millions, except per share data)
Net income	$	591.0	$	460.5	$	402.4

Weighted-average basic shares	280.6		277.6		275.7
Effect of dilutive securities	2.2		1.7		1.5
Weighted-average diluted shares	282.8		279.3		277.2

Net income per share:
Basic	$	2.11	$	1.66	$	1.46
Diluted	$	2.09	$	1.65	$	1.45

Supplemental Balance Sheet Information (Tables)

12 Months Ended

Jul. 01, 2017

Disclosure Text Block Supplement [Abstract]

Components of Certain Balance Sheet Accounts

The components of certain balance sheet accounts are as follows:



	July 1, 2017			July 2, 2016
	(millions)
Property and equipment
Land and building	$	13.7		$	168.5
Machinery and equipment	34.4			34.5
Furniture and fixtures	640.0			653.2
Leasehold improvements	729.7			898.7
Construction in progress	71.7			26.4
Less: accumulated depreciation	(798.1		)	(861.8		)
Total property and equipment, net	$	691.4		$	919.5
Accrued liabilities
Payroll and employee benefits	$	152.7		$	180.5
Accrued rent	45.5			45.2
Dividends payable	95.1			93.9
Operating expenses	265.9			305.4
Total accrued liabilities	$	559.2		$	625.0
Other liabilities
Deferred lease obligation	$	204.2		$	172.9
Gross unrecognized tax benefit	94.1			138.6
Deferred tax liabilities	63.3			57.3
Other	134.8			153.1
Total other liabilities	$	496.4		$	521.9

Quarterly Financial Data (Tables)

12 Months Ended

Jul. 01, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(millions, except per share data)
Fiscal 2017⁽¹⁾
Net sales	$	1,037.6	$	1,321.7	$	995.2	$	1,133.8
Gross profit	714.7		906.2		705.7		754.5
Net income	117.4		199.7		122.2		151.7
Net income per common share:
Basic	$	0.42	$	0.71	$	0.44	$	0.54
Diluted	$	0.42	$	0.71	$	0.43	$	0.53
Fiscal 2016⁽¹⁾⁽²⁾
Net sales	$	1,030.3	$	1,273.8	$	1,033.1	$	1,154.6
Gross profit	696.5		859.1		713.0		782.7
Net income	96.4		170.1		112.5		81.5
Net income per common share:
Basic	$	0.35	$	0.61	$	0.40	$	0.29
Diluted	$	0.35	$	0.61	$	0.40	$	0.29
Fiscal 2015⁽¹⁾
Net sales	$	1,038.8	$	1,219.4	$	929.3	$	1,004.1
Gross profit	715.4		840.0		665.5		687.7
Net income	119.1		183.5		88.1		11.7
Net income per common share:
Basic	$	0.43	$	0.67	$	0.32	$	0.04
Diluted	$	0.43	$	0.66	$	0.32	$	0.04


⁽¹⁾	The sum of the quarterly earnings per share may not equal the full-year amount, as the computations of the weighted-average number of common basic and diluted shares outstanding for each quarter and the full year are performed independently.


⁽²⁾	The fiscal year ended July 1, 2017 (“fiscal 2017”) was a 52-week period, the fiscal year ended July 2, 2016 (“fiscal 2016”) was a 53-week period and the fiscal year ended June 27, 2015 (“fiscal 2015”) was a 52-week period. The fourth quarter of fiscal 2016 included the results of the 53rd week, contributing to $84.4 million in net revenues and $0.07 in net income per diluted share.

Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Significant Accounting Policies [Line Items]
Impairment charges	$ 14,200,000	$ 0	$ 0
Goodwill impairment	0	0	0
Deferred rent obligations	242,400,000	172,900,000
Noncurrent asset retirement obligation	$ 22,900,000	23,900,000
Breakage revenue, unredeemed gift card recognition period	3 years
Shipping and handling costs	$ 45,800,000	43,600,000	41,200,000
Advertising expenses	$ 178,300,000	$ 202,200,000	$ 160,900,000
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
Net Sales
Significant Accounting Policies [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%
Ancillary Sources \| Net Sales
Significant Accounting Policies [Line Items]
Concentration risk, percentage	1.00%

Restructuring Activities - Operational Efficiency Plan (Details) - Operational Efficiency Plan - USD ($) $ in Millions	12 Months Ended			15 Months Ended	27 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected cash charges		$ 34.0	$ 9.7
Restructuring charges		24.0	43.9	$ 67.9
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected costs to be incurred			65.0
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected costs to be incurred			80.0
Scenario, Forecast \| Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected cash charges					$ 55.0
Restructuring charges	$ 10.0
Scenario, Forecast \| Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected cash charges					$ 65.0
Restructuring charges	$ 15.0
Organizational Efficiency
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected cash charges		23.3	9.7
Restructuring charges		15.6	40.4
Organizational Efficiency \| Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected costs to be incurred			45.0
Organizational Efficiency \| Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected costs to be incurred			55.0
Technology Infrastructure
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected costs to be incurred			15.0
Restructuring charges, expected cash charges		7.7	0.0
Restructuring charges		8.0	0.0
Network Optimization
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected cash charges		3.0	0.0
Restructuring charges		$ 0.4	3.5
Network Optimization \| Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected costs to be incurred			5.0
Network Optimization \| Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, expected costs to be incurred			$ 10.0

Restructuring Activities - Restructuring Liability Rollforward (Details) - Operational Efficiency Plan - USD ($) $ in Millions	12 Months Ended		15 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	$ 25.4	$ 0.0
Restructuring charges	24.0	43.9	$ 67.9
Cash payments	(34.0)	(9.7)
Non-cash charges	(8.5)	(8.8)
Restructuring liability, ending balance	6.9	25.4	6.9
Organizational Efficiency
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	22.2	0.0
Restructuring charges	15.6	40.4
Cash payments	(23.3)	(9.7)
Non-cash charges	(7.9)	(8.5)
Restructuring liability, ending balance	6.6	22.2	6.6
Technology Infrastructure
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	0.0	0.0
Restructuring charges	8.0	0.0
Cash payments	(7.7)	0.0
Non-cash charges	0.0	0.0
Restructuring liability, ending balance	0.3	0.0	0.3
Network Optimization
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	3.2	0.0
Restructuring charges	0.4	3.5
Cash payments	(3.0)	0.0
Non-cash charges	(0.6)	(0.3)
Restructuring liability, ending balance	$ 0.0	$ 3.2	$ 0.0

