EX-99.1 2 cpri8-k03302019exhibit991.htm EXHIBIT 99.1 Exhibit



Exhibit 99.1

Schedule of Reclassified Segment Data
Supplemental Financial Information
Non-U.S. GAAP Operating Income (Loss)
(In millions)
(Unaudited)
 
 
Fiscal 2019
 
 
First Quarter
 
Second Quarter
 
 
As Reported
 
Adjustment
 
As
Recast
 
As Reported
 
Adjustment
 
As
Recast
Income from operations:
 
 
 
 
 
 
 
 
 
 
 
 
MK Retail
$
93

 
$
(93
)
 
$
—

 
$
67

 
$
(67
)
 
$
—

 
MK Wholesale
$
97

 
$
(97
)
 
$
—

 
$
131

 
$
(131
)
 
$
—

 
MK Licensing
$
9

 
$
(9
)
 
$
—

 
$
10

 
$
(10
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Michael Kors
$
199

 
$
31

 
$
230

 
$
208

 
$
40

 
$
248

Jimmy Choo
16

 
6

 
22

 
(18
)
 
9

 
(9
)
Versace
—

 
—

 
—

 
—

 
—

 
—

Total segment income from operations
215

 
37

 
252

 
190

 
49

 
239

Less:
Corporate expenses
—

 
(22
)
 
(22
)
 
—

 
(23
)
 
(23
)
 
Restructuring and other charges
—

 
(11
)
 
(11
)
 
—

 
(19
)
 
(19
)
 
Impairment of long-lived assets
—

 
(4
)
 
(4
)
 
—

 
(7
)
 
(7
)
Total income from operations
$
215

 
$
—

 
$
215

 
$
190

 
$
—

 
$
190

 
 
Fiscal 2019
 
 
Third Quarter
 
Fourth Quarter
 
Full Year
 
As Reported
 
Adjustment
 
As
Recast
 
As Reported
 
As Reported
Income from operations:
 
 
 
 
 
 
 
 
 
 
MK Retail
$
150

 
$
(150
)
 
$
—

 
 
 

 
MK Wholesale
$
109

 
$
(109
)
 
$
—

 
 
 

 
MK Licensing
$
26

 
$
(26
)
 
$
—

 
 
 

 
 
 
 
 
 
 
 
 
 
 
Michael Kors
$
285

 
$
35

 
$
320

 
$
166

 
$
964

Jimmy Choo
5

 
10

 
15

 
(8
)
 
20

Versace
—

 
—

 
—

 
(11
)
 
(11
)
Total segment income from operations
290

 
45

 
335

 
147

 
973

Less:
Corporate expenses
—

 
(20
)
 
(20
)
 
(28
)
 
(93
)
 
Restructuring and other charges
—

 
(19
)
 
(19
)
 
(75
)
 
(124
)
 
Impairment of long-lived assets
—

 
(6
)
 
(6
)
 
(4
)
 
(21
)
Total income from operations
$
290

 
$
—

 
$
290

 
$
40

 
$
735







Schedule of Reclassified Segment Data
Supplemental Financial Information
Non-U.S. GAAP Operating Income (Loss)
(In millions)
(Unaudited)
 
 
Fiscal 2018
 
 
First Quarter
 
Second Quarter
 
 
As Reported
 
Adjustment
 
As
Recast
 
As Reported
 
Adjustment
 
As
Recast
Income from operations:
 
 
 
 
 
 
 
 
 
 
 
 
MK Retail
$
92

 
$
(92
)
 
$
—

 
$
69

 
$
(69
)
 
$
—

 
MK Wholesale
$
43

 
$
(43
)
 
$
—

 
$
120

 
$
(120
)
 
$
—

 
MK Licensing
$
14

 
$
(14
)
 
$
—

 
$
10

 
$
(10
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Michael Kors
$
149

 
$
24

 
$
173

 
$
199

 
$
57

 
$
256

Jimmy Choo
—

 
—

 
—

 
—

 
—

 
—

Total segment income from operations
149

 
24

 
173

 
199

 
57

 
256

Less:
Corporate expenses
—

 
(23
)
 
(23
)
 
—

 
(19
)
 
(19
)
 
Restructuring and other charges
—

 
(1
)
 
(1
)
 
—

 
(22
)
 
(22
)
 
Impairment of long-lived assets
—

 
—

 
—

 
—

 
(16
)
 
(16
)
Total income from operations
$
149

 
$
—

 
$
149

 
$
199

 
$
—

 
$
199

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal 2018
 
 
Third Quarter
 
Fourth Quarter
 
As Reported
 
Adjustment
 
As
Recast
 
As Reported
 
Adjustment
 
As
Recast
Income from operations:
 
 
 
 
 
 
 
 
 
 
 
 
MK Retail
$
180

 
$
(180
)
 
$
—

 
$
(7
)
 
$
7

 
$
—

 
MK Wholesale
$
101

 
$
(101
)
 
$
—

 
$
110

 
$
(110
)
 
$
—

 
MK Licensing
$
27

 
$
(27
)
 
$
—

 
$
7

 
$
(7
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Michael Kors
$
308

 
$
43

 
$
351

 
$
110

 
$
85

 
$
195

Jimmy Choo
6

 
8

 
14

 
(23
)
 
5

 
(18
)
Total segment income from operations
314

 
51

 
365

 
87

 
90

 
177

Less:
Corporate expenses
—

 
(20
)
 
(20
)
 
—

 
(25
)
 
(25
)
 
Restructuring and other charges
—

 
(28
)
 
(28
)
 
—

 
(51
)
 
(51
)
 
Impairment of long-lived assets
—

 
(3
)
 
(3
)
 
—

 
(14
)
 
(14
)
Total income from operations
$
314

 
$
—

 
$
314

 
$
87

 
$
—

 
$
87