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Segment Information | 9 Months Ended
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Mar. 27, 2021
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION The Company has three reportable segments: •Coach - Includes global sales of Coach brand products to customers through Coach operated stores, including the Internet and concession shop-in-shops, sales to wholesale customers and through independent third party distributors. •Kate Spade - Includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including the Internet, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors. •Stuart Weitzman - Includes global sales of Stuart Weitzman brand products to customers primarily through Stuart Weitzman operated stores, including the Internet, sales to wholesale customers and through numerous independent third party distributors. In deciding how to allocate resources and assess performance, the Company's chief operating decision maker regularly evaluates the sales and operating income of these segments. Operating income is the gross margin of the segment less direct expenses of the segment. The following table summarizes segment performance for the three and nine months ended March 27, 2021 and March 28, 2020:
| Coach |  | Kate Spade |  | Stuart Weitzman |  | Corporate(1) |  |  |  | Total
| (millions)
Three Months Ended March 27, 2021 |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 963.5 |  |  | $ | 252.4 |  |  | $ | 57.4 |  |  | $ | — |  |  |  |  | $ | 1,273.3 |
Gross profit | 718.0 |  |  | 160.2 |  |  | 33.7 |  |  | — |  |  |  |  | 911.9 |
Operating income (loss) | 251.4 |  |  | (8.7) |  |  | (17.5) |  |  | (108.5) |  |  |  |  | 116.7 |
Income (loss) before provision for income taxes | 251.4 |  |  | (8.7) |  |  | (17.5) |  |  | (129.8) |  |  |  |  | 95.4 |
Depreciation and amortization expense(3) | 32.1 |  |  | 14.1 |  |  | 5.4 |  |  | 14.9 |  |  |  |  | 66.5 |
Additions to long-lived assets(4) | 5.4 |  |  | 0.8 |  |  | 0.9 |  |  | 12.1 |  |  |  |  | 19.2 |
Three Months Ended March 28, 2020 |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 772.5 |  |  | $ | 249.5 |  |  | $ | 50.7 |  |  | $ | — |  |  |  |  | $ | 1,072.7 |
Gross profit(2) | 475.7 |  |  | 122.5 |  |  | 18.0 |  |  | — |  |  |  |  | 616.2 |
Operating income (loss) | 38.1 |  |  | (91.3) |  |  | (530.7) |  |  | (101.6) |  |  |  |  | (685.5) |
Income (loss) before provision for income taxes | 38.1 |  |  | (91.3) |  |  | (530.7) |  |  | (121.1) |  |  |  |  | (705.0) |
Depreciation and amortization expense(3) | 42.0 |  |  | 42.1 |  |  | 487.5 |  |  | 13.6 |  |  |  |  | 585.2 |
Additions to long-lived assets(4) | 21.5 |  |  | 19.2 |  |  | 3.0 |  |  | 7.0 |  |  |  |  | 50.7 |
Nine Months Ended March 27, 2021 |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 3,064.2 |  |  | $ | 868.4 |  |  | $ | 198.3 |  |  | $ | — |  |  |  |  | $ | 4,130.9 |
Gross profit | 2,251.0 |  |  | 547.4 |  |  | 117.4 |  |  | — |  |  |  |  | 2,915.8 |
Operating income (loss) | 933.4 |  |  | 73.3 |  |  | (5.6) |  |  | (292.8) |  |  |  |  | 708.3 |
Income (loss) before provision for income taxes | 933.4 |  |  | 73.3 |  |  | (5.6) |  |  | (346.0) |  |  |  |  | 655.1 |
Depreciation and amortization expense(3) | 80.4 |  |  | 35.8 |  |  | 10.8 |  |  | 42.2 |  |  |  |  | 169.2 |
Additions to long-lived assets(4) | 25.1 |  |  | 9.4 |  |  | 2.2 |  |  | 32.2 |  |  |  |  | 68.9 |
Nine Months Ended March 28, 2020 |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 3,008.3 |  |  | $ | 985.4 |  |  | $ | 252.9 |  |  | $ | — |  |  |  |  | $ | 4,246.6 |
Gross profit(2) | 2,030.6 |  |  | 576.4 |  |  | 133.4 |  |  | — |  |  |  |  | 2,740.4 |
Operating income (loss) | 620.4 |  |  | (30.6) |  |  | (540.4) |  |  | (320.2) |  |  |  |  | (270.8) |
Income (loss) before provision for income taxes | 620.4 |  |  | (30.6) |  |  | (540.4) |  |  | (372.8) |  |  |  |  | (323.4) |
Depreciation and amortization expense(3) | 121.1 |  |  | 84.1 |  |  | 505.2 |  |  | 39.8 |  |  |  |  | 750.2 |
Additions to long-lived assets(4) | 66.2 |  |  | 54.5 |  |  | 13.3 |  |  | 38.9 |  |  |  |  | 172.9 |
(1) Corporate, which is not a reportable segment, represents certain costs that are not directly attributable to a brand. These costs primarily include administration and certain information systems expense. (2) Gross profit reflects charges recorded within Cost of sales of $61.9 million within the Coach segment, $32.3 million within the Kate Spade segment and $9.8 million within the Stuart Weitzman segment for the three and nine months ended March 28, 2020 as a result of establishing inventory reserves directly related to the expected impact of Covid-19 on the Company's future sales projections. The non-cash portion of these charges are presented within Impairment charges on the Condensed Consolidated Statement of Cash Flows. (3) Depreciation and amortization expense includes $1.7 million and $2.0 million of Acceleration Program costs for the three and nine months ended March 27, 2021 and $0.0 million and $0.2 million of integration costs recorded within the Kate Spade segment for the three and nine months ended March 28, 2020, respectively. Depreciation and amortization expense includes impairment charges of $11.9 million for Coach, $21.0 million for Kate Spade and $482.4 million for Stuart Weitzman for the three months ended March 28, 2020, as a result of impairment of Stuart Weitzman intangible assets as well as store impairments due to the Covid-19 pandemic. Depreciation and amortization expense includes impairment charges of $31.4 million for Coach, $33.0 million for Kate Spade and $490.7 million for Stuart Weitzman for the nine months ended March 28, 2020. Refer to Note 7, "Goodwill and Other Intangible Assets" and Note 13, "Fair Value Measurements," for further information. Depreciation and amortization expense for the segments includes an allocation of expense related to assets which support multiple segments.(4) Additions to long-lived assets for the reportable segments primarily includes store assets as well as assets that support a specific brand. Corporate additions include all other assets which include a combination of Corporate assets, as well as assets that may support all segments. As such, depreciation expense for these assets may be subsequently allocated to a reportable segment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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