Restructuring Activities - Transformation Plan (Details) - Transformation Plan - USD ($)	12 Months Ended		27 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 02, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 44,100,000	$ 321,500,000
Restructuring charges, after tax		$ 33,400,000
Restructuring charges per diluted share (USD per share)		$ 0.12
Restructuring liability	$ 0	$ 5,500,000	$ 5,500,000

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	$ 2,682.9	$ 2,489.9
Other comprehensive (loss) income before reclassifications	(19.2)	8.2
Less: gains (losses) reclassified from accumulated other comprehensive income	(5.2)	3.4
Net current-period other comprehensive (loss) income	(14.0)	4.8
Ending balance	3,001.9	2,682.9
Unrealized Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	(8.8)	4.4
Other comprehensive (loss) income before reclassifications	7.7	(10.2)
Less: gains (losses) reclassified from accumulated other comprehensive income	(4.1)	3.0
Net current-period other comprehensive (loss) income	11.8	(13.2)
Ending balance	3.0	(8.8)
Unrealized Gains (Losses) on Available-for-Sale Debt Securities
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	0.3	0.5
Other comprehensive (loss) income before reclassifications	(0.7)	(0.4)
Less: gains (losses) reclassified from accumulated other comprehensive income	0.0	(0.2)
Net current-period other comprehensive (loss) income	(0.7)	(0.2)
Ending balance	(0.4)	0.3
Cumulative Translation Adjustment
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	(62.9)	(81.7)
Other comprehensive (loss) income before reclassifications	(26.2)	18.8
Less: gains (losses) reclassified from accumulated other comprehensive income	0.0	0.0
Net current-period other comprehensive (loss) income	(26.2)	18.8
Ending balance	(89.1)	(62.9)
Other
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	(1.5)	(0.9)
Other comprehensive (loss) income before reclassifications	0.0	0.0
Less: gains (losses) reclassified from accumulated other comprehensive income	(1.1)	0.6
Net current-period other comprehensive (loss) income	1.1	(0.6)
Ending balance	(0.4)	(1.5)
Total
Accumulated Other Comprehensive (Loss) Income, Net of Tax [Roll Forward]
Beginning balance	(72.9)	(77.7)
Ending balance	$ (86.9)	$ (72.9)

Accumulated Other Comprehensive Income - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Unrealized Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, accumulated tax	$ (1.8)	$ 4.5
Amounts reclassified from AOCI, tax	2.2	(1.4)
Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, accumulated tax	$ 0.2	$ 0.8

Share-Based Compensation - Total Compensation Cost and Related Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 76.1	$ 95.3	$ 94.4
Income tax benefit related to share-based compensation expense	24.4	28.6	28.5
Operational Efficiency Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2.5	8.5
Income tax benefit related to share-based compensation expense	$ 0.8	$ 2.4
Transformation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			5.5
Income tax benefit related to share-based compensation expense			$ 2.0

Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
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	4 years 5 months	4 years 2 months	3 years 7 months 6 days
Stock option vesting period	3 years
Weighted-average grant-date fair value of options granted (USD per share)	$ 7.36	$ 5.65	$ 6.41
Total intrinsic value of options exercised	$ 15.4	$ 6.2	$ 12.1
Total cash received from option exercises	68.2	25.7	32.4
Tax benefit from option exercises	4.9	$ 2.3	$ 4.7
Total unrecognized compensation cost related to non-vested awards	$ 22.3
Total unrecognized compensation cost related to non-vested awards, recognized over a weighted-average period	1 year 1 month
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	10 years
Stock option vesting period	3 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 Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value of options granted (USD per share)	$ 39.57	$ 31.65	$ 36.38
Total unrecognized compensation cost related to non-vested awards	$ 60.6
Total unrecognized compensation cost related to non-vested awards, recognized over a weighted-average period	1 year 1 month
Total fair value of shares vested	$ 68.9	$ 45.8	$ 48.4
Non-vested service based RSUs (shares)	3.5	3.7
Non-vested shares granted (USD per share)	$ 39.57
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from option exercises	$ 19.0	$ 14.2	$ 15.7
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	11 months
Weighted-average grant-date fair value of options granted (USD per share)	$ 39.61	$ 31.67	$ 36.43
Total fair value of shares vested	$ 0.9	$ 1.4	$ 2.5
Total unrecognized compensation cost related to non-vested awards	$ 9.8
Non-vested service based RSUs (shares)	1.5	1.4
Non-vested shares granted (USD per share)	$ 39.61
Performance Restricted Stock Units, Total Stockholder Return Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period	3 years
Shares issued (shares)	0.3	0.4
Grant date fair value of award	$ 10.0	$ 11.6
Non-vested service based RSUs (shares)	0.6
Performance Restricted Stock Units, Financial and Operational Metric Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested service based RSUs (shares)	0.9
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 months	6 months	6 months
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	0.1	0.1
Non-vested shares granted (USD per share)	$ 8.08	$ 7.43	$ 8.41

Share-Based Compensation - Summary of Option Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Jul. 01, 2017 USD ($) $ / shares shares
Number of Options Outstanding
Outstanding, beginning of period (in shares) \| shares	15.1
Granted (in shares) \| shares	3.6
Exercised (in shares) \| shares	(2.1)
Forfeited or expired (in shares) \| shares	(1.6)
Outstanding, end of period (in shares) \| shares	15.0
Number of options outstanding, vested and expected to vest (in shares) \| shares	14.7
Number of options outstanding, exercisable (in shares) \| shares	8.5
Weighted-Average Exercise Price
Outstanding, beginning of period (USD per share) \| $ / shares	$ 40.18
Granted (USD per share) \| $ / shares	39.87
Exercised (USD per share) \| $ / shares	41.69
Forfeited or expired (USD per share) \| $ / shares	41.53
Outstanding, end of period (USD per share) \| $ / shares	39.75
Weighted-average exercise price, shares vested or expected to vest (USD per share) \| $ / shares	42.39
Weighted-average exercise price, exercisable (USD per share) \| $ / shares	$ 44.55
Weighted- Average Remaining Contractual Term (in years)
Outstanding	6 years 2 months
Vested or expected to vest	6 years 1 month
Exercisable	4 years 8 months
Aggregate Intrinsic Value
Outstanding \| $	$ 118.6
Vested or expected to vest \| $	113.9
Exercisable \| $	$ 116.8

Share Based Compensation - Stock Option Grant Weighted Average Assumptions (Details) - Stock Options	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	4 years 5 months	4 years 2 months	3 years 7 months 6 days
Expected volatility	30.50%	32.20%	31.90%
Risk-free interest rate	1.10%	1.40%	1.10%
Dividend yield	3.40%	4.30%	3.70%

Share-Based Compensation - Summary of Service-Based Restricted Stock Unit Activity (Details) - Service Based Restricted Stock Units shares in Millions	12 Months Ended
	Jul. 01, 2017 $ / shares shares
Number of Non-vested RSUs
Non-vested (shares) \| shares	3.7
Granted (shares) \| shares	2.1
Vested (shares) \| shares	(1.8)
Forfeited (shares) \| shares	(0.5)
Non-vested (shares) \| shares	3.5
Weighted-Average Grant-Date Fair Value per RSU
Non-vested (USD per share) \| $ / shares	$ 49.06
Granted (USD per share) \| $ / shares	39.57
Vested (USD per share) \| $ / shares	39.18
Forfeited (USD per share) \| $ / shares	35.33
Non-vested (USD per share) \| $ / shares	$ 50.28

Share-Based Compensation - Summary of Performance-Based Restricted Stock Unit Activity (Details) - Performance Shares shares in Millions	12 Months Ended
	Jul. 01, 2017 $ / shares shares
Number of Non-vested PRSUs
Non-vested (shares)	1.4
Granted (shares)	0.3
Change due to performance condition achievement, less than (shares)	(0.1)
Vested, less than (shares)	0.1
Change due to change in performance conditions and shares vested, less than (shares)	0.1
Forfeited (shares)	(0.1)
Non-vested (shares)	1.5
Weighted-Average Grant-Date Fair Value per PRSU
Non-vested (USD per share) \| $ / shares	$ 38.67
Granted (USD per share) \| $ / shares	39.61
Change due to performance condition achievement (USD per share) \| $ / shares	53.58
Vested (USD per share) \| $ / shares	39.72
Forfeited (USD per share) \| $ / shares	40.16
Non-vested (USD per share) \| $ / shares	$ 37.78

Share-Based Compensation - Purchase Rights Weighted Average Assumptions (Details) - Employee Stock Purchase Plan	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 months	6 months	6 months
Expected volatility	24.70%	28.60%	26.40%
Risk-free interest rate	0.60%	0.30%	0.10%
Dividend yield	3.60%	4.10%	3.50%

Investments - Summary of Investments (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Schedule of Available-for-sale Securities [Line Items]
Short-term	$ 410.7	$ 460.4
Long-Term	75.1	558.6
Total	485.8	1,019.0
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Short-term	408.0	459.4
Long-Term	75.1	98.1
Total	483.1	557.5
Available-for-sale Securities \| Commercial Paper
Schedule of Available-for-sale Securities [Line Items]
Short-term	68.8	54.8
Long-Term	0.0	0.0
Total	68.8	54.8
Available-for-sale Securities \| Government securities - U.S.
Schedule of Available-for-sale Securities [Line Items]
Short-term	130.4	131.7
Long-Term	0.0	0.0
Total	130.4	131.7
Available-for-sale Securities \| Corporate debt securities - U.S.
Schedule of Available-for-sale Securities [Line Items]
Short-term	116.2	161.4
Long-Term	46.9	64.2
Total	163.1	225.6
Available-for-sale Securities \| Corporate debt securities - non-U.S.
Schedule of Available-for-sale Securities [Line Items]
Short-term	92.6	111.5
Long-Term	28.2	33.9
Total	120.8	145.4
Other Investments \| Time deposits
Schedule of Available-for-sale Securities [Line Items]
Short-term	0.6	0.6
Long-Term	0.0	0.0
Total	0.6	0.6
Other Investments \| Other
Schedule of Available-for-sale Securities [Line Items]
Short-term	2.1	0.4
Long-Term	0.0	460.5
Total	$ 2.1	$ 460.9

Investments - Summary of Investments Footnote (Details)	Jul. 02, 2016
Hudson Yards Joint Venture
Schedule of Available-for-sale Securities [Line Items]
Ownership percentage, less than	43.00%

Investments - Narrative (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Investments, Debt and Equity Securities [Abstract]
Available-for-sale securities, gross unrealized gain (loss)	$ 0.0	$ 0.0

Acquisitions - Kate Spade & Company Acquisition (Details) - Kate Spade & Company - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Jul. 11, 2017	Jul. 01, 2017
Business Acquisition [Line Items]
Pre-tax acquisition costs		$ 16.9
Subsequent Event
Business Acquisition [Line Items]
Business acquisition, share price (USD per share)	$ 18.50
Cash paid in connection with the acquisition	$ 2,400.0

Acquisitions - Fiscal 2016 Acquisitions Narrative (Details) - Stuart Weitzman Canada $ in Millions	May 01, 2016 USD ($) store website
Business Acquisition [Line Items]
Number of retail stores acquired \| store	14
Number of e-commerce websites acquired \| website	1
Cash paid in connection with the acquisition	$ 25.6
Purchase price hold-back amount, percent	10.00%
Purchase price hold-back period	18 months
Inventory acquired	$ 5.0
Inventory step-up adjustment	$ 0.9
Inventory step-up adjustment, amortization period	6 months
Purchase price hold-back liability	$ 2.6
Pre-tax acquisition costs	$ 0.0

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016	May 01, 2016	Jun. 27, 2015
Assets Acquired and Liabilities Assumed
Goodwill	$ 480.5	$ 502.4		$ 434.2
Stuart Weitzman Canada
Assets Acquired and Liabilities Assumed
Inventories and other current assets			$ 5.3
Property and equipment, net			3.2
Goodwill			24.6
Total assets acquired			33.1
Accounts Payable and accrued liabilities			4.8
Other liabilities			2.7
Total liabilities assumed			7.5
Total cash paid			$ 25.6

Leases - Rent Expense for Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Leases [Abstract]
Minimum rent	$ 295.1	$ 229.9	$ 213.8
Contingent rent	129.4	134.8	142.8
Total rent expense	424.5	364.7	$ 356.6
Lease termination charges	$ 0.2	$ 5.9

- Definition

The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.

+ References + Details

Leases - Future Minimum Rental Payments Under Noncancelable Operating Leases (Details) $ in Millions	Jul. 01, 2017 USD ($)
Leases [Abstract]
2018	$ 295.4
2019	270.1
2020	242.3
2021	205.9
2022	194.1
Subsequent to 2022	1,250.9
Total minimum future rental payments	$ 2,458.7

Fair Value Measurements - Fair Value Measurements of Assets and Liabilities (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 760.0	$ 197.9
Contingent earnout obligation	0.0	0.0
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 \| Intercompany Loan 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 \| 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	130.4	119.9
Level 1 \| Short-term Investments \| Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 1 \| Short-term Investments \| Corporate debt securities - non-U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 1 \| Short-term Investments \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 1 \| Long-term Investments \| 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 \| Long-term Investments \| Corporate debt securities - non-U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	226.0	0.4
Contingent earnout obligation	0.0	0.0
Level 2 \| Inventory-related Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	3.5	0.2
Derivative liability	1.0	11.0
Level 2 \| Intercompany Loan Hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.0	0.4
Derivative liability	0.7	0.1
Level 2 \| Short-term Investments \| Time Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.6	0.6
Level 2 \| Short-term Investments \| Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	68.8	54.8
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	11.8
Level 2 \| Short-term Investments \| Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	116.2	161.4
Level 2 \| Short-term Investments \| Corporate debt securities - non-U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	92.6	111.5
Level 2 \| Short-term Investments \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2.1	0.4
Level 2 \| Long-term Investments \| Corporate debt securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	46.9	64.2
Level 2 \| Long-term Investments \| Corporate debt securities - non-U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	28.2	33.9
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0.0	0.0
Contingent earnout obligation	0.0	28.4
Level 3 \| 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 3 \| Intercompany Loan 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 3 \| Short-term Investments \| Time Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 3 \| Short-term Investments \| Commercial Paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 3 \| 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 3 \| 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 3 \| Short-term Investments \| Corporate debt securities - non-U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 3 \| Short-term Investments \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0.0	0.0
Level 3 \| Long-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 3 \| Long-term Investments \| Corporate debt securities - non-U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0.0	$ 0.0

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jul. 01, 2017	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015	May 04, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment charges		$ 14.2	$ 0.0	$ 0.0
Stuart Weitzman
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Potential earnout payment					$ 44.1
Reversal of earnout accrual	$ 35.2
Leasehold Improvements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset fair value	$ 3.1	$ 3.1

Fair Value Measurements - Liabilities Measured a Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of year	$ 28.4	$ 19.4
Increase to contingent earnout obligation	6.8	9.0
Reversal of contingent earnout obligation	(35.2)	0.0
End of year	$ 0.0	$ 28.4

Debt - Summary of Outstanding Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015	Jun. 20, 2017	Mar. 31, 2015
Current Debt:
Current debt	$ 0.0	$ 15.0
Long-Term Debt:
Long-term debt	1,600.0	870.0
Less: Unamortized Discount and Debt Issuance Costs on Senior Notes	(20.5)	(8.8)
Total Long-Term Debt, net	1,579.5	861.2
Interest expense	26.8	32.9	$ 11.9
Term Loan
Current Debt:
Current debt	0.0	15.0
Long-Term Debt:
Long-term debt	0.0	270.0
Senior Notes \| 4.250% Senior Notes due 2025
Long-Term Debt:
Long-term debt	$ 600.0	600.0
Interest rate, stated percentage	4.25%				4.25%
Senior Notes \| 3.000% Senior Notes due 2022
Long-Term Debt:
Long-term debt	$ 400.0	0.0
Interest rate, stated percentage	3.00%			3.00%
Senior Notes \| 4.125% Senior Notes due 2027
Long-Term Debt:
Long-term debt	$ 600.0	$ 0.0
Interest rate, stated percentage	4.125%			4.125%

Debt - Bridge Facility (Details) - Bridge Loan - Bridge Facility - USD ($)	May 07, 2017	Jul. 01, 2017	Jun. 20, 2017
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 2,100,000,000.0		$ 1,000,000,000.0
Structuring fee	0.225%
Commitment fee	0.225%
Commitment fee amount	$ 9,500,000
Outstanding borrowings		$ 0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt - Credit Facilities/Term Loans (Details) - USD ($)	Jul. 10, 2017	May 30, 2017	Jul. 01, 2017
Term Loan \| Term Loan Facilities
Debt Instrument [Line Items]
Outstanding borrowings			$ 0
Term Loan \| Six-Month Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 800,000,000
Term Loan \| Three-Year Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		300,000,000
Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 900,000,000
Outstanding borrowings			$ 0
Revolving Credit Facility \| Revolving Credit Facility \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Revolving Credit Facility \| Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
Reference ratio, percentage of lease expense		600.00%
Subsequent Event \| Term Loan \| Term Loan Facilities
Debt Instrument [Line Items]
Proceeds from debt	$ 1,100,000,000
Subsequent Event \| Term Loan \| Six-Month Term Loan Facility
Debt Instrument [Line Items]
Proceeds from debt	800,000,000
Subsequent Event \| Term Loan \| Three-Year Term Loan Facility
Debt Instrument [Line Items]
Proceeds from debt	$ 300,000,000

Debt - Senior Notes (Details) - USD ($)		1 Months Ended
Debt - Senior Notes (Details) - USD ($)	Jun. 20, 2017	Mar. 31, 2015	Jul. 01, 2017	Jul. 02, 2016
4.250% Senior Notes due 2025 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 600,000,000
Interest rate, stated percentage		4.25%	4.25%
Debt instrument, issuance amount, percent of par		99.445%
Long-term debt, maturities, redemption period before maturity		90 days
Debt instrument, redemption price, percentage		100.00%
3.000% Senior Notes due 2022 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400,000,000.0
Interest rate, stated percentage	3.00%		3.00%
Debt instrument, issuance amount, percent of par	99.505%
Debt instrument, redemption price, percentage	100.00%
4.125% Senior Notes due 2027 \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 600,000,000.0
Interest rate, stated percentage	4.125%		4.125%
Debt instrument, issuance amount, percent of par	99.858%
Debt instrument, redemption price, percentage	100.00%
Fair Value, Inputs, Level 2 \| 4.250% Senior Notes due 2025 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value			$ 624,000,000	$ 622,000,000
Fair Value, Inputs, Level 2 \| 3.000% Senior Notes due 2022 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value			395,000,000
Fair Value, Inputs, Level 2 \| 4.125% Senior Notes due 2027 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value			$ 596,000,000
Adjusted Treasury Rate \| 4.250% Senior Notes due 2025
Debt Instrument [Line Items]
Debt instrument, redemption, basis spread on variable discount rate		0.35%
Adjusted Treasury Rate \| 3.000% Senior Notes due 2022
Debt Instrument [Line Items]
Debt instrument, redemption, basis spread on variable discount rate	0.25%
Adjusted Treasury Rate \| 4.125% Senior Notes due 2027
Debt Instrument [Line Items]
Debt instrument, redemption, basis spread on variable discount rate	0.30%

Debt - Maturities (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Debt Maturities
Due in 2022	$ 400.0
Due subsequent to 2022	1,200.0
Total Long-Term Debt, net	$ 1,579.5	$ 861.2

Commitments and Contingencies (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Jul. 11, 2017	Jun. 30, 2018	Jul. 01, 2017	Jul. 02, 2016
Commitments and Contingencies Disclosure [Line Items]
Letters of credit amount outstanding			$ 9.0	$ 7.5
Debt repayment obligations			$ 1,600.0
Common stock, par value (USD per share)			$ 0.01	$ 0.01
Senior Notes \| 2022 Senior Notes, 2025 Senior Notes, and 2027 Senior Notes
Commitments and Contingencies Disclosure [Line Items]
Interest payment obligation			$ 514.0
Inventories
Commitments and Contingencies Disclosure [Line Items]
Contractual cash obligations			167.5
Capital Expenditures
Commitments and Contingencies Disclosure [Line Items]
Contractual cash obligations			78.0
Other Commitments
Commitments and Contingencies Disclosure [Line Items]
Contractual cash obligations			6.0
Kate Spade & Company
Commitments and Contingencies Disclosure [Line Items]
Acquisition-related expenses			16.9
Subsequent Event \| Kate Spade & Company
Commitments and Contingencies Disclosure [Line Items]
Business acquisition, share price (USD per share)	$ 18.50
Cash paid in connection with the acquisition	$ 2,400.0
Kate Spade & Company \| Subsequent Event
Commitments and Contingencies Disclosure [Line Items]
Common stock, par value (USD per share)	$ 1.00
Kate Spade & Company Integration \| Minimum
Commitments and Contingencies Disclosure [Line Items]
Restructuring charges, expected costs to be incurred			150.0
Kate Spade & Company Integration \| Maximum
Commitments and Contingencies Disclosure [Line Items]
Restructuring charges, expected costs to be incurred			200.0
Employee Severance \| Kate Spade & Company Integration
Commitments and Contingencies Disclosure [Line Items]
Restructuring charges, expected costs to be incurred			$ 60.0
Scenario, Forecast
Commitments and Contingencies Disclosure [Line Items]
Acquisition-related expenses		$ 45.0

Goodwill and Other Intangible Assets (Change in Carrying Value of Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Goodwill [Roll Forward]
Beginning balance	$ 502.4	$ 434.2
Acquisitions during the period		24.6
Foreign exchange impact	(22.4)	38.4
Purchase accounting adjustments	0.5	5.2
Ending balance	480.5	502.4
Coach
Goodwill [Roll Forward]
Beginning balance	346.9	308.4
Acquisitions during the period		0.0
Foreign exchange impact	(22.4)	38.5
Purchase accounting adjustments	0.0	0.0
Ending balance	324.5	346.9
Stuart Weitzman
Goodwill [Roll Forward]
Beginning balance	155.5	125.8
Acquisitions during the period		24.6
Foreign exchange impact	0.0	(0.1)
Purchase accounting adjustments	0.5	5.2
Ending balance	$ 156.0	$ 155.5

Goodwill and Other Intangible Assets (Indefinite and Finite Lived Assets) (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Intangible assets subject to amortization:
Gross carrying amount	$ 80.8	$ 79.4
Accumulated amortization	(16.8)	(9.4)
Finite-lived intangible assets, net	64.0	70.0
Intangible assets not subject to amortization:
Intangible assets, gross (excluding goodwill)	357.6	356.2
Intangible assets, net (excluding goodwill)	340.8	346.8
Trademarks and Trade Names
Intangible assets not subject to amortization:
Indefinite-lived intangible assets (excluding goodwill)	276.8	276.8
Customer Relationships
Intangible assets subject to amortization:
Gross carrying amount	54.7	54.7
Accumulated amortization	(9.7)	(5.8)
Finite-lived intangible assets, net	45.0	48.9
Favorable Lease Rights
Intangible assets subject to amortization:
Gross carrying amount	26.1	24.7
Accumulated amortization	(7.1)	(3.6)
Finite-lived intangible assets, net	$ 19.0	$ 21.1

Goodwill and Other Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Expected Amortization Expense for Intangible Assets
Fiscal 2018	$ 6.8
Fiscal 2019	6.7
Fiscal 2020	6.5
Fiscal 2021	6.1
Fiscal 2022	5.5
Thereafter	32.4
Finite-lived intangible assets, net	$ 64.0	$ 70.0

Goodwill and Other Intangible Assets (Narrative) (Details)	12 Months Ended
	Jul. 01, 2017
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	12 years 9 months
Favorable Lease Rights \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	6 months
Favorable Lease Rights \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	8 years 4 months

Income Taxes - Provisions for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Income before provision for income taxes, amount
United States	$ 365.5	$ 357.5	$ 361.2
Foreign	393.5	269.1	250.4
Income before provision for income taxes	759.0	626.6	611.6
Tax expense at U.S. statutory rate	265.7	219.3	214.0
State taxes, net of federal benefit	15.1	11.2	26.4
Effects of foreign operations	(86.7)	(53.7)	(79.7)
Effects of foreign tax credits and acquisition reorganization	(12.3)	(19.6)	9.3
Other, net	(13.8)	8.9	39.2
Taxes at effective worldwide rates	$ 168.0	$ 166.1	$ 209.2
Income before provision for income taxes, percentage
United States	48.20%	57.10%	59.10%
Foreign	51.80%	42.90%	40.90%
Total income before provision for income taxes	100.00%	100.00%	100.00%
Tax expense at U.S. statutory rate	35.00%	35.00%	35.00%
State taxes, net of federal benefit	2.00%	1.80%	4.30%
Effects of foreign operations	(11.40%)	(8.60%)	(13.00%)
Effects of foreign tax credits and acquisition reorganization	(1.60%)	(3.10%)	1.50%
Other, net	(1.90%)	1.40%	6.40%
Taxes at effective worldwide rates	22.10%	26.50%	34.20%

Income Taxes - Current and Deferred Tax Provisions (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Current
Federal	$ 42.9	$ 145.8	$ 142.9
Foreign	39.7	46.8	9.8
State	7.4	25.8	35.0
Total current and deferred tax provision (benefit)	90.0	218.4	187.7
Deferred
Federal	56.4	(52.0)	10.5
Foreign	7.4	2.2	13.8
State	14.2	(2.5)	(2.8)
Total current and deferred tax provision (benefit)	$ 78.0	$ (52.3)	$ 21.5

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Deferred Tax Assets, Gross [Abstract]
Share-based compensation	$ 64.8	$ 68.5
Reserves not deductible until paid	39.2	54.1
Deferred rent	22.7	27.9
Employee benefits	40.9	48.3
Basis difference in foreign investments	1.1	21.5
Net operating loss	199.2	176.7
Other	10.4	4.2
Prepaid expenses	0.6	0.8
Property and equipment	0.0	34.3
Inventory	21.6	15.5
Gross deferred tax assets	400.5	451.8
Valuation allowance	196.1	173.4
Deferred tax assets after valuation allowance	204.4	278.4
Deferred Tax Liabilities, Gross [Abstract]
Goodwill	82.6	88.2
Property and equipment	8.4	0.0
Other	6.2	(1.3)
Gross deferred tax liabilities	97.2	86.9
Net deferred tax asset	107.2	191.5
Consolidated Balance Sheets Classification
Deferred income taxes – noncurrent asset	170.5	248.8
Deferred income taxes – noncurrent liability (included within Other Liabilities)	(63.3)	(57.3)
Net deferred tax asset	$ 107.2	$ 191.5

Income Taxes - Unrecognized Tax Benefits Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of fiscal year	$ 138.6	$ 168.1	$ 170.7
Gross increase due to tax positions related to prior periods	2.7	25.5	5.4
Gross decrease due to tax positions related to prior periods	(2.7)	(4.4)	(1.1)
Gross increase due to tax positions related to current period	8.1	8.7	16.5
Decrease due to lapse of statutes of limitations	(39.5)	(59.0)	(21.1)
Decrease due to settlements with taxing authorities	(13.1)	(0.3)	(2.3)
Balance at end of fiscal year	$ 94.1	$ 138.6	$ 168.1

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015	Jun. 28, 2014
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 94.1	$ 138.6	$ 168.1	$ 170.7
Unrecognized tax benefit that would impact effective tax rate	83.6	111.1
Gross interest and penalties payable	24.1	29.0
Interest and penalty expense (income)	(2.8)	11.5	$ (0.1)
Net operating loss carryforwards in foreign tax jurisdictions	715.3	593.4
Valuation allowance on deferred tax asset carryforwards	196.1	173.4
Increase in deferred tax asset valuation allowance	22.7	3.6
Undistributed earnings of foreign subsidiaries	$ 2,910.0	$ 2,390.0

Defined Contribution Plan (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Retirement Benefits [Abstract]
Defined contribution plan expense	$ 9.1	$ 8.3	$ 7.2

Segment Information - Narrative (Details)	Jul. 01, 2017 store
United States \| Retail Stores
Segment Reporting Information [Line Items]
Number of stores operated	247
United States \| Outlet Store
Segment Reporting Information [Line Items]
Number of stores operated	192
Canada \| Retail Stores
Segment Reporting Information [Line Items]
Number of stores operated	40
Canada \| Outlet Store
Segment Reporting Information [Line Items]
Number of stores operated	9
Japan \| Concession Shop-in-Shops
Segment Reporting Information [Line Items]
Number of stores operated	184
Greater China \| Retail and Outlet Stores
Segment Reporting Information [Line Items]
Number of stores operated	199
Other International \| Concession Shop-in-Shops
Segment Reporting Information [Line Items]
Number of stores operated	172

Segment Information - Summary of Segment Performance (Details) - USD ($) $ in Millions		3 Months Ended												12 Months Ended
	Jul. 02, 2016	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Mar. 26, 2016	Dec. 26, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 27, 2014	Sep. 27, 2014	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Segment Reporting Information [Line Items]
Net sales	$ 84.4	$ 1,133.8	$ 995.2	$ 1,321.7	$ 1,037.6	$ 1,154.6	$ 1,033.1	$ 1,273.8	$ 1,030.3	$ 1,004.1	$ 929.3	$ 1,219.4	$ 1,038.8	$ 4,488.3	$ 4,491.8	$ 4,191.6
Gross profit		754.5	$ 705.7	$ 906.2	$ 714.7	782.7	$ 713.0	$ 859.1	$ 696.5	687.7	$ 665.5	$ 840.0	$ 715.4	3,081.1	3,051.3	2,908.6
Operating income (loss)														787.4	653.5	618.0
Income (loss) before provision for income taxes														759.0	626.6	611.6
Depreciation and amortization expense														218.9	219.1	240.6
Total assets	4,892.7	5,831.6				4,892.7				4,666.9				5,831.6	4,892.7	4,666.9
Additions to long-lived assets														283.1	396.4	199.3
Operating Segments \| Coach
Segment Reporting Information [Line Items]
Net sales														4,114.7	4,147.1	4,148.6
Gross profit														2,855.0	2,848.9	2,888.7
Operating income (loss)														1,040.0	1,024.4	965.6
Income (loss) before provision for income taxes														1,040.0	1,024.4	965.6
Depreciation and amortization expense														149.9	132.6	123.0
Total assets	1,975.5	1,937.1				1,975.5				1,809.2				1,937.1	1,975.5	1,809.2
Additions to long-lived assets														170.5	210.2	170.5
Operating Segments \| Stuart Weitzman
Segment Reporting Information [Line Items]
Net sales														373.6	344.7	43.0
Gross profit														226.1	202.4	19.9
Operating income (loss)														15.5	32.5	(4.6)
Income (loss) before provision for income taxes														15.5	32.5	(4.6)
Depreciation and amortization expense														18.9	19.6	5.2
Total assets	631.2	628.4				631.2				602.6				628.4	631.2	602.6
Additions to long-lived assets														20.2	11.5	1.5
Corporate Unallocated
Segment Reporting Information [Line Items]
Net sales														0.0	0.0	0.0
Gross profit														0.0	0.0	0.0
Operating income (loss)														(268.1)	(403.4)	(343.0)
Income (loss) before provision for income taxes														(296.5)	(430.3)	(349.4)
Depreciation and amortization expense														50.1	66.9	112.4
Total assets	$ 2,286.0	$ 3,266.1				$ 2,286.0				$ 2,255.1				3,266.1	2,286.0	2,255.1
Additions to long-lived assets														92.4	174.7	27.3
Operational Efficiency Plan
Segment Reporting Information [Line Items]
Depreciation and amortization expense														$ 6.1
Transformation Plan and Operational Efficiency Plan
Segment Reporting Information [Line Items]
Depreciation and amortization expense															$ 8.5
Transformation Plan
Segment Reporting Information [Line Items]
Depreciation and amortization expense																$ 48.8

Segment Information - Net Sales by Product Category (Details) - USD ($) $ in Millions		3 Months Ended												12 Months Ended
	Jul. 02, 2016	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Mar. 26, 2016	Dec. 26, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 27, 2014	Sep. 27, 2014	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Revenue from External Customer [Line Items]
Net sales	$ 84.4	$ 1,133.8	$ 995.2	$ 1,321.7	$ 1,037.6	$ 1,154.6	$ 1,033.1	$ 1,273.8	$ 1,030.3	$ 1,004.1	$ 929.3	$ 1,219.4	$ 1,038.8	$ 4,488.3	$ 4,491.8	$ 4,191.6
Net Sales
Revenue from External Customer [Line Items]
Percent of total sales														100.00%	100.00%	100.00%
Women's Handbags
Revenue from External Customer [Line Items]
Net sales														$ 2,308.0	$ 2,392.9	$ 2,389.6
Women's Handbags \| Net Sales
Revenue from External Customer [Line Items]
Percent of total sales														52.00%	53.00%	57.00%
Men's
Revenue from External Customer [Line Items]
Net sales														$ 808.0	$ 725.7	$ 680.4
Men's \| Net Sales
Revenue from External Customer [Line Items]
Percent of total sales														18.00%	16.00%	16.00%
Women's Accessories
Revenue from External Customer [Line Items]
Net sales														$ 721.0	$ 721.6	$ 709.4
Women's Accessories \| Net Sales
Revenue from External Customer [Line Items]
Percent of total sales														16.00%	16.00%	17.00%
Women's Other Products
Revenue from External Customer [Line Items]
Net sales														$ 277.7	$ 306.9	$ 369.2
Women's Other Products \| Net Sales
Revenue from External Customer [Line Items]
Percent of total sales														6.00%	7.00%	9.00%
Coach
Revenue from External Customer [Line Items]
Net sales														$ 4,114.7	$ 4,147.1	$ 4,148.6
Coach \| Net Sales
Revenue from External Customer [Line Items]
Percent of total sales														92.00%	92.00%	99.00%
Stuart Weitzman Brand
Revenue from External Customer [Line Items]
Net sales														$ 373.6	$ 344.7	$ 43.0
Stuart Weitzman Brand \| Net Sales
Revenue from External Customer [Line Items]
Percent of total sales														8.00%	8.00%	1.00%

Segment Information - Geographic Area Information (Details) - USD ($) $ in Millions		3 Months Ended												12 Months Ended
	Jul. 02, 2016	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Mar. 26, 2016	Dec. 26, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 27, 2014	Sep. 27, 2014	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Segment Reporting Information [Line Items]
Net sales	$ 84.4	$ 1,133.8	$ 995.2	$ 1,321.7	$ 1,037.6	$ 1,154.6	$ 1,033.1	$ 1,273.8	$ 1,030.3	$ 1,004.1	$ 929.3	$ 1,219.4	$ 1,038.8	$ 4,488.3	$ 4,491.8	$ 4,191.6
Long-lived assets	1,063.2	811.4				1,063.2				844.5				811.4	1,063.2	844.5
United States
Segment Reporting Information [Line Items]
Net sales														2,432.5	2,477.3	2,372.8
Long-lived assets	750.3	497.7				750.3				559.5				497.7	750.3	559.5
Japan
Segment Reporting Information [Line Items]
Net sales														572.8	559.8	545.6
Long-lived assets	74.8	58.3				74.8				55.4				58.3	74.8	55.4
Greater China
Segment Reporting Information [Line Items]
Net sales														643.9	652.2	635.8
Long-lived assets	96.6	93.2				96.6				91.2				93.2	96.6	91.2
Other
Segment Reporting Information [Line Items]
Net sales														839.1	802.5	637.4
Long-lived assets	$ 141.5	$ 162.2				$ 141.5				$ 138.4				$ 162.2	$ 141.5	$ 138.4

Earnings Per Share - Reconciliation of Weighted Average Shares Outstanding and Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended												12 Months Ended
	Jul. 02, 2016	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Mar. 26, 2016	Dec. 26, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 27, 2014	Sep. 27, 2014	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Earnings Per Share [Abstract]
Net Income		$ 151.7	$ 122.2	$ 199.7	$ 117.4	$ 81.5	$ 112.5	$ 170.1	$ 96.4	$ 11.7	$ 88.1	$ 183.5	$ 119.1	$ 591.0	$ 460.5	$ 402.4
Weighted-average basic shares (shares)														280.6	277.6	275.7
Effect of dilutive securities (shares)														2.2	1.7	1.5
Weighted-average diluted shares (shares)														282.8	279.3	277.2
Net income per share:
Basic (USD per share)		$ 0.54	$ 0.44	$ 0.71	$ 0.42	$ 0.29	$ 0.40	$ 0.61	$ 0.35	$ 0.04	$ 0.32	$ 0.67	$ 0.43	$ 2.11	$ 1.66	$ 1.46
Diluted (USD per share)	$ 0.07	$ 0.53	$ 0.43	$ 0.71	$ 0.42	$ 0.29	$ 0.40	$ 0.61	$ 0.35	$ 0.04	$ 0.32	$ 0.66	$ 0.43	$ 2.09	$ 1.65	$ 1.45

Earnings Per Share - Narrative (Details) - $ / shares shares in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options' exercise prices, lower limit (USD per share)	$ 45.13	$ 39.42	$ 38.75
Options' exercise prices, upper limit (USD per share)	$ 78.46	$ 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)	4.5	5.1	5.9
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)	5.6	5.9	6.8

Related Parties (Details) $ in Millions	12 Months Ended
Related Parties (Details) $ in Millions	Jul. 01, 2017 USD ($) factory	Jul. 02, 2016 USD ($)
Suart Weitzman Brand and Former Employee
Related Party Transaction [Line Items]
Payments to related parties	$ 27.6	$ 39.2
Stuart Weitzman Brand
Related Party Transaction [Line Items]
Payable to related parties	$ 0.0	$ 0.0
Stuart Weitzman \| Suart Weitzman Brand and Former Employee
Related Party Transaction [Line Items]
Number of factories invested in \| factory	2
Stuart Weitzman \| Stuart Weitzman Brand
Related Party Transaction [Line Items]
Ownership percentage	50.00%
Stuart Weitzman \| Former Employee
Related Party Transaction [Line Items]
Ownership percentage	50.00%

Supplemental Balance Sheet Information - Components of Certain Balance Sheet Accounts (Details) - USD ($) $ in Millions	Jul. 01, 2017	Jul. 02, 2016
Property and equipment
Land and building	$ 13.7	$ 168.5
Machinery and equipment	34.4	34.5
Furniture and fixtures	640.0	653.2
Leasehold improvements	729.7	898.7
Construction in progress	71.7	26.4
Less: accumulated depreciation	(798.1)	(861.8)
Total property and equipment, net	691.4	919.5
Accrued liabilities
Payroll and employee benefits	152.7	180.5
Accrued rent	45.5	45.2
Dividends payable	95.1	93.9
Operating expenses	265.9	305.4
Total accrued liabilities	559.2	625.0
Other liabilities
Deferred lease obligation	204.2	172.9
Gross unrecognized tax benefit	94.1	138.6
Deferred tax liabilities	63.3	57.3
Other	134.8	153.1
Total other liabilities	$ 496.4	$ 521.9

Headquarters Transactions (Details) ft² in Thousands, $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2016 USD ($)	Oct. 01, 2016 USD ($) ft²	Jul. 01, 2017 USD ($)	Jul. 02, 2016 USD ($)	Jun. 27, 2015 USD ($)
Sale Leaseback Transaction [Line Items]
Minimum lease payments		$ 1,050.0
Minimum Lease Payments
2018			$ 45.1
2019			45.1
2020			45.1
2021			45.1
Due after 2021			825.5
Sale of former headquarters, net of expenses	$ 126.0		$ 126.0	$ 0.0	$ 0.0
Corporate Headquarters Lease
Sale Leaseback Transaction [Line Items]
Investment purchase price received		707.0
Amount due to developer		77.0
Transaction costs		26.0
Deferred gain		$ 28.8
Amortization period of deferred gain		20 years
Lease term		20 years
Leased building area (sq ft) \| ft²		694

Subsequent Events (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Millions	Jul. 11, 2017	Jul. 10, 2017
Kate Spade & Company
Subsequent Event [Line Items]
Business acquisition, share price (USD per share)	$ 18.50
Cash paid in connection with the acquisition	$ 2,400.0
Term Loan Facilities \| Term Loan
Subsequent Event [Line Items]
Proceeds from debt		$ 1,100.0
Six-Month Term Loan Facility \| Term Loan
Subsequent Event [Line Items]
Proceeds from debt		800.0
Three-Year Term Loan Facility \| Term Loan
Subsequent Event [Line Items]
Proceeds from debt		$ 300.0

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 196.8	$ 198.4	$ 147.7
Additions Charged to Costs and Expenses	71.6	72.9	91.1
Additions Related to Acquisition	0.0	0.0	5.4
Write-offs/ Allowances Taken	(56.6)	(74.5)	(45.8)
Balance at End of Year	211.8	196.8	198.4
Allowance for bad debts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	2.2	3.1	1.4
Additions Charged to Costs and Expenses	1.7	3.7	1.7
Additions Related to Acquisition	0.0	0.0	0.9
Write-offs/ Allowances Taken	(2.0)	(4.6)	(0.9)
Balance at End of Year	1.9	2.2	3.1
Allowance for returns
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	6.0	7.5	2.9
Additions Charged to Costs and Expenses	10.3	11.5	8.9
Additions Related to Acquisition	0.0	0.0	0.7
Write-offs/ Allowances Taken	(11.9)	(13.0)	(5.0)
Balance at End of Year	4.4	6.0	7.5
Allowance for markdowns
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	15.2	18.0	11.6
Additions Charged to Costs and Expenses	36.9	54.1	42.5
Additions Related to Acquisition	0.0	0.0	3.8
Write-offs/ Allowances Taken	(42.7)	(56.9)	(39.9)
Balance at End of Year	9.4	15.2	18.0
Valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	173.4	169.8	131.8
Additions Charged to Costs and Expenses	22.7	3.6	38.0
Additions Related to Acquisition	0.0	0.0	0.0
Write-offs/ Allowances Taken	0.0	0.0	0.0
Balance at End of Year	$ 196.1	$ 173.4	$ 169.8

Quarterly Financial Data - Schedule of Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended												12 Months Ended
	Jul. 02, 2016	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Mar. 26, 2016	Dec. 26, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 27, 2014	Sep. 27, 2014	Jul. 01, 2017	Jul. 02, 2016	Jun. 27, 2015
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 84.4	$ 1,133.8	$ 995.2	$ 1,321.7	$ 1,037.6	$ 1,154.6	$ 1,033.1	$ 1,273.8	$ 1,030.3	$ 1,004.1	$ 929.3	$ 1,219.4	$ 1,038.8	$ 4,488.3	$ 4,491.8	$ 4,191.6
Gross profit		754.5	705.7	906.2	714.7	782.7	713.0	859.1	696.5	687.7	665.5	840.0	715.4	3,081.1	3,051.3	2,908.6
Net Income		$ 151.7	$ 122.2	$ 199.7	$ 117.4	$ 81.5	$ 112.5	$ 170.1	$ 96.4	$ 11.7	$ 88.1	$ 183.5	$ 119.1	$ 591.0	$ 460.5	$ 402.4
Net income per common share:
Basic (USD per share)		$ 0.54	$ 0.44	$ 0.71	$ 0.42	$ 0.29	$ 0.40	$ 0.61	$ 0.35	$ 0.04	$ 0.32	$ 0.67	$ 0.43	$ 2.11	$ 1.66	$ 1.46
Diluted (USD per share)	$ 0.07	$ 0.53	$ 0.43	$ 0.71	$ 0.42	$ 0.29	$ 0.40	$ 0.61	$ 0.35	$ 0.04	$ 0.32	$ 0.66	$ 0.43	$ 2.09	$ 1.65	$ 1.